Iraq Stock Market Report

07/06/2024

Iraq Stock Trade (ISX) market report (exchanging week finishing: June 6, 2024).

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

RSISX Index Change
RSISX Index	Closings	Change (w/w) (%)	Change (YTD) (%)
RSISX IQD Index	1,757.4	-1.2%	13.1%
RSISX USD Index	1,728.0	-1.2%	13.1%

ISX Market Summary of This Week
Trading Vol. (IQD mn)/d	6,066.7	# of Listed Companies on the ISX	103
Trading Vol. ($ mn)/d	4.6	# of Traded Companies	65
Traded Shares (mn)/d	5,697	# of Companies (Up)	29
Total Trades (#/d)	3,532	# of Companies (Down)	15
ISX Mcap (IQD bn)	19,746	# of Companies (Not changed)	21
ISX Mcap ($ mn)	14,959	# of Comp. Suspended from Trading (GA)	8
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 Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Iraqi for Carton Man. (UCM)	IICM	1.260	14.5%	21.2%
Iraqi Middle East Investment Bank	BIME	0.120	9.1%	0.0%
Al-Hilal Industries (UCM)	IHLI	1.090	9.0%	21.1%
The Light and Mining Ind. (UCM)	ITLI	0.750	8.7%	7.1%
Al-Ameen for Insurance	NAME	0.650	8.3%	18.2%

Top 5 Losers – Weekly
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Gulf Commercial Bank	BGUC	0.340	-17.1%	88.9%
Elaf Islamic Bank	BELF	0.400	-14.9%	-27.3%
Babylon Bank (UCM)	BBAY	0.070	-12.5%	-12.5%
Modern Construction Mat. (UCM)	IMCM	0.530	-11.7%	-10.2%
International Islamic Bank (NRM)	BINT	0.350	-10.3%	-86.5%

Top 5 Active by Weekly Trading Volume
Company Names	ISX Code	Trading Vol. (IQDmn)/d	Trading Vol. ($’000)/d	Share in Total Trad. Vol.(%)
Asiacell Communications PJSC	TASC	1,172.2	888.0	19.3%
Bank of Baghdad	BBOB	818.3	619.9	13.5%
Al-Mansour Bank	BMNS	704.1	533.4	11.6%
National Bank of Iraq	BNOI	441.0	334.1	7.3%
Ishtar Hotels	HISH	440.3	333.6	7.3%

Distribution of No. of Weekly Trades and Trading Vol. by Sectors
Sector	No.of Trades/w	Trading Vol. (IQD mn)/w	Trading Vol. (‘000 $)/w	Share in Total Trading Vol. (%)
Banking	1,977	3,092.1	2,342.5	51.0%
Telecom	597	1,172.2	888.0	19.3%
Industry	452	729.5	552.7	12.0%
Hotels&Tourism	214	680.3	515.4	11.2%
Services	128	259.4	196.5	4.3%
Agriculture	148	130.4	98.8	2.1%
Insurance	9	2.7	2.0	0.0%
Investment	7	0.1	0.1	0.0%
Grand Total	3,532	6,066.7	4,595.9	100.0%

On May 30, Iraq Stock Exchange Asiacell (TASC) and Baghdad Soft Drinks (IBSD) announced that their audited financial results for 2023 would be delayed. The postponement happened due to new guidelines gave by the Leading body of Observing and Examining Calling. Both businesses stated that they will not be able to submit audited financial results for 2023 until they locate an eligible auditor who satisfies the necessary requirements.

The National Bank of Iraq (BNOI) said on Thursday that it does not deal with businesses that the Central Bank of Iraq (CBI) has blocked from entering the window for buying and selling foreign currency. The bank said this is in line with international standards to stop money laundering. Shafaq News) Starting on June 9, 2024, the ISX will move National Chemical & Plastic Industries (INCP) from the undisclosed capital market (UCM) to the regular market (RM), in accordance with the decision made by the ISC on June 3.

Stocks that continued/will continue exchanging:

Al Janoob Islamic Bank (BJAB) continued exchanging on Jun. 6 subsequent to holding its AGM on Jun. 1 in which they examined and supported 2023 yearly budget reports and chose to convey IQD0.061 cash profit per share, relating to a 6.1% profit yield.

Stocks whose trading has been suspended or will be suspended:

Due to the AGM that will be held on June 4 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD300.0 bn to IQD400.0 bn through a rights issue of 33.3%, ISX suspended BIDB trading on June 4.

Gulf Commercial Bank (BGUC) trading was suspended by ISX on June 4 due to the AGM on June 7 to discuss and approve the 2023 annual financial statements.

Due to the AGM that will be held on June 8 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD301.0 bn to IQD351.0 bn through rights and bonus issue and electing new board members, ISX suspended trading in National Islamic Bank (BNAI) beginning on June 4.

Due to the AGM that will be held on June 7 to discuss and approve increasing the paid-in capital from IQD305.0 bn to IQD355.0 bn through 16.4% rights issue, ISX suspended Cihan Bank for Islamic & Finance (BCIH) trading beginning on June 4.

Due to the AGM that will be held on June 11 to discuss and approve the resignation of the chartered accountant and the appointment of an auditor for the year 2023, ISX suspended trading of Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) on June 6.

Due to the AGM that will be held on June 30 to discuss and approve electing five original and five alternative board members if the general assembly approves reducing the number of board members from seven to five, ISX will suspend trading of Gulf Insurance and Reinsurance (NGIR) beginning June 24.

Region Trade Bank (BRTB) trading will be suspended by ISX on July 1 due to the AGM on July 4 to discuss and approve the election of seven original and seven alternative board members.