Following recent events and protests in Iraq that have caused massive turbulence country-wide, the Rabee Securities Iraq Stock Exchange (ISX) Index - took a turn and increased by 3.4% in September 2022.
According to Aysegul Ozgur, the Head of Research Department at Rabee Securities, “As the political situation continues to dwindle in Iraq, we remain steadfast in hope that trading volumes will continue to increase, as demonstrated this past September. We were delighted to see that foreigners’ have continued to invest in the Iraq Stock Exchange, and that our monthly trading volumes increased from August.”
Total trading volume of the ISX decreased by 49% compared to August, down to USD 17.1 million in September, as a result of a decrease in cross transactions. Excluding cross transactions, monthly trading volumes of the ISX increased 32.8% compared to August, up to USD 13.1 million in September.
Figures show that the banking sector had the highest share in trading volume, at 58.3%, followed by the telecom sector (10.9%), industry sector (8.3%),. Foreigners’ shares, in total trading volume, increased from 4.8% in August to 8.3% in September.
28 companies’ share prices increased in September, of which 17 increased by more than 5%, and 11 increased by more than 10%. Al-Khair for Financial Investment increased the most, at +77.8% during the month.