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Lack of liquidity and the PEX modifies the composition of Al-Quds Index

2024-01-18

 Sahem weekly trading report (14-18)-01-2024

In this week, trading in Palestine Stock Exchange PEX lacked any quality, and conservatism controlled the investors’ behavior coinciding with the continuation of the Israeli aggression on Gaza Strip and the routinely anticipation for the listed companies’ annual financial data and dividends distribution trends for the year 2023 and what will devolve in their financial decisions accordingly. Whereby, liquidity scarceness dominated trading for this week, and the PEX lacked any institutional transaction that may increase the trading value from time to time. This coincided with the showiness that is leaning to boredom in the price movements due to heaviness in filling the selling and purchasing orders. Whereby, with the beginning of February, 15 days remain to the legal period granted by the PEX to the listed companies to disclose their financial and operational annual data from the 45 granted days.

Regarding the significant news and within its yearly modification that coincides with the end of the year 2023, Palestine Stock Exchange PEX reviewed the composition of Al-Quds Index for the year 2024 and made some changes to the companies included in the old composition of the year 2023, whereby, the number of companies are still 16 companies out of 49 listed companies same as the year 2023. While the new composition consists of 2 new companies: Palestine Investment Bank in the banking and financial services sector and Palestine Industrial Investment Company in the investment sector instead of Palestine Electric Company in the services sector and Jerusalem Pharmaceuticals in the industry sector . The new composition consists of, from the banking and financial services sector: Bank of Palestine, the National Bank, Palestine Islamic Bank, The Arab Islamic Bank, Al-Quds Bank, and Palestine Investment Bank. From the insurance sector: The National Insurance Company. From the investment sector: Palestine Development & Investment “ PADICO HOLDING”, Arab Palestinian Investment “APIC”, Palestine Real Estate Investment ,Arkaan Real Estate Company, and Palestine Industrial Investment Company. From the industry sector: Jerusalem Cigarette and Birzeit Pharmaceuticals. And from the services sector: Palestine Telecommunications, and Wataniya Palestine Mobile Telecommunications.