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$51 million is the gains of Palestine securities exchange in the first week of the New Year

2009-01-11

Palestine Securities Exchange started its new year by gaining Al-Quds index of % 3.25 in the first week of the year, to reach $51 million as gains this week. After the stock market was affected negatively in the last week of the year 2008, which had witnessed the start of the Israeli war on the Gaza Strip, it seems that the stock market managed to bypass this shock in the following week (the first year, 2009). The leading shares especially the Palestinian Telecommunications Company PALTEL, was the main lever Al-Quds index, as PALTEL rose by %2.63 to close at the level of JD 5.07 representing about 3 million dollars that constituted %62.72 of the total market transactions. PALTEL had vouched intensive demands for the second week in a row versus scarce and almost non-existent offers sometimes. Al-Quds index closed the trading week on 456 points, a rise of 14.34 points from the level it closed the previous week. Four sectors indices recorded an increase compared to a decline in the insurance sector. Accompanied by the rise in the index, there was a decline in market activity as the rate of decline in the number of shares traded reached %67.7 to reach about 400 thousand shares as daily average in the last week comparing to about 1.23 million shares as daily average in the previous week. The trading value rate fell by %39.40 to about $1.2 million per day last week comparing to about two million dollars in the previous week. In total, 1468 transactions were executed last week that included about 1.6 million shares that worth about $4.87 million compared with 717 transactions in the previous week that included about 2.46 million shares that worth about $ 4 million. The past week had vouched four trading sessions, compared to only two in the previous week.