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Al-Quds Index stands-still in the last week of August

2023-08-31

 Sahem Weekly Trading Report (27-31)-08-2023

In the last week of August, Al-Quds Index stood still without any change than the previous week, recording 643.51 points. While Palestine Stock Exchange PEX witnessed scarce trading, missing any institutional transaction that may raise the trading value from time to time. Regarding the blue-chips, most of them closed with decline in their prices and the others stood-still, closing with no change than the previous week. On another hand, and as obvious to the observer, the next month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of 2023, because of their ability to boost the price jumps to chart the trend of the market until the end of the year

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the Construction Cost Index (CCI) for residential buildings in the West Bank reached 120.10 with a slight increase of 0.05% during July 2023 compared with June 2023 (base year 2013). At the level of major groups, the prices of raw material increased by 0.10%. While, the prices of rental of equipment decreased by 0.19%. At the same time, the prices of the labour costs and wages remained stable during July 2023 compared with the previous month. On the other hand, the Construction Cost Index (CCI) for non-residential buildings in the West Bank reached 119.16 with a slight increase of 0.03% during July 2023 compared with June 2023 (base year 2013). At the level of major groups, the prices of raw material slightly increased by 0.06%. While, the prices of rental of equipment decreased by 0.22%. At the same time, the prices of the labor costs and wages remained stable during July 2023 compared with the previous month.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, exports decreased in June, 2023 by 8% compared to May, 2023. It also decreased by 1% compared to June, 2022 and reached $130.6 million. Moreover, imports decreased in June, 2023 by 6% compared to May, 2023. While it increased by 4% compared to June, 2022 and reached $678 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 5% in June, 2023 compared to May, 2023. While it increased by 5% compared to June, 2022 and reached $547.4 million.