Iraq Stock Market Report

By Editor on 6th September 2024 in Investment

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 5th Sept 2024).

ISX Market Summary of This Week
Trading Vol. (IQD mn)/d	19,115.8	# of Listed Companies on the ISX	103
Trading Vol. ($ mn)/d	14.5	# of Traded Companies	64
Traded Shares (mn)/d	16,692	# of Companies (Up)	11
Total Trades (#/d)	4,344	# of Companies (Down)	33
ISX Mcap (IQD bn)	19,592	# of Companies (Not changed)	20
ISX Mcap ($ mn)	14,842	# of Comp. Suspended from Trading (GA)	4
Market FX Rate/ CBI Auction Price (IQD/$)*	1320 / 1310	# of Comp. Suspended from Trading (ISC)	9

*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)
The Light and Mining Ind. (UCM)	ITLI	0.810	17.4%	15.7%
Iraqi for Carton Man. (UCM)	IICM	1.980	16.5%	90.4%
Iraqi Date Processing & Marketing	IIDP	2.940	15.3%	86.1%
Economy Bank	BEFI	0.240	14.3%	-20.0%
Iraqi Engineering Works	IIEW	4.000	14.3%	-33.2%

Top 5 Losers - Weekly
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Rehab Karbala Company	HKAR	0.500	-9.1%	-54.5%
Trans Iraq Bank for Invest. (NRM)	BTRI	0.520	-5.5%	-58.4%
Investment Bank of Iraq	BIBI	0.320	-3.0%	-25.6%
Nat. Chem. & Plastic Ind.	INCP	1.750	-2.8%	0.6%
Al-Ameen for Insurance	NAME	0.610	-1.6%	10.9%

Top 5 Active by Weekly Trading Volume
Company Names	ISX Code	Trading Vol. (IQDmn)/d	Trading Vol. ($'000)/d	Share in Total Trad. Vol.(%)
Bank of Baghdad	BBOB	4,932.6	3,736.8	25.8%
Al Mustashar Islamic Bank (NRM)	BMUI	3,362.4	2,547.2	17.6%
Al-Mansour Bank	BMNS	2,266.6	1,717.1	11.9%
International Islamic Bank (NRM)	BINT	2,228.9	1,688.6	11.7%
Asiacell Communications PJSC	TASC	1,624.1	1,230.3	8.5%

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	2,117	13,936.9	10,558.3	72.9%
Industry	1,141	2,603.5	1,972.3	13.6%
Telecom	496	1,624.1	1,230.3	8.5%
Agriculture	455	798.1	604.7	4.2%
Hotels&Tourism	71	83.0	62.9	0.4%
Services	51	68.1	51.6	0.4%
Insurance	10	2.0	1.5	0.0%
Investment	3	0.0	0.0	0.0%
Grand Total	4,344	19,115.8	14,481.7	100.0%

Iraq Stock Exchange

A cross transaction occurred on 3.0 bn shares of International Islamic Bank (BINT) on Sep. 1, valued at IQD999.9 mn and corresponding to 1.2% of BINT's capital.
A cross transaction occurred on 1.3 bn shares of Bank of Baghdad (BBOB) on Sep. 2, valued at IQD3.8 bn and corresponding to 0.3% of BBOB's capital.
A cross transaction occurred on 3.4 bn shares of Al Mustashar Islamic Bank (BMUI) on Sep. 4, valued at IQD3.4 bn and corresponding to 1.3% of BMUI's capital.
Iraqi For Tufted Carpets (IITC) invited its shareholders to receive their cash dividends for FY23 at its headquarters in Baghdad-Al-Dawoudy, Al-Hamra, starting Sep. 1. The company decided in its recent AGM (Jul. 14) to distribute IQD0.8 cash dividend per share, corresponding to a 5.3% dividend yield.
According to the ISC decision on Aug. 21, the ISX transferred Gulf Insurance and Reinsurance (NGIR) and Al-Sadeer Hotel (HSAD) from the Undisclosed Companies Market (UCM) to the Regular Market (RM) starting Sep. 1, 2024.
Ahliya For Insurance (NAHF) invited its shareholders to subscribe to 8.0 bn shares starting Sep. 4 from the capital increase to IQD15.0 bn through 114.3% rights issue. The subscription period is no less than 30 days and no more than 60 days.
The ISC approved the request of Iraqi Carton Manufacturies (IICM) for an additional extension period of 1 year to submit its 2023 annual financial statements.

Stocks that resumed / will resume trading:

Al-Khatem Telecoms (TZNI) resumed trading on Sep. 5 due to disclosing its FY23 financial results.

Stocks that were suspended / will be suspended from trading:

ISX suspended trading of Dar Al-Salam for Insurance (NDSA) starting Sep. 3 due to the AGM that will be held on Sep. 8 to discuss and approve 2023 annual financial statements and dividend distribution.
ISX suspended trading of the following companies starting Sep. 4 in accordance with an ISC decision due to not disclosing their 2023 annual financial statements: BKUI, BUND, INCP, and TZNI (BZII has already been suspended). The following companies will continue to trade in the Undisclosed Capital Market (UCM): AMAP, ITLI, IMCM, IELI, SBAG, SIGT, SBAG, VBAT, BBAY, and HPAL (BNOR and VKHF are already suspended).
ISX suspended trading of Al-Ataa Islamic Bank (BLAD) starting Sep. 5 due to the AGM that will be held on Sep. 10 to discuss and approve 2023 annual financial statements and dividend distribution.
ISX will suspend trading of Al-Ameen Estate Investment (SAEI) starting Sep. 26 due to the AGM that will be held on Oct. 1 to discuss and approve 2023 annual financial statements, the activation of investments for the company and Al Hamra Real Estate Investment Company, and electing five original and five alternative board members.
ISX will suspend trading of The Light Industries (ITLI) starting Oct. 7 due to the AGM that will be held on Oct. 10 to discuss and approve 2017 & 2018 annual financial statements, the removal of mining activity from the commercial register, and electing four original and four alternative board members.