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Al-Quds Index continues to decline with the approaching end of July

2024-07-25

 Sahem weekly trading report (21-25)-07-2024

With the approaching end of July, the trading pace in Palestine Stock Exchange PEX didn’t differ than the trading pace in the previous weeks. Whereby, it is still quiet and weak regarding the price movements. While the performance of one listed stock didn’t exceed any other. Where, Al-Quds Index closed at the level of 508.69 points; down by 0.77% than the previous week after. However during this week, a transaction of 0.94 million shares was executed on the leading stock of the Arab Palestinian Investment Company APIC. On the other hand, the anticipation increases for the semi-annual financial data disclosures, whereby, the legal granted period to disclose H1 2024 financial data was postponed from 15/08/2024 to 15/09/2024.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports decreased in May, 2024 by 12% compared to May, 2023 and reached $125.9 million. Also, imports decreased in May, 2024 by 24% compared to May, 2023 and reached $545.1 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 27% in May, 2024 compared to May, 2023 and reached $419.2 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, the overall Wholesale Price Index in Palestine during the Second Quarter of 2024 recorded a sharp increase by 6.26% compared with the First Quarter of 2024  (14.73% for local consumed products, and  by 2.73% for imported products). Whereby the continuous Israeli aggression on Gaza Strip constituted in raising the products prices for the second quarter of 2024. Whereby, the prices of Wholesale trade, except of motor vehicles and motorcycles increased by 6.98%, constituting 89% from total wholesale prices. While the prices of the wholesale and retail trade and repair of motor vehicles and motorcycles declined by 0.31%, constituting 11% from total wholesale prices.