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Several transactions raise the trading value to a relatively noticeable level

2023-09-14

 Sahem Weekly Trading Report (10-14)-09-2023

In this week, executing several transactions of 15.52 million shares on several shares raised the trading value in Palestine Stock Exchange to a relatively noticeable level. Whereby, several transactions of 6.47 million shares were executed on the stock of Palestine Industrial Investment Company PIIC, a transaction of 5.42 million shares was executed on the stock of Beit-Jala Pharmaceuticals BJP, a transaction of 1.45 million shares was executed on both stocks of Palestine Telecommunications PALTEL and Arkaan Real Estate Company ARKAAN, a transactions of 0.64 million was executed on the stocks of Palestine Development & Investment Company PADICO, and a transaction of 0.09 million shares was executed on the stocks of Palestine Poultry Company AZIZA. On another hand, the normal trading witnessed lack of momentum amid weak selling offers in their depth. Regarding Al-Quds Index, it declined by 0.30% than the previous week, to close at the level of 640.48 points. In another context, despite the different and varied investors' motives in the PEX, but the current recorded price levels by the companies’ stocks are considered attractive to buy. Moreover, as obvious to the observer, the current month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of this year, because of their ability to boost the price jumps to chart the trend of the PEX until the end of the year.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during August 2023 recorded an increase by 0.73% compared with July 2023 (0.79% in the West Bank, 0.70% in Jerusalem, and by 0.59% in Gaza Strip). The changes in Palestinian CPI during August 2023 were traced back to the increase in prices of the following expenditure sub groups compared with previous month: fresh vegetables by 8.90%, fresh chicken by 8.26%, potatoes by 6.09%, dried vegetables by 5.92%, liquid fuel for car "diesel" by 5.23%, eggs by 3.88%, versus a decline in the price of fresh fruits by 2.28%. The Palestinian CPI during August 2023 increased by 4.90% compared with August 2022 (5.37% in the West Bank, 4.07% Jerusalem, and by 3.90% in Gaza Strip).