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Al-Quds Index starts June with an increase and new anticipation appears

2023-06-01

 Sahem weekly trading report (28-05)-(01-06)-2023

With the start of June, Al-Quds Index rebounded upwards, closing at 653.81 points; up by 653.81% than the previous week. While the liquidity is still scarce, lacking any momentum and institutional transaction that may increase the trading value in Palestine Stock Exchange PEX from time to time amid the absence of general incentives and lack of substantial news on the listed companies. However, with the start of June, the PEX witnesses new anticipations towards the semi-annual financial data disclosures of this year, leading the observer to at least predict a stability in the annual yield.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports increased in March, 2023 by 9% compared to February, 2023. It also increased by 28% compared to March, 2022 and reached $148.9 million. Also, Imports increased in March, 2023 by 16% compared to February, 2023. It also increased by 3% compared to March, 2022 and reached $734.4 million. While the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 18% in March, 2023 compared to February, 2023. While it decreased by 2% compared to March, 2022 and reached $585.5 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS also, the overall Producer Price Index (PPI) for Palestine with its base year (2019) reached 107.92 in April 2023, as it decreased by 0.31% compared to 108.25 in March 2023. The decline in PPI for April 2023 was traced back to the decline in prices of the following major activities compared to the previous month: water supply; sewerage, waste management and remediation activities declined by 3.78%, which constitute 1.50% from total products’ prices. Agriculture, forestry and fishing declined by 0.86%, which constitute 29.94% from total products’ prices. On the other hand, manufacturing increased by 0.03%, which constitute 58.92% from total products’ prices. While, electricity, gas, steam and air conditioning supply stabilized in April at the level 111.56, which constitute 8.23% from total products’ prices. Also, mining and quarrying stabilized at 103.56, which constitute 1.41% from total products’ prices.