Owing largely due to the surge in share prices of Bank of Baghdad by +41.2%
The Rabee Securities Iraq Stock Exchange Index (RSISX Index) increased 12.5% in April owing mainly to the increase in share prices of Bank of Baghdad (+41.2% – the largest weight in the index) and Baghdad Soft Drinks (+10.5%). These were partially offset by a decrease in share prices of Al-Mansour Hotel (-14.6%), Al-Mansour Bank (-8.2%) and the Iraqi for Seed Production (-2.5%). Increases in share prices of the National Bank of Iraq (+3.1%) and Asiacell (+1.7%) contributed to the increase in the index, as well. Share prices of 6 out of 10 RSISX Index companies increased during April.
The total trading volume of the ISX increased significantly by 330% in April as compared to March 2023, surging to USD 37.1 million due to 5 cross-transactions that occurred during the month. Excluding the cross transactions, monthly trading volumes showed a 19.5% increase, as well.
The banking sector reported the highest share in trading volume at 79.0% in April, followed by the industry sector (15.2% share), telecom sector (3.0% share), services sector (1.4% share), and agriculture sector (0.9% share).
In April, Al-Mansour Bank announced its dividend distribution decision; accordingly, the bank will pay IQD0.04 per share, corresponding to a yield of 7.0% for investors.
21 companies’ share prices grew in April, 10 of which increased by more than 5.0%, while 6 increased by more than 10.0%. The Bank of Baghdad witnessed the largest surge in share prices by +41.2% during the month, followed by Al Taif Islamic Bank with a 20.0% monthly increase.
For additional information and business inquiries, please contact: https://www.rs.iq/
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No FUNDS MANAGEMENT journalist was involved in the writing and production of this article.