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2024-08-08
Sahem weekly trading report (04-08)-08-2024
In this week, the general performance of Palestine Stock Exchange PEX was relatively conservative amid relatively weak trading that lacked any momentum and executing institutional transactions that may raise the trading value in the PEX from time to time. On the other hand, Al-Quds Index continued its decreasing, to decline below the 500 points level, and record 485.62 points; down by 4.32% than the previous week after trading in a relatively wide range. Regarding the blue-chips, they witnessed noticeable declines in their prices than the previous week. However, the listed companies continued to determine dates to hold their board of directors meetings to discuss and approve the financial data for H1 2024, whereby, the anticipation for the semi-annual financial data continues to be the most dominating factor on the PEX in this period.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 74.72 during June 2024 with a sharp decrease of 29.77% compared to 106.39 in June 2023 (Base Year 2019). Compared with previous month, the overall IPI in Palestine reached 74.72 during June 2024 with a decrease of 4.74% compared to 78.44 in May 2024 (Base Year 2019). IPI for June 2024 decreased due to the decrease in the activities of manufacturing industry by 7.38%, which had a share of 87.89% of the total industry, and the activities of water supply, sewerage, waste management and remediation by 6.68%, which had a share of 1.84% of the total industry. While, the activities of electricity, gas, steam and air conditioning supply increased by 19.47%, which had a share of 7.38% of the total industry, and the activities of mining and quarrying by 2.25%, which had a share of 2.89% of the total industry.
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