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Rabee's Iraq Stock Exchange Index increased by 8.8% in January

Friday, February 9, 2024/ Editor -  

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February 9, 2024: In January, the Rabee Securities Iraq Stock Exchange Index (RSISX Index) experienced a significant 8.8% surge in both USD and Iraqi Dinar (IQD) terms mainly due to the increase in share prices of Fallujah for Construction Materials, National Bank of Iraq, Al-Mansour Bank and Commercial Bank of Iraq. In January, the share prices of 9 out of the 10 RSISX Index companies recorded an increase. Mrs. Tugba Tan Karakaya, an Analyst at the Research Department of Rabee Securities, commented, “We witnessed a good start to the year, and investors are satisfied that the momentum is continuing from last year's positive index performance. Despite some geopolitical incidents during the month, the economic and companies' performance overshadowed such concerns.”

The total trading volume of the ISX decreased 29% in January 2024 compared to December 2023 to USD44.5 million. Excluding the cross transactions, monthly trading volume showed a 13% growth compared to the previous month to USD30.2 mn in January. The banking sector obtained the highest share in trading volume at 75.2%, followed by the industry sector (14.7% share), telecom sector (5.0% share), and services sector (2.8% share).

In January, Iraqi Agricultural Products Marketing Meat announced its dividend distribution decision; accordingly, the company will pay IQD0.08 cash dividend per share, corresponding to a yield of 1.0% for investors.

41 companies’ share prices grew in January, 30 of which increased by more than 5.0%, while 20 increased by more than 10.0%. Modern Animal & Agricultural Production increased the most going up 63.2% during the month, followed by Ashour Hotel with a 61.8% monthly increase.
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