ISX opens week with 0.7% down

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) opened the week on Sunday with 0.7% down in its overall index to close at 128.2 points as rates of shares of 21 out of a total 43 traded companies went into the red. The ISX had closed at 129.2 points after retreating by 0.05% during the previous session. “More than 986 million shares worth 1.950 billion Iraqi dinars (roughly $1.7 million) exchanged hands during today’s session through 566 deals,” according to an ISX news bulletin received by IraqiNews.com news agency. Rates of shares of 12 companies went up while 10 retained their previous levels. Non-Iraqi investors obtained 75 purchase deals worth 557 million dinars, mostly over the banking sector, 29% of the overall trading activities, and two sale deals worth 4.3 million dinars over the industrial sector. The banking sector took the lead with 59% through 214 deals worth 1.160 billion dinars over 14 firms, followed by the service sector with 25% through 214 deals worth 501 million dinars over six firms and the industrial sector with 11% through 116 deals worth 226 million dinars over 12 firms. Trading was modest over the hotel, agricultural, insurance and investment sectors. The ISX witnessed its first E-trading session on April 19, 2009 over five registered companies, three banks and two hotels. The banks were: Ashur International Bank (AIB), Al-Mansour Bank and the Iraqi Credit Bank while the hotels were: Ashtar Hotel and Al-Mansour Hotel. On June 7, 2009 the Iraqi Middle East Investment Bank and the Warka Bank joined the electronic trading sessions. The ISX now holds five sessions from Sunday to Thursday. AmR (TS) 312