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Al-Quds Index in the red zone with the approaching end of January

2025-01-23

 Sahem weekly trading report (19-23)-01-2025

In the penultimate week of January, Al-Quds Index touched levels that has abandoned since June 2024, while rebounded from closing at 501.03 points; down by 3.93% than last week, after trading in a relatively wide range. Moreover, the largest stock in the investment sector in Palestine Stock Exchange PEX by market capitalization – Palestine Development and Investment Company PADICO- witnessed trading activity and executing medium-volume transactions. While the normal trading in the PEX lacked any quality, and the conservatism controlled the investors’ behavior coinciding with the routinely anticipation for the listed companies’ annual financial data and dividends distribution trends for the year 2024 and what will devolve in their financial decisions accordingly. In the same context, the boards of directors accelerate to announce, in this period, the dates of holding their meetings as a prior step to disclose their annual financial data for the year 2024.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports increased in November 2024 by 41% compared to November 2023 and reached $142 million. Also, imports increased in November, 2024 by 1% compared to November, 2023 and reached $506.2 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 9% in November, 2024 compared to November, 2023 and reached $364.2 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, a sharp increase in the Consumer Price Index CPI in Palestine was witnessed during 2024 compared with 2023, driven by prices levels that Gaza Strip markets had never witnessed before, as a result of the Israeli aggression against Gaza Strip since October 7th, 2023, as consumer prices increased by 237.98% in Gaza Strip, 3.84% in Jerusalem, and 2.48% in the West Bank. Where the continued Israeli aggression against Gaza Strip during 2024 has had the most significant impact on the increase in the prices of consumer goods, where the CPI recorded a sharp increase by 53.67% in Palestine during 2024, which led to a decline in the purchasing power by 34.93%. Gaza Strip recorded the highest decline percentage in purchasing power, as it declined by 70.41%, while it declined by 3.7% in Jerusalem, and by 2.42% in the West Bank.