Iraq Stock Exchange’s (ISX) trading volume in May dropped 30% compared to the previous month to US$46.7 million. The banking sector had the highest share in trading volume with 81.2%, followed by the telecoms sector with a 6.2% share.
Ayşegül Özge Özgür, SVP, Head of Research at Rabee Securities, said:
“The month witnessed a high volume of cross transactions in the banking sector. Foreigners’ share in total trading volume decreased from 4.0% in April to 3.5% in May”.
She added: “In May, Rabee Securities RSISX Index decreased by 5.7%, mainly due to the dividend distribution of Asiacell, a major component of the RSISX Index, and Eid Al Fitr holidays. The index is still up 2.0% for the year”.
Two companies decided to distribute profits during May; Asiacell (dividend yield: 11.8%) and Mamoura Real Estate Investment (dividend yield: 2.0%).
Seventeen companies’ share prices went up in May, of which 11 of them increased more than 5%; Ashour Hotel shares jumped +30.0% during the month.
Source: SAHARA Communications