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2024-07-04
Sahem weekly trading report (30-06)-(04-07)-2024
In this week and with the end of June, Al-Quds Index continued to decline after trading in a relatively narrow range. However, two transactions were executed in this week, raising the trading value to a relatively medium level. Whereby a transaction of 2.00 million shares was executed on the stocks of Palestine Development and Investment Company PADICO and a transaction of 1.00 million shares was executed on the stocks of Arkaan Real Estate Investment ARKAAN. On the other hand, and with the disclosures’ completion of 45 companies out of 49 listed companies required to disclose their data for Q1 2024, the PEX records an average PE ratio of 19.7x and an average P/BV of 1.10x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 38.58% from total disclosed companies’ profits attributable to the parent companies; the largest percentage among all sectors. Whereby, 88% of the companies that disclosed their data in the sector recorded profits in Q1 2024. According to the disclosed data, the average PE of the sector records 13.6x, the lowest percentage among all sectors, and average P/BV reached 0.81x, the lowest percentage among all sectors as well. However, the sector’s profits attributable to the parent companies declined by 49.38%. While, Bank of Palestine BOP constitutes the lion’s share of 60.06% from the total achieved profits attributable to parent companies in the sector. In another context, the insurance sector contributed in 5.01% from total disclosed companies’ profits attributable to the parent companies; the lowest contribution among other sectors. Where 75% of the companies disclosed their data in their granted period, while, all companies recorded profits in Q1 2024. According to the disclosed data, the insurance sector records an average PE of 21.5x, and an average P/BV of 1.36x.
In the services sector, 80% of the sector’s companies disclosed their Q1 2024 financial results; where the services sector contributed by 21.55% from the total disclosed companies among all sectors in the PEX, while two company couldn’t disclose their data within the granted period. Whereas, 63% of the disclosed companies in the sector recorded profits in Q1 2024, while 37% of them realized net losses in Q1 2024. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 80.87% from the total sector’s profits attributable to the parent companies, in which declined in total by 47.64% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 27.9x, and average P/BV of 2.10x; the highest among all sectors.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 28.05% from the total disclosed companies’ profits attributable to the parent companies. While, the investment sector’s profits attributable to the parent companies declined by 42.98% in Q1 2024. Where the sector records an average PE of 18.0x, and average P/BV of 0.88x. Regarding the Industry sector, it witnessed a decline in the sector’s profits attributable to the parent companies by 58.45% in Q1 2024; constituting 6.81% from total sector’s profits attributable to the parent companies, whereby, Palestine Poultry Company AZIZA and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 103.05% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 34.4x, and average P/BV of 1.15x.
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