New rise in the market value of private sector companies

5/28/2016 0:00

With the decline in stock index this week

BAGHDAD - Mostafa Hashemi

at a time when the economic academic Dr. Majid Baidhani stressed the importance of activating the role of national savings in the structure and increase the rate through indirect investment securities so as to contribute to double the GDP of the country, a weekly report of the Stock Exchange showed a rise new to the market value of listed companies in it. business sector , adding Baidhani in an interview with «morning» that activate the work of the ASE and the cooperation of the private sector companies listed on the Iraq Stock Exchange by speeding disclose contribute significantly to increase the size of the business sector and thus would be an attraction the rest of the companies to list its shares in the stock market and the trading of its shares. He pointed out that the current stage requires the diversification of financial resources of the country by increasing the companies ' ability to output excellent quality and configured for export in order to achieve moderate in the trade balance of the country and the reduction of imports, also contribute to reducing its dependence on oil as a resource unilateral public budget for Iraq .

Baidhani that saw such a move would be in coordination with all the departments and the relevant authorities to limit the import of what can be produced locally listed companies factories especially as the number of these companies confirmed its ability to output and compete with imported subject to controls that will make their contribution in the active economy as reflected in the share price and performance in the stock market. market value to that showed the stock market report upwards in the market value of the shares of listed companies in the market, reaching 7 trillion and 456 billion dinars , compared to 7 trillion and 322 billion dinars for the previous week despite a decline in the market index rising (0.92 percent) for the closed last week at (524.50) points. the report, seen by the «morning» rising number of shares traded in the securities of the Iraqi market for this week , stocks rose (1531.48 percent) compared to last week. shares traded , the report added that the total value of shares traded for the same period increased by (394.84 percent) , compared to per week ending twenty - sixth of this month.

He said: the number of stalled companies has become the trading result of the lack of commitment to provide annual disclosure and quarterly Authority and the market (13) company, while the total number of remittance companies stalled from trading after the approval of the change of activity and until the issuance of license to practice from the central bank issuance (3) companies. and the number of shares traded for the week , stocks, the report said that it amounted to 114 billion shares , compared with (7.032) billion shares last week. the value of shares traded this week , 21 billion dinars , compared to 4.331 billion dinars last week.

The number executed for this week 's deals (2634) deal in return (2408) deals last week 's number of shares traded during which (92.917) billion shares worth (13.295) billion dinars. external investors and the number of purchased shares from investors Giralaracaan for this week (3.486) billion shares, valued at (2.035) billion dinars through the implementation of 197 transactions on the shares of 13 companies. while the total number of shares sold by non - Iraqi investors this week (756) million shares valued at 627 million dinars through the implementation of (286) transactions on the shares of 15 companies.