Rabee Iraq Stock Exchange Index increase 12.5 per cent in April

Owing largely due to the surge in share prices of Bank of Baghdad by +41.2 per cent

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Published: Wed 10 May 2023, 5:23 PM

The Rabee Securities Iraq Stock Exchange Index (RSISX Index) increased 12.5 per cent in April owing mainly to the increase in share prices of Bank of Baghdad (+41.2 per cent - the largest weight in the index) and Baghdad Soft Drinks (+10.5 per cent). These were partially offset by a decrease in share prices of Al-Mansour Hotel (-14.6 per cent Al-Mansour Bank (-8.2 per cent) and the Iraqi for Seed Production (-2.5 per cent). Increases in share prices of the National Bank of Iraq (+3.1 per cent) and Asiacell (+1.7 per cent) contributed to the increase in the index, as well. Share prices of 6 out of 10 RSISX Index companies increased during April.

The total trading volume of the ISX increased significantly by 330 per cent in April as compared to March 2023, surging to $37.1 million due to five cross-transactions that occurred during the month. Excluding the cross transactions, monthly trading volumes showed a 19.5 per cent increase, as well.

The banking sector reported the highest share in trading volume at 79.0 per cent in April, followed by the industry sector (15.2 per cent share), telecom sector (3.0 per cent share), services sector (1.4 per cent share), and agriculture sector (0.9% share).

In April, Al-Mansour Bank announced its dividend distribution decision; accordingly, the bank will pay IQD0.04 per share, corresponding to a yield of 7.0 per cent for investors. 21 companies’ share prices grew in April, 10 of which increased by more than 5.0 per cent, while six increased by more than 10.0 per cent. The Bank of Baghdad witnessed the largest surge in share prices by +41.2 per cent during the month, followed by Al Taif Islamic Bank with a 20.0 per cent monthly increase.

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