Iraqi Shares Out-Perform World Markets

By John Lee.

The Iraqi stock market, as measured by Rabee Securities ISX Index, has out-performed the main international markets over the past year, closing at IQD910.3 / $774.8 (-0.8%/-3.8% YTD change). (Please note: USD RSISX Index was updated for year-end closing with FX rate of 1525 (Dec. 29)).

This fall of 3.8 percent in dollar terms in 2022 compares favourably to the MSCI World Index (down 19.5 percent), the MSCI Emerging Market Index (down 22.4 percent) and the MSCI Frontier Market Index (down 26.3 percent). The tech-heavy NASDAQ was down 33 percent for the year.

Top 5 Gainers in 2022
Company Name ISX Code Closing Price Price Chg (YTD)
Mamoura Real-estate Inv. SMRI 9.450 287.3%
Mansour Hotel HMAN 37.000 252.4%
The Light and Mining Ind. (UCM) ITLI 0.850 174.2%
Iraqi Engineering Works IIEW 6.100 136.4%
Ishtar Hotels HISH 9.900 115.2%


Top 5 Losers in 2022
Company Name ISX Code Closing Price Price Chg (YTD)
Economy Bank (NR) BEFI 0.180 -65.9%
Ready Made Clothes IRMC 5.350 -58.7%
Sumer Commercial Bank BSUC 0.190 -50.0%
United Bank BUND 0.060 -45.5%
Gulf Insurance&Reinsurance NGIR 0.400 -40.3%


Top 5 Active by Trading Volume in 2022
Company Name ISX Code Trad.Vol. Share in T. Vol.
  IQD mn %
Asiacell Communications PJSC TASC 68,159.0 13.1%
International Islamic Bank (NR) BINT 58,083.1 11.1%
Iraq Noor Islamic Bank (NR) BINI 45,228.2 8.7%
Bank of Baghdad BBOB 31,665.6 6.1%
Al Mustashar Islamic Bank (NR) BMUI 30,267.1 5.8%

NR: Non-Regular Market.
UCM: Undisclosed Companies' Market

(Sources: Rabee Securites,

No comments yet.

Leave a Reply