ISX loses 29 points, trades ID1.8b worth of shares this week

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) lost 29 points during this week’s trading sessions, tantamount to 10.6% of its benchmark index that closed at 283 points amidst a seesaw sentiment and zero trading over a large number of the stock market bulls. The ISX had closed at 283 points last week, registering losses by 18 points. Sunday’s (May 21) e-trading session saw the sellout of 65 million shares at a value of 98 million Iraqi dinars (ID) in 53 transactions over three joint-stock firms out of a total five registered at the ISX. The three firms are Ashur International Bank (AIB), al-Mansour Bank and the Commercial Bank of Iraq (CBIQ), in addition to al-Mansour Hotel and Ashtar Hotel. Two manual sessions saw more than 707 million shares exchanging hands at ID1.862 billion in 434 deals. The industrial sector came in the lead with 76% of the traded shares, followed by the hotel sector with 36%. The Iraqi Stock Exchange, established under Law No. 74 of the year 2004, held its first session on June 24, 2004. The stock market holds three sessions a week: Sunday, Tuesday, and Thursday. The ISX holds three sessions on a weekly basis: one electronic session over five joint-stock companies on Sundays and two manual trading sessions over 86 registered companies out of a total 91 on Tuesdays and Thursdays. AmR (S) 1