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High-Volume transactions raise trading value significantly


 Sahem Weekly Trading Report (08-12)-01-2023

In the second week of the year 2023, Al-Quds Index increased by 0.90% than the previous week, to break through the 640 points barrier and rebounds from, closing at the level of 638.45 points. While Palestine Stock Exchange PEX witnessed significant increase in trading, activity in price movements and a momentum in executing high-volume transactions on the leading stocks and others. Where, a transaction of 2.25 million shares was executed on the stocks of Palestine Development and Investment Company PADICO, in addition, several transaction of 5.66 million shares were executed on the stocks of the National Bank TNB, also, a transaction of 0.15 million shares was executed on the stocks of Palestine Telecommunications PALTEL. On another hand and with this routine period, the listed companies accelerate to announce holding their board of directors meetings to discuss and approve 2022’s financial results in order to disclose their annual profits. Whereby, the anticipation for the annual financial data disclosures remains on top of the investors agendas, in expectation to the yields that may be achieved in form of dividends to compensate any capital losses.

Regarding the significant news, Palestine Monetary Authority PMA announced new instructions to reduce the banking services commissions, beginning from the coming February, while it studies using tools to mitigate the effects of raising interest rates on borrowers. The new instructions include the abolition of a number of commissions on accounts and banking services, and the reduction of the remaining, except for the commission on the shekels deposits only, which will be raised. Where the commission for depositing in shekels will be raised on amounts above NIS100,000 , targeting in particular major traders and distributors of tobacco and fuel, who refuse to deal with electronic payment systems despite completely canceling the commissions on, whether for the merchant or customer. This aims to encourage payment through electronic systems and reducing the shekel surplus crisis, which is affecting individuals, banks and the Palestinian economy in general.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall IPI in Palestine reached 109.64 during November 2022 which indicates a decrease of 4.22% compared to October 2022 (Base Year 2019). IPI for November 2022 decreased due to the decrease in the activities of electricity, gas, steam and air conditioning supply by 11.46% which had a share of 7.38% of the total industry, the activities of mining and quarrying by 7.71% which had a share of 2.89% of the total industry, the activities of manufacturing industry by 3.56% which had a share of 87.89% of the total industry, and the activities of water supply, sewerage, waste management and remediation by 0.36% which had a share of 1.84% of the total industry.


Al-Quds Index continued to decline amid lack of general incentives

The PEX records average PE of 19.7x and average P/BV of 1.10x in Q1 2024

JCC approves distributing 10% cash dividends for the year 2023



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