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The PEX under heavy lack in liquidity and growing anticipation

2024-01-25

 Sahem weekly trading report (21-25)-01-2024

In the penultimate week of the first month of 2024, Al-Quds Index continued to decline amid lack of liquidity, price movement deadlock and absence of executing institutional transactions than may increase the trading value in the market from time to time. This came in parallel to the continuous Aggression on Gaza Strip and the difficult economic and political situation that the war leaves, in addition to the increase in the investors’ anticipation for the listed companies’ annual financial and operational data disclosures for the year 2023 and dividends distribution recommendation. Whereby, with the beginning of February, 15 days remain to the legal period granted by the PEX to the listed companies for disclosing their annual data from the 45 granted days. However, the boards of directors accelerate to announce, in this period, the dates of holding their meetings as a preliminary step to start to disclose their annual financial data for the year 2023.

In the same context, some of the listed companies determined dates to hold their board of directors meetings in order to discuss and approve the financial and operational data for the year 2023. Whereby, the board of director BOD of Bank of Palestine BOP will be holding a meeting on 28/01/2024. Also, the BOD of both Trust International Insurance Company TRUST and the National Insurance Company NIC will be holding meetings on 12/02/2024. In addition the BOD of Al-Wataniah Towers Company ABRAJ will be holding a meeting on 14/02/2024.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports increased in November 2023 by 9% compared to October 2023. While it decreased by 36% compared to November 2022 and reached $100.8 million. On the other hand, imports decreased in November 2023 by 14% compared to October 2023. It also decreased by 33% compared to November 2022 and reached $502.5 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 18% in November 2023 compared to October 2023. It also decreased by 32% compared to November 2022 and reached $401.7 million.