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2023-09-27
Sahem weekly trading report (24-27)-09-2023
In this week with four trading sessions, Al-Quds Index continued to decline as well, realizing loss of 0.56% than the previous weekly closing level, to record 633.70 points. This came due to a decline in the prices of most blue-chips with heaviest weights in the Index, despite witnessing active trading in the market this week. Whereby, with the end of the third quarter of the year 2023, Palestine Stock Exchange entered the legal period granted to the listed companies to disclose their 9M 2023 financial data, to raise the anticipation once again for the PEX and investors particularly towards the accumulated yield in their minds. Undoubtedly, the expectations for companies’ financial data vary based on what had been announced in the first half of 2023 and what was laid out for possible impacts in the third quarter. Accordingly, the listed companies’ stocks performance varied this week following the fundamental factors and the ease of the liquidity movement.
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 119.77 with a decrease of 0.28% during August 2023 compared with July 2023 (base year 2013). At the level of major groups, the prices of raw material decreased by 0.50%. While, the prices of rental of equipment increased by 0.40%. At the same time, the prices of the labor costs and wages remained stable during August 2023 compared with the previous month. On the other hand, the Construction Cost Index (CCI) for non-residential buildings in the West Bank reached 118.79 with a decrease of 0.31% during August 2023 compared with July 2023 (base year 2013). At the level of major groups, the prices of raw material decreased by 0.54%. While, the prices of rental of equipment increased by 0.40%. At the same time, the prices of the labor costs and wages remained stable during August 2023 compared with the previous month.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, exports increased in July, 2023 by 8% compared to June, 2023. It also increased by 15% compared to July, 2022 and reached $141.1 million. Also, imports increased in July, 2023 by 3% compared to June, 2023. It also increased by 2% compared to July, 2022 and reached $699.6 million. While, the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 2% in July, 2023 compared to June, 2023. While it decreased by 1% compared to July, 2022 and reached $558.5 million.
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