Iraqi stock market continues to grow in Q1 – News

Published: Thu 5 May 2022, 10:25

The Iraqi Stock Exchange (ISX) continued to grow in the first quarter of 2022 reaching $11.3 billion Mcap, up 8% from the end of 2021. The banking sector represents 45.9% of the total map with 43 banks listed, followed by 41.5 percent for the telecommunications sector with two mobile operators, the industry sector at 7.3 percent with 20 companies and various sectors occupying the rest of the share.

Ayşegül Özge Özgür, SVP, Head of Research, said: “The banking sector again played a major role in trade in the first quarter of 2022 and constituted 70% of total trade shares doubling to 78.7 million. of dollars. We anticipate an increase in demand. on the ISX as the price of oil remains high, Iraq’s real GDP will increase to 6th in the world in 2022 according to the IMF and the long-awaited formation of the government will be completed.

The Rabee Securities ISX Index, the RSISX Index, which is accepted as a market benchmark, was up 15.5% in 1Q22, while the USD RSISX Index was up 16.2%. ISX trading volume increased 95% year-on-year to $112.9 million in 1Q22. ISX has five sessions per week from 10:00 a.m. to 1:00 p.m. (pre-session: 09:30 a.m. – 10:00 a.m., trading hours: 10:00 a.m. – 1:00 p.m., cross order time: 01:00 a.m. to 1:30 p.m.).

In 2021, 15 ISX-listed companies decided to distribute dividends with yields between 0.01% and 12.5% ​​and with an average yield of 4.2%, while in 1Q22 three companies announced a decision to distribute dividends with yields between 2.9% and 5.2%. hundred. We expect to have dividend distribution decisions from other companies in the coming months.

About Tammy N. McFarlane

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