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2023-01-05
Sahem Weekly Trading Report (02-05)-01-2023
Al-Quds Index ended the first week of the year 2023 – with four trading sessions- at the level of 632.75 points; down by 1.09% than its previous weekly closing level which coincides with the end of the year 2022 after trading in a relatively narrow range. Whereby, one listed stock’s performance didn’t exceed any other within a receding in the substantial news on the companies that may increase the intrinsic value of their stocks. The lack of normal trading may be attributable to anticipating the financial data for the year 2022 that are supposed to be disclosed through a legal period granted by the PEX that will end in mid-February. While the PEX witnessed executing transactions on stocks in the banking and financial services sector, whereby, several transactions of 0.66 million shares were executed on the stocks of Bank of Palestine BOP and a transaction of 4.00 million shares was executed on the stocks of Palestine Investment Bank PIBC. However, with the entry of the year 2023, the routine cycle starts in the stock market, which with its sequences stages; the price impact varies with the variation in traders’ behaviors. The fiscal year ends and the annual financial disclosures start, then the dividends’ distribution decisions’ announcements follow, then the entitlements come next, and finally measuring the return on investment. This comes with efficient price reflections and well-expected routine cycles if other factors remain constant.
On the other hand and within its yearly modification that coincides with the end of the year 2022, Palestine Stock Exchange PEX reviewed the composition of Al-Quds Index for the year 2023 and made some changes to the companies included in the old composition of the year 2022, whereby, the number of companies became 16 companies out of 49 listed companies compared to 15 in the composition of the year 2022. While the new composition consists of 2 new companies: Arkaan Real Estate Company ARKAAN instead of Union Construction & Investment Company UCI in the investment sector, besides adding Birzeit Pharmaceuticals Company BPC in the industry sector. The new composition consists of, from the banking and financial services sector: Bank of Palestine, the National Bank, Palestine Islamic Bank, The Arab Islamic Bank and Al-Quds Bank. From the insurance sector: The National Insurance Company. From the investment sector: Palestine Development & Investment “ PADICO HOLDING”, Arab Palestinian Investment “APIC”, Palestine Real Estate Investment and Arkaan Real Estate Company. From the industry sector: Jerusalem Pharmaceuticals and Jerusalem Cigarette and Birzeit Pharmaceuticals. And from the services sector: Palestine Telecommunications, Palestine Electric and Wataniya Palestine Mobile Telecommunications.
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