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Palestine Securities Exchange Announces the modified sample of Al Quds index for 2010

2010-01-04

Nablus - Mr. Ahmad Awaida the Chief Executive Officer of Palestine Securities Exchange announced the annual audit by the market for Al Quds index calculation and the modified sample involved in the calculation, in which it will take action starting from trading session of Sunday 03/01/2010. The number of companies involved in calculating the index reached 12 companies representing all sectors t in the market. In time of modifying the sample involved in the calculation of the index a set of criteria are taken into account, particularly the number of sessions that the share had traded in , which reflects the activity of the stock, in addition to turnover ratio, market capitalization of each company, the number of executed transactions, and trading volume. And the representative sample of Al Quds index in 2010 is composed of the following companies: Industry Sector: Birzeit Pharmaceutical Company (BPC), Golden Wheat Mills Company (GMC).  The insurance sector: a group company to be Ahliea Insurance Group (AIG). The banking sector: Arab Islamic Bank (AIB), Bank of Palestine (BOP), and Alrafah Microfinance Bank (AMB). Services Sector: Palestine Telecommunications Company (PALTEL), Palestine Electric Company (PEC), and the Palestinian company for distribution and logistics services (WASSEL). Investment sector: Palestine Development and Investment (PADICO), the Palestine Industrial Investment Company (PIIC), and Union Reconstruction and Investment (UCI).  12 companies were chosen out of 39 listed companies, where the sample constitutes more than 30% of the total number of companies, while the market capitalization for the sample companies constitutes more than 80% of the overall market capitalization of the listed companies. Al Quds Index is an index which gives the investor a general idea of the direction of the market"s performance, as indices are the most important indicators for stocks level of prices and determine the general trend of prices, and also used to measure changes in stock prices during a certain period compared with the other.