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Relative quietness in the PEX with the start of 2024

2024-01-04

 Sahem weekly trading report (31-12-2023)-(04-01-2024)

The first four trading sessions of the year 2024 were not characterized with any quality, whereby, the liquidity levels in Palestine Stock Exchange PEX are still scarce, and the price movements are still slow amid a relative quietness among the investors with their different types, especially with the continuous Israeli Aggression on Gaza Strip for this day. Where, Al-Quds Index ended this week at the level of 577.54 points; down by 1.64% than the previous week after trading in a relatively wide range. While the yearly closing of the year 2023 was the lowest since the year 2021, to record 588.65 points; down by 7.98% than the previous year. Moreover, the stocks of blue-chips- with heaviest weights and effects on Al-Quds Index- witnessed a decline in their prices than the year 2022. On another hand, the coming period will witness an increase in anticipation among of investors’ types for expecting the annual financial data disclosures of the listed companies.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, primary estimates for GDP at constant prices showed an increase of Gross Domestic Product in Palestine by 1% during the 3rd quarter 2023 compared to the previous quarter of the same year, mainly in mining, manufacturing, electricity and water by 6%, construction by 5%, information and communication activities by 3%, financial and insurance activities by 2%, services by 0.3%.  Meanwhile, there was a decrease in agriculture, forestry and fishing by 10%, public administration and defense by 6%, wholesale and retail trade, repair of motor vehicles and motorcycles by 4%, transportation and storage by 0.3%. On the other hand, it showed an increase of 3% in Palestine during the 3rd quarter 2023 compared to the 3rd quarter 2022 at constant prices, which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 3rd quarter 2023 at constant prices was $3,346 million for the West Bank and $672 million for Gaza Strip.

Furthermore, GDP per Capita for Palestine at constant prices was $773 during the 3rd quarter 2023, it showed an increase of 0.5% compared to the 2nd quarter 2023. As for the West Bank it was $1,129 at constant prices during the 3rd quarter 2023, it showed a decrease by 0.1% compared to the 2nd quarter 2023, while for Gaza Strip it was $301 during the 3rd quarter 2023, and it showed an increase by 4% compared to the 2nd quarter 2023.