NABLUS, December 17, 2009 (WAFA)- Regional markets recovered in effect of Abu Dhabi's announcement in the middle of the week regarding the financial support of $10 billion to Dubai Financial Support Fund to cover a portion of Dubai World Group obligations, in which Dubai's government had allocated $4.10 billion to pay the due bonds of Nakheel on Dec, 14, 2009, as the remaining had been allocated to pay the operating and interests expenses of Dubai World, markets witnessed profit taking movement in the last trading sessions in effect of the gains that had been led by Dubai in the beginning of the week within the fears of Dubai's debt which still governs the investment atmosphere in the regional markets.
Palestine Securities Exchange performance was similar to other markets in terms of growth but in lower rate, where Al-Quds index closed at the end of the week with a slightly increase of %0.53 to close at the level of 491.33 points, when anticipation had dominated the investors waiting for the developments in the regional markets after the financial support that had been granted to Dubai.
Services sector's index ascended by %0.30, simulated by the institutional transaction that had been executed on PALTEL's share of 0.50 million shares which constituted approximately %81 from gross traded shares on the share and %15 from aggregate trading volume of the PSE for this week, PALTEL closed at the level of JD 5.19 rising by %0.19 to trade 0.62 million shares that valued $4.47 million. AHC vouched a noticeable activity where trading volume had reached 0.40 million shares with a value of $0.47 million, advancing by %1.22 to close at the level of JD 0.83, it is worth to mention that it had been decided to hold the company's board meeting on Dec,20, 2009. In the same sector, PEC rose by %2.04 and closed at the level of $1.00, while WASSEL declined by %1.67 when closed at the level of JD0.59.
Investment sector's index advanced slightly by %0.22, where UCI gained by %8.47 within medium trading of $0.12 million to end the transactions at the level of $0.64, where the company's board of directors that had been convened on Dec, 13, 2009 had approved the recommendation to the next general assembly of profit distribution to shareholders not less than %7.50 of the company's capital, and the board also approved to diversify the investment portfolio upon the chairman's decisions. The performance of the leading share PADICO was oppose to the market's performance, when declined by %1.64 ending its transactions at the level of $1.20 within trading of 0.76 million shares that valued $0.92 million.
In the same sector, PRICO signed an agreement for executing the building the headquarters of Council of Ministries with a cost of $6.10 million within the project of building the Ministries Complex which its aggregate cost amounted $31 million, where PRICO's share gained remarkably by %8.33 to close at the level of JD 0.78 within transactions that hadn’t exceeded $17 thousands.
Banking sector's index earned by %0.84, simulated by the advance of BOP by %1.39 when it closed at the level of $3.65 after trading 0.43 million shares that valued $1.57 million to constitute alone %80 from sector's gross trading value. As for ISBK, it vouched an active transaction of $0.30 and ascended by %2.86 closing at the level of $0.72. Banking sector's trading value constituted %23.71 from the aggregate PSE trading value, to be the second sector in the market in terms of trading value.
