Thread: The stock market rises 8%, the highest number of contracts carried out in four years

The stock market rises 8%, the highest number of contracts carried out in four years

Iraqi Stock Exchange index rose, on Thursday, a rate of 8,530% when it closed at 224,221 points, which saw the shares fifty companies and the implementation of 622 held by the trading, the highest number of contracts carried out in one meeting, since almost four years.

The KSE index closed meeting last year, down by 13% when it closed at 206,598 points.

According to statements of the Iraqi Stock Exchange, today's meeting has seen circulation of more than 3.726 billion shares worth over 8,673 billion dinars (7.4 million U.S. dollars) achieved through the implementation of 622 contract traded, the highest number of contracts carried out in one meeting, since almost four years.

In the view of investors in his statement to the Agency (Voices of Iraq) that "the number of contracts that have been implemented is not surprising because of the activity in the stock market for more than a month after the availability of financial liquidity," adding that "the source of several places, some of the return from exile and another shift from books to provide investors in the banks to reduce interest rates after the "last" came from private banks following the central decision to reduce their usefulness to 11%, making profit from the sale and purchase of shares more than the interest rate."

The stock market investor, "many of those affected by inflation as liquidity demand for shares motivation with their prices upward in different proportions according to the expectations of investors and speculators, the utility company's investment in this or that," adding that "the general trend today is to diversify the investment portfolio to the conviction of the usefulness of diversification because it would preservation of capital in the case of the low price of a company unexpectedly."

The meeting today (Thursday), the sixth for the month of March being fifty shares traded company contribution rates increased prices of 32 stocks, while the price rates of shares only 5 companies, 13 companies remained in the same previous rates.

Distinguish the banking sector at today's meeting to achieve the highest circulation in terms of the number of shares traded 59.2% and volume by 54.4%, with shares of 15 companies traded bank stocks rose the rates of 9 companies are Bank of Babel by 16.1% and bank credit grew 10.1% and the Investment Bank by 8.8%, and the Gulf Bank by 6%, Sumer Commercial Bank and Union Bank of Iraq, or 5.2%, and the Middle East Bank and the Bank of Basra by 4% and finally the Bank of Baghdad, by 2%, while the rates of the two stocks are United Bank by 2.2% and the North Bank by 1.7%, and maintained 4 companies bank on the same rates of the previous prices, the banking index closed b 41,960 points, up by 0,879% from the previous meeting.

The services sector came second, "in terms of the number of shares traded by 33% and volume by 35.7%, as the shares of eight companies, service, rates rose gainers 3 companies are the world real rate of 11.1% and petroleum products transportation company by 10% and finally to Baghdad, car services by 4.1% and decreased the rate of the Iraqi company's share price of road transport by only 2.5% and 4 companies maintained the same levels of service to the former prices, and closed the service b indicator 92,592 points, up by 0,529% from the previous meeting.

Habib says the investor Yako told (Voices of Iraq) that "in the service sector includes a number of companies within the last period has increased their prices and most profitable carriers in nature, whether at the level of companies or individuals," especially after "contracts entered into by carriers with the Ministry of Commerce for the transfer of items ration card or with a Zarpwalnaft for the transfer of derivatives. "

With the view that another investor, "the service sector, real estate companies began to increase, albeit slight, but it is expected that if the company returned to work to build strong that it has a big role as it was before the year 2003," indicating that "the reasons for the decline of those security companies Basically, whenever the class has improved security, increased the activity of those companies, "adding" the presence of architectural projects with these companies stopped because of fear of armed operations or waived by the citizens. "

The shares rose 14 industrial companies rates shares of 13 companies, a light industry by 32.6%, the highest percentage increase in today's cartoon industry by 23.6% and ready-made clothes by 22.5% and the rate Mansour pharmaceutical Khazir 22.2% and construction 19% and modern tailoring a rate of 18.1% and Baghdad gas by 15.3%, metal and motorcycles by 15% and Ninawa food by 13% and engineering by 4% and beer by 3.7% in East and chemical industries by 2.8% and finally the coloring of modern by 1.5% and maintained a modern crafts in the same price the previous rate. industrial index closed down 13,279 b points, up by 4,132% from the previous meeting.

According to a member of the Federation of Iraqi intermediaries Mohamed Ismail said that "the industrial sector is expected to witness the expansion of his works during the coming period so as to provide news about the receipt of government support with the purchase of products and thus increase production and profits," thus contributing to the "investors to buy shares because they are very cheap at the moment "At the same time pointing out that such support" would not include all industrial firms but only some. "

The meeting also saw the circulation of shares of seven companies, hotel rates have risen gainers 4 companies namely the Palestine Hotel by 12% and the Sadeer Hotel, a 2.7% tourism and investments by 1.5% and finally the Babylon Hotel, by 0.2%, while the rates of the two stocks are the Baghdad Hotel by 6.6%, the highest a decrease of Karbala today and hotels by 2.3%, while hotel company has maintained the same rate of the UNESCO's previous price. b hotels index closed 54,464 points, up by 2,329% from the previous meeting.

Sector did not witness any decline in the index during the day and the investment sector has stabilized on the same rate at the previous meeting.

The four orders were carried out especially today carried out three of them on the world's fourth real estate company and the Bank of Dar es Salaam, and the total number of shares traded orders for 1.235 billion shares valued at more than 3,288 billion dinars.

Implementation of the 24 were also held for non-Iraqi Chamber of stock in banks and companies in the sectors of services, industry, hotels exceeded the number of shares have traded 189 million shares worth over 686 million dinars.

And hold the Iraqi market for securities (stock market) in the three trading sessions on Sunday, Tuesday and Thursday every week.

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