Iraq Stock Market Report

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Iraq Stock Market Report

Note: Due to the religious holiday of Eid Al-Adha, ISX will be closed beginning on June 16, 2024 (Sunday) and continuing through June 20, 2024 (Thursday). Sunday, June 23, 2024, will be the day of the next trading session.

Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 13th June 2024).

Please click here to view a table of listed companies and their associated ticker codes.

RSISX Index Change   
RSISX IndexClosingsChange (w/w) (%)Change (YTD) (%)
RSISX IQD Index1,798.42.3%15.7%
RSISX USD Index1,768.42.3%15.7%
ISX Market Summary of This Week
Trading Vol. (IQD mn)/d22,923.0# of Listed Companies on the ISX103
Trading Vol. ($ mn)/d17.4# of Traded Companies66
Traded Shares (mn)/d22,554    # of Companies (Up)21
Total Trades (#/d)2,768    # of Companies (Down)21
ISX Mcap (IQD bn)19,951    # of Companies (Not changed)24
ISX Mcap ($ mn)15,114# of Comp. Suspended from Trading (GA)5
Market FX Rate*/
CBI Auction Price (IQD/$)**
1320/ 1310# of Comp. Suspended from Trading (ISC)2

Selling the dollar to the ultimate beneficiary at a discount from banks and non-bank financial entities
**The CBI selling the dollar’s value to the banks
Top 5 Gainers – Weekly
Company NamesISX CodeClosing Price(IQD)Price Change (w/w)Price Chg. (YTD)
United BankBUND0.09012.5%12.5%
Al Taif Islamic BankBTIB0.75010.3%-11.8%
Elaf Islamic BankBELF0.44010.0%-20.0%
Iraqi for Carton Man. (UCM)IICM1.3809.5%32.7%
Ready Made ClothesIRMC3.6109.1%-19.2%
Top 5 Losers – Weekly
Company NamesISX CodeClosing Price(IQD)Price Change (w/w)Price Chg. (YTD)
Iraqi Middle East Investment BankBIME0.100-16.7%-16.7%
Dar Al-Salam for InsuranceNDSA0.750-10.7%7.1%
Sumer Commercial BankBSUC0.090-10.0%-30.8%
Modern SewingIMOS9.500-9.4%-2.6%
Al -Khazer for Construction M.IKHC2.100-6.7%31.3%
Top 5 Active by Weekly Trading Volume
Company NamesISX CodeTrading Vol. (IQDmn)/dTrading Vol. ($’000)/dShare in Total Trad. Vol.(%)
Al Mustashar Islamic Bank (NRM)BMUI16,970.212,856.274.0%
Bank of BaghdadBBOB1,852.21,403.28.1%
Al-Mansour BankBMNS972.0736.44.2%
Asiacell Communications PJSCTASC437.3331.31.9%
Economy BankBEFI384.8291.51.7%
Distribution of No. of Weekly Trades and Trading Vol. by Sectors
SectorNo.of Trades/wTrading Vol. (IQD mn)/wTrading Vol. (‘000 $)/wShare in Total Trading Vol. (%)
Banking1,39121,167.916,036.392.3%
Industry444806.5611.03.5%
Telecom288439.4332.91.9%
Agriculture235205.3155.50.9%
Hotels&Tourism224160.3121.50.7%
Services168139.4105.60.6%
Insurance123.93.00.0%
Investment60.30.20.0%
Grand Total2,76822,923.017,365.9100.0%

Week by week News from Iraq

Three cross exchanges happened on 17.0 bn portions of Al Mustashar Islamic Bank (BMUI) on Jun. 11, Jun. 12, and Jun. 13, esteemed at IQD17.0 bn and relating to 6.8% of BMUI’s capital.

Bank of Baghdad (BBOB) has been picked as the best confidential business bank in Iraq by Global Money for the year 2024.

The Kurdistan Regional Government and the International Development Bank (BIDB) entered into a partnership agreement to carry out the “My Account” project. A consultative cooperation agreement to implement the environmental and social governance project for joint-stock companies listed on the ISX in accordance with international standards was signed on Wednesday by the Iraqi Securities Commission (ISC), which was led by the Chairman of the Commission, and the International Finance Corporation (IFC), which was led by the Regional Director.

Due to the expiration of their semi-annual interest, the following bonds (Binaa Bond / 2nd issue / IQD1.0 mn (CB20)) will no longer be traded on the ISX starting on June 11, 2024.

At its headquarters in Baghdad, National Company for Tourism Investment (HNTI) invited shareholders to receive their cash dividends for the fiscal year 2022. In its most recent AGM, which took place on April 21, the business decided to pay IQD0.23 cash dividend per share, which amounts to a dividend yield of 2.1%.

Through a 150% rights issue, AL-Wiaam for Financial Investment (VWIF) invited shareholders to subscribe to 3.0 billion shares beginning June 11 as part of the capital increase to IQD5.0 billion. The subscription period must not be shorter than thirty days nor longer than sixty days.

National Chemical & Plastic Industries (INCP) was moved from the undisclosed capital market (UCM) to the regular market (RM) by the ISX on June 9, 2024, in accordance with the ISC decision of June 3.

Region Trade Bank (BRTB) has successfully completed the legal requirements for a 16.7% bonus issue to increase its capital to IQD350.0 billion.

Stocks that continued/will continue exchanging:

After holding its Annual General Meeting (AGM) on June 7, the original shares of Cihan Bank for Islamic & Finance (BCIH) resumed trading on June 12, when the company’s paid-in capital was increased by 16.4% through a rights issue from IQD305.0 billion to IQD355.0 billion.

After holding its AGM on June 8 and discussing and approving the 2023 annual financial statements, the original shares of National Islamic Bank (BNAI) resumed trading on June 13 and increased the paid-in capital from IQD301.0 bn to IQD351.0 bn through 11.63 percent rights issue and 4.98 percent bonus issue. The bank deferred the appointment of new board individuals.

After holding its annual general meeting (AGM) on June 7, Gulf Commercial Bank (BGUC) resumed trading on June 13. At the meeting, they discussed and approved the financial statements for the year 2023.

On June 23, the trading of new shares of Al Janoob Islamic Bank (BJAB) resulting from the capital increase of 104 percent through a rights issue for IQD510.0 billion will resume.

Stocks that were suspended/will suspended from exchange:

ISX will suspend exchanging of AHliya For Protection (NAHF) beginning Jun. 27 because of the AGM that will be hung on Jul. 2 to talk about and support 2022 yearly budget summaries, expanding the paid-in capital from IQD7.0 bn to IQD15.0 bn through 114.3% privileges issue, and choosing five unique and five elective board individuals

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