Following the recent events and protests in Iraq that caused major turbulence in the country, the Rabee Securities Iraq Stock Exchange (ISX) index took a turn and rose 3. 4% in September 2022.
Aysegul Ozgur, head of research at Rabee Securities, said: “As the political landscape in Iraq continues to deteriorate, we remain hopeful that trading volumes will continue to increase, as demonstrated last September. We were pleased to see that foreigners continued to invest in the Iraq Stock Exchange and that our monthly trading volumes are higher compared to August.
Total ISX transaction volume decreased 49% from August to $17. 1 million in September due to decreased cross-transactions. Excluding cross-transactions, monthly ISX transaction volumes increased 32. 8% compared to August, reaching $13. 1 million in September.
The figures show that the banking sector had the percentage of transaction volume, with 58. 3%, followed by the telecommunications sector (10. 9%), the commercial sector (8. 3%). The percentage of foreigners in the total volume of the industry increased from 4. 8% in August. to 8. 3% in September.
The percentage costs of 28 companies rose in September, of which 17 rose more than 5% and 11 rose more than 10%. Al-Khair for Financial Investment rose the most, up 77. 8% on the month.
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