Rabee’s Iraq Stock Exchange index increased by 7.1% in November
The Iraq stock market witnessed a healthy growth during November's trading
Iraq Stock Exchange Index Rabee Securities (RSISX Index) witnessed a significant 7.1% increase in both USD and Iraqi Dinar terms (IQD) largely due to the increase in share prices of Bank of Baghdad, Iraqi for Seed Production, Commercial Bank of Iraq and Asiacell. During November, the share prices of 7 out of the 10 RSISX Index companies recorded an increase.
In the first eleven months of 2023, the RSISX Index showed a notable 60.7% growth in IQD terms while RSISX Index showed a higher growth in USD terms at 85.7% with the contribution of around 10% appreciation of the local currency against USD in February 2023 with CBI decision to achieve price stability.
The total trading volume of the ISX increased 256% in November compared to October to USD70.5 million. Excluding the cross transactions, monthly trading volume showed a 10% growth compared to the previous month to USD19.0 mn in November. The banking sector obtained the highest share in trading volume at 83.0% in October, followed by the agriculture sector (4.4% share), industry sector (3.9% share), insurance sector (3.7% share), and hotels & tourism sector (2.0% share).
In November, Sumer Commercial Bank announced its dividend distribution decision; accordingly, the bank will pay IQD0.010 per share, corresponding to a yield of 8.3% for investors.
About 37 companies’ share prices grew in November, 24 of which increased by more than 5.0%, while 15 increased by more than 10.0%. Baghdad for Packing Materials witnessed the largest increase in share prices by 170.8% during the month, followed by Al-Ameen Estate Investment with a 139.3% monthly increase.