Rabee’s Iraq Stock Exchange Index increased significantly by 9.2% in July

Mohamed Tantawi: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) saw a notable 9.2% surge in July, primarily driven by the rise in share prices of several key companies. Iraqi for Seed Production recorded an impressive increase of 26.9%, while Bank of Baghdad, National Bank of Iraq, and Baghdad Soft Drinks also experienced gains of 8.8%, 8.0%, and 4.7%, respectively, with these companies having a weight of over 10% in the index.

The positive performance of Commercial Bank of Iraq (up 14.0%) and Asiacell (up 5.8%) also contributed to the overall increase in the RSISX Index. During July, the share prices of 9 out of the 10 RSISX Index companies showed growth.

The total trading volume of the ISX decreased by 7% in July compared to June, amounting to USD 22.8 million.

Within the ISX, the banking sector accounted for the highest share in trading volume at 61.2% in July, thanks in part to cross transactions. The industry sector followed with a share of 17.7%, while the agriculture, telecom, and services sectors held shares of 12.8%, 4.4%, and 2.8%, respectively.

In July, share prices of 32 companies experienced growth, with 23 of them increasing by more than 5.0%, and 10 seeing growth of more than 10.0%. Credit Bank of Iraq witnessed the most significant surge in share prices, soaring by +43.2% during the month, followed closely by Al-Mansour Bank with a 35.4% monthly increase.