NABLUS, March 11, 2010 (WAFA)- Palestine Securities Exchange was not absent from what is going on from events in the Arab markets. The contrast in performance was the general pattern of trading this week, [March 7-11].
Local investor has almost touched the external good news to rush into the buying section in the Palestinian market, otherwise; it joins the others in the anticipation line to exchange market and investment news, to turn the tides without enhancing the investment situation, and keep our market that is featured with distinguished performance waiting for new alternatives, including a new liquidity to recover the market or a change in the current pattern of traders by deepen their trust in the performance of listed companies.
Al- Quds index ended the week’s transactions with a slight increase of %0.88 to close at the level of 528.69 points, in effect of trading 5.05 million shares that valued $8.60 million, to raise the prices of 20 companies’ shares from 29 traded companies for this week.
Investment sector’s index advanced by %1.35, where PADICO increased by %0.77 and closed at the level of $1.31, through medium transactions that valued $1.45 million, to constitute approximately %17 from market’s transactions value for this week. In the same sector, PIIC grew remarkably by %5.41 to end the week at the level of JD0.78 after transactions of $0.55 million, also UCI increased noticeably by %7.14 and closed at the level of $0.75 through transactions that valued $0.12 million, while the company’s board of directors decided to hold the general assembly’s meeting on 30/03/2010 to discuss its recommendation of distributing %7.50 as cash dividends to the shareholders.
Services sector’s index ended the week’s transactions with a slight increase of %0.79, when PALTEL closed advancing by %0.71 within transactions that valued $2.70 million constituting %31.42 from market trading value, to end the week’s transactions at the level of JD5.69. In the same sector, GCOM rose by %1.08 to close at the level of $0.94 through transactions of $40 thousands, while AHC stabled at the level of JD0.86.
Banking sector’s index gained slightly by %0.63, stimulated by AMB which in its turn earned remarkably by %11.39 ending its transactions at the level of $0.88 through trading of 1.55 million shares that constituted %30.79 from market aggregate volume, it is worth to mention that the bank’s board of directors discussed the capital raise in its meeting on 11/03/2010 where they approved to complete the procedures to merge with one of the operating banks in Palestine to cove the bank’s capital. In the same sector, BOP increased by %0.27 to close at the level of $3.70 after transactions of $1.48 million, while ISBK declined by %2.33 to close at the level of $0.84 through medium transaction of $0.16 million.
