Iraq Stock Exchange
Image Credit: Supplied

Iraq Stock Exchange’s trading volume in April surged by 58% compared to the previous month to $66.7 million. The banking sector had the highest share in trading volume with 78.0%, followed by the telecom sector with an 8.4% share.

Twenty companies’ share prices went up in April, with Ishtar Hotels climbing +41.9% during the month, followed by Tourist Village of Mosul Dam +28.7%.

Three companies decided to distribute profits during April; Baghdad Soft Drinks Co (yield: 5.3%), Trust International Islamic Bank (yield: 2.9%), and Baghdad Hotel (yield: 3.2%).

In April, Rabee Securities ISX Index and USD RSISX Index decreased by 7.0% (March: +6.9%, +8.2% year to date as of the end of April).

Foreigners’ share in total trading volume increased from 3.7% in March to 4.0% in April. Rabee Securities expects to see an increase in demand on the ISX as the oil price remains high, and the real GDP of Iraq will grow to the 6th highest in the world in 2022, according to IMF.