Volumes at the Palestine Securities Exchange (PSE) have once again declined, although the activity in itself is more profound, seeing as a greater number of stocks are being traded, reported Atlas Investment Group, a Jordan-based research firm.
Approximately 200,000 shares changed hands in deals worth 23,000 Jordanian dinars ($32,000), as the Al-Quds Index experienced a six percent hike, closing at 155.18.
The Palestine Development and Investment Company (PADICO) and the Palestine Telecommunications Company (PALTEL) were the only advancers of the week, both climbing by more than eight percent. PADICO had 100,000 of its shares change hands as it ended the week at $0.76, while PALTEL had less than 20,000 of its shares trade, closing at JD 2.68.
The National Insurance Company (NIC) and Gaza Ahliea (GAIC) were among the contenders this week. NIC shed one percent as it reached JD 1.94 while GAIC was among the major decliners, falling five percent to $1.63. The Jerusalem Cigarette Company (JCC) also retracted this week, dropping one to JD 2.45. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
