The market-cap weighted "Al-Quds Index" today exceeded the highest level ever recorded since establishment of the Exchange, reaching 510.67 points. It was the first time it reached the resistance level of 500 during today's session after less than one month of reaching the resistance level of 400 in 28/02/2005. The index recorded an increase of 84% since the beginning of the year.
According to Bakheet Financial Advisors in Saudi Arabia, PSE ranked first among Arab Capital Markets in terms of yearly index growth as of 20/03/2005.
With heavy trading volumes and upward trend of shares prices, market capitalization has become today very close to two billion US Dollars, growing by more than 80% compared with the market capitalization at the end of last year.
The shares of 16 companies were traded, the shares prices of 10 companies rose, the shares prices of 3 declined, and the shares prices of 3 were unchanged.
Seven companies out of the ten gainers were traded on the limit up prices (All shares are permitted to trade 5% up or down from the last close prices in one session). Those seven companies were, Arab Islamic Bank (AIB), National Insurance Company (NIC), Palestine Development and Investment Company (PADICO), Palestine Telecommunications Company (PALTEL), Palestine Industrial Investment Company (PIIC), Arab Palestinian Shopping Centers Company (PLAZA), and The Vegetable Oil Industries Company (VOIC). The three losers were traded on the limit down prices or close. Those companies were, Palestine Poultry Company (AZIZA), Palestine Plastic Industrial Company (LADAEN), and Palestine Electric Company (PEC).
Trading volume for Monday 21/3/2005 reached JD 8.4 million equivalent to US 11.9. More than 2.1 million shares were traded through 685 transactions.