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Al-Quds Index at its highest level in the year amid growing anticipation among investors

2023-02-02

 Sahem weekly trading report (29-01)-(02-02)-2023

With the start of February and the expectations’ variation among investors regarding the listed companies’ profits of the year 2022 and their recommendations regarding distributing dividends for the investors, Al-Quds Index traded at its highest level in the year, recording gains of 0.93% than the previous week and by 1.95% than the end of the year 2022, to settle at 652.16 points. On the other hand, Palestine Stock Exchange PEX lacked any trading momentum and absence of executing institutional transactions that may increase the trading value in the market from time to time. However, the anticipation increases coinciding with the approaching end of the legal period granted by the PEX to the listed companies to disclose their preliminary annual financial data on February 15th. Whereby, the following week is expected to witness a momentum in this regard. On another hand, the listed companies continue to raise their recommendations to distribute dividends for the shareholders for the year 2022. Whereby, the board of directors of Nablus Surgical Center NSC raised a recommendation to the general assembly to distribute 10% stocks dividends for the year 2022, to raise the paid-up capital from 3.18 million shares to 3.50 million shares. It also recommended distributing 5% cash dividends for the year 2022.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports increased in November 2022 by 14% compared to October 2022. It also increased by 6% compared to November 2021 and reached $157.4 million. Also, imports increased in November 2022 by 9% compared to October 2022. It also increased by 18% compared to November 2021 and reached $750.6 million. While the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 8% in November 2022 compared to October 2022. It also increased by 22% compared to November 2021 and reached $593.2 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, the overall Producer Price Index PPI in Palestine with its base year (2019) reached 105.32 in 2022, which indicates a sharp increase by 7.43% compared to 2021. Prices of PPI for 2022 increased due to the sharp increase in the prices of goods in the following major activities: electricity, gas, steam and air conditioning supply activities by 12.76%, agriculture, forestry and fishing activities by 12.26%, water supply; sewerage, waste management and remediation activities by 6.31%, manufacturing activities by 4.78%, and mining and quarrying activities by 3.03% in 2022 compared to 2021.