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Iraqi companies record an increase in market value during 2023 and expectations of the entry of “foreign portfolios”
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2024-01-05 04:28
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Shafaq News/ The Future Iraq Foundation for Economic Studies and Consultations monitored an increase in the market value of companies listed on the Iraqi Stock Exchange by 20% during the past year to reach 18.66 trillion Iraqi dinars, higher than what it recorded at the end of 2022, which amounted to 15.56 trillion Iraqi dinars.
According to the institution’s statistics, the banking sector, which represents 50% of the total market value of listed companies, rose by 19.4% to reach 9.23 trillion dinars after it was at the end of 2022 with a value of 7,734, and this increase came as a result of the rise in the market value of the banks of Baghdad, the Iraqi National Bank, Al-Mansour Bank, and the Credit Bank. Its market value increased by more than 100% during this year.
At the level of the telecommunications sector, which represents 38% of the total market value of companies, it increased by 22.7% as a result of the increase in the market value of “Zain Iraq” by 25.8% and “Asiacell” by 18%.
In the industrial sector, which represents 5.6% of the total market value of listed companies, it rose by 13.8%, making the sector exceed the trillion dinars barrier for the first time, after it was at the end of 2022 around 915 billion dinars. This increase came as a result of the rise in “Pepsi Baghdad” company, which represents 76% of The total market value of industrial sector companies increased by 17.6%, but the market value of many industrial companies decreased, such as “Fallujah” for construction materials, and the Modern Construction Materials Company, whose value decreased by 41%, which affected the total market value of the sector.
While the hotels and tourism sector, which represents 3.36% of the total market value of listed companies, recorded an increase of 11.6%, bringing the market value of the sector’s companies to 627 billion dinars, after it was at the end of 2022 at a value of 562 billion dinars. This increase came as a result of a rise in the shares of Babel Hotels. Which represents 32% of the total companies in the sector, and whose market value increased by 7.5%, in addition to the increase in the market value of the “Palestine” Hotel, which represents 14% of the total market value of companies in the sector, which increased by 37.5%.
It is expected that companies listed on the market will witness an increase in 2024, especially the banking, industry, services and agriculture sectors. It is possible that the market value of the entire market in 2024 will exceed the 22 trillion dinars barrier, especially with the percentages of profits achieved by companies listed on the market, specifically in the banking sector, which is expected to increase. It will dominate the market more over the next year through the merger of a group of banks and also the demand to buy bank shares, most of which are below the fair value of the share.
It is expected that new companies will be listed that could contribute to increasing the demand for shares and thus increasing the market value of the market, as it provides an attractive investment environment that derives its strength from the strength of corporate profits, the high share price, weak competition in the market, in addition to the entry of new foreign portfolios into the market that contribute to increasing the market value of companies. included.
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2024-01-05 04:28
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Shafaq News/ The Future Iraq Foundation for Economic Studies and Consultations monitored an increase in the market value of companies listed on the Iraqi Stock Exchange by 20% during the past year to reach 18.66 trillion Iraqi dinars, higher than what it recorded at the end of 2022, which amounted to 15.56 trillion Iraqi dinars.
According to the institution’s statistics, the banking sector, which represents 50% of the total market value of listed companies, rose by 19.4% to reach 9.23 trillion dinars after it was at the end of 2022 with a value of 7,734, and this increase came as a result of the rise in the market value of the banks of Baghdad, the Iraqi National Bank, Al-Mansour Bank, and the Credit Bank. Its market value increased by more than 100% during this year.
At the level of the telecommunications sector, which represents 38% of the total market value of companies, it increased by 22.7% as a result of the increase in the market value of “Zain Iraq” by 25.8% and “Asiacell” by 18%.
In the industrial sector, which represents 5.6% of the total market value of listed companies, it rose by 13.8%, making the sector exceed the trillion dinars barrier for the first time, after it was at the end of 2022 around 915 billion dinars. This increase came as a result of the rise in “Pepsi Baghdad” company, which represents 76% of The total market value of industrial sector companies increased by 17.6%, but the market value of many industrial companies decreased, such as “Fallujah” for construction materials, and the Modern Construction Materials Company, whose value decreased by 41%, which affected the total market value of the sector.
While the hotels and tourism sector, which represents 3.36% of the total market value of listed companies, recorded an increase of 11.6%, bringing the market value of the sector’s companies to 627 billion dinars, after it was at the end of 2022 at a value of 562 billion dinars. This increase came as a result of a rise in the shares of Babel Hotels. Which represents 32% of the total companies in the sector, and whose market value increased by 7.5%, in addition to the increase in the market value of the “Palestine” Hotel, which represents 14% of the total market value of companies in the sector, which increased by 37.5%.
It is expected that companies listed on the market will witness an increase in 2024, especially the banking, industry, services and agriculture sectors. It is possible that the market value of the entire market in 2024 will exceed the 22 trillion dinars barrier, especially with the percentages of profits achieved by companies listed on the market, specifically in the banking sector, which is expected to increase. It will dominate the market more over the next year through the merger of a group of banks and also the demand to buy bank shares, most of which are below the fair value of the share.
It is expected that new companies will be listed that could contribute to increasing the demand for shares and thus increasing the market value of the market, as it provides an attractive investment environment that derives its strength from the strength of corporate profits, the high share price, weak competition in the market, in addition to the entry of new foreign portfolios into the market that contribute to increasing the market value of companies. included.
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