Iraq Stock Market Report

By Editor on 10th May 2024 in Investment

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 9th May 2024).

ISX Market Summary of This Week
Trading Vol. (IQD mn)/d	10,254.6	# of Listed Companies on the ISX	103
Trading Vol. ($ mn)/d	7.8	# of Traded Companies	59
Traded Shares (mn)/d	5,383	# of Companies (Up)	28
Total Trades (#/d)	3,491	# of Companies (Down)	12
ISX Mcap (IQD bn)	19,638	# of Companies (Not changed)	19
ISX Mcap ($ mn)	14,877	# of Comp. Suspended from Trading (GA)	6
Market FX Rate/ CBI Auction Price (IQD/$)*	1320 / 1310	# of Comp. Suspended from Trading (ISC)	2

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Top 5 Gainers - Weekly
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Gulf Commercial Bank	BGUC	0.190	11.8%	5.6%
Baghdad for Packing Mat. (NRM)	IBPM	2.500	11.1%	-50.0%
Al-Ataa Islamic Bank (NRM)	BLAD	0.130	8.3%	0.0%
Economy Bank	BEFI	0.210	5.0%	-30.0%
AL-Nukhba for Construction	SNUC	0.700	4.5%	48.9%

Top 5 Losers - Weekly
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
International Islamic Bank (NRM)	BINT	0.300	-21.1%	-88.5%
Elaf Islamic Bank	BELF	0.470	-14.5%	-14.5%
United Bank	BUND	0.080	-11.1%	0.0%
Credit Bank of Iraq (NRM)	BROI	0.890	-10.1%	14.1%
Iraqi for Carton Man. (UCM)	IICM	1.030	-9.6%	-1.0%

Top 5 Active by Weekly Trading Volume
Company Names	ISX Code	Trading Vol. (IQDmn)/d	Trading Vol. ($'000)/d	Share in Total Trad. Vol.(%)
Al-Mansour Bank	BMNS	2,533.5	1,919.3	24.7%
Bank of Baghdad	BBOB	1,858.1	1,407.7	18.1%
National Bank of Iraq	BNOI	1,329.5	1,007.2	13.0%
Asiacell Communications PJSC	TASC	926.9	702.2	9.0%
Ashour Hotel (NRM)	HASH	905.8	686.2	8.8%

Distribution of No. of Weekly Trades and Trading Vol. by Sectors
Sector	No.of Trades/w	Trading Vol. (IQD mn)/w	Trading Vol. ('000 $)/w	Share in Total Trading Vol. (%)
Banking	2,282	6,582.3	4,986.6	64.2%
Hotels&Tourism	67	1,961.0	1,485.6	19.1%
Telecom	288	927.1	702.4	9.0%
Industry	493	523.7	396.7	5.1%
Agriculture	183	127.4	96.5	1.2%
Services	161	122.3	92.7	1.2%
Insurance	17	10.8	8.2	0.1%
Investment	0	0.0	0.0	0.0%
Grand Total	3,491	10,254.6	7,768.6	100.0%

Iraq Stock Exchange

Fitch Ratings has assigned Mansour Bank for Investment (BMNS) a Long-Term Issuer Default Rating (IDR) of 'B-' with a Stable Outlook and a Viability Rating of 'ccc+'. (FitchRatings)
The National Bank of Iraq (BNOI), part of the Capital Bank Group and 'My Account' project, has adopted Temenos for its core banking and payments operations. (Bas News)
Rehab Karbala (HKAR) has completed the legal procedures for the capital increase through a 6% rights issue to IQD7.95 bn.
The AGM of Iraqi Agricultural Products (AIRP) has been postponed to May 13 due to a lack of quorum.

Stocks that resumed / will resume trading:

Original shares of Credit Bank of Iraq (BROI) resumed trading on May 9 after holding its AGM on May 2 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD250.0 bn to IQD325.0 bn through a 22.8% rights issue and 7.2% bonus issue, and electing nine original and nine alternative board members.
Al Masherq Al-Arabi Islamic Bank (BAMS) will resume trading on May 12 after holding its AGM on May 5 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.056 cash dividend per share. The opening price will be IQD0.940 per share.

Stocks that were suspended / will be suspended from trading:

ISX suspended trading of Region Trade Bank (BRTB) starting May 5 due to the AGM that will be held on May 8 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD300.0 bn to IQD350.0 bn through 16.7% bonus issue.
ISX suspended trading of Iraqi Islamic Bank (BIIB) starting May 7 due to the AGM that will be held on May 11 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD250.0 bn to IQD325.0 bn through 30.0% bonus issue.
ISX will suspend trading of Al-Ameen Financial Investment (VAMF) starting May 23 due to the AGM that will be held on May 28 to discuss and approve 2023 annual financial statements.