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Al-Quds Index records gains with the approaching end of May

2024-05-23

 Sahem weekly trading report (19-23)-05-2024

In this week, Al-Quds Index traded in a relatively wide range, closing at the level of 537.55 points; up by 0.59% than the previous week. And if we exclude the institutional transactions, the normal trading is still weak, lacking any momentum. Whereby, several medium-volume transactions were executed in this week, on the stocks of: Arkaan Real Estate ARKAAN, Tamkeen Palestinian Insurance Company TPIC, Ibn Sina Specialized Hospital ISH, and Palestine Real Estate Investment PRICO, to raise the trading value in Palestine Stock Exchange to a relatively medium level.  On the other hand, the listed companies continued to hold their general assembly meetings to approve dividends distribution for the shareholders for the year 2023.

Regarding the dividends distribution approvals for the year 2023, and in the pharmaceuticals sector, the general assembly of Jerusalem Pharmaceuticals Company JPH approved, in its meeting on 20/05/2024, distributing 10% cash dividends for the year 2023, to record dividends yield of 2.62% based on the price on the entitlement date. Also, the general assembly of Beit-Jala Pharmaceuticals BJP approved in its meeting on 21/05/20214, distributing 10% cash dividends for the year 2023, to record dividends yield of 3.57% based on the price on the entitlement date. On the other hand, the general assembly of Palestine Poultry Company AZIZA approved, in its meeting on 22/05/2024, distributing 12% cash dividends for the year 2023, to record dividends yield of 4.00% based on the price on the entitlement date. Also, the general assembly of the National Carton Industry Company NCI approved in its meeting on 23/05/2024, distributing 12% cash dividends for the year 2023, to record dividends yield of 6.25% based on the price on the entitlement date.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports decreased in March, 2024 by 18% compared to March, 2023 and reached $122.4 million. Also, imports decreased in March, 2024 by 29% compared to March, 2023 and reached $521.5 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 32% in March, 2024 compared to March, 2023 and reached $399.1 million.