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Al-Quds Index in the green zone with the start of the holy month Ramadan

2025-03-06

 Sahem weekly trading report (02-06)-03-2025

With the start of March and the holy month Ramadan, Al-Quds Index closed in the green zone, trading in a relatively narrow range. While the normal trading was scarce, lacking any trading momentum and there were absence of institutional transactions that may raise the trading value in market from time to time.  This coincided with the routine trading period of the holy month of Ramadan despite the clearer vision that was formed of the financial returns expectations with the momentum increase of the dividends distribution proposals. However, in waiting for new positives with the approaching end of Q1 2025 to start the anticipation for the quarterly financial data, the investors’ appetite is still open to grab investment positions’ opportunities.

In terms of the significant news of this week, the listed companies continued to raise their recommendations to distribute dividends for the shareholders for the year 2024. In the insurance sector, the board of directors of Tamkeen Insurance Company TPIC proposed to the general assembly, which will be holding a meeting in the last third of April 2025, distributing 7% cash dividends for the year 2024, to record dividends yield of 3.68% based on the current market price. It also proposed distributing 3% stocks dividends for the year 2024, to raise the paid-up capital from $13.10 million to $13.50 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 79.25 during January 2025 with a decrease of 1.26% compared to 80.26 during December 2024 (Base Year 2019). IPI for January 2025 decreased due to the decrease in the activities of water supply, sewerage, waste management and remediation by 21.57%, which had a share of 1.84% of the total industry, the activities of mining and quarrying by 7.03%, which had a share of 2.89% of the total industry, and the activities of manufacturing industry by 1.21%, which had a share of 87.89% of the total industry. While, the activities of electricity, gas, steam and air conditioning supply increased by 5.18%, which had a share of 7.38% of the total industry.