Baghdad, Iraq, May 09, 2023, 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.
Rabee Securities is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Original Source of the original story >> Rabee Iraq Stock Exchange Index Increased 12.5% in April
