Latest news with #RSISX
Khaleej Times
06-08-2025
- Business
- Khaleej Times
Rabee Securities Iraq Stock Exchange Index posts 1.3% growth in July
The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 1.3 per cent in July, outperforming regional peers including Saudi Arabia (-2.2 per cent), Bahrain (+0.6 per cent), and Kuwait (+1.2 per cent). Key drivers of growth included Al-Mansour Bank, National Bank of Iraq, Commercial Islamic Bank of Iraq, and Asiacell. The RSISX Total Return Index (RSISXTR) recorded a 2.4 per cent gain in July, supported by dividend activity led by Baghdad Soft Drinks (IQD 0.36 per share, 7.5 per cent yield). Other dividend contributors during the month included Dar Al-Salam for Insurance (7.7 per cent), Al Janoob Islamic Bank (3.1 per cent), and Mamoura Real Estate Investment (0.9 per cent). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'Market momentum remained resilient in July, driven by solid banking and telecom sector performance. Dividend yields continue to reflect healthy corporate fundamentals, while macroeconomic reforms and infrastructure commitments are enhancing long-term investor sentiment.' Trading volume on the Iraq Stock Exchange (ISX) surged 45 per cent month-on-month, reaching $25.3 million. The banking sector led activity with a 66.6 per cent share, followed by industry (14.9 per cent), telecom (11.1 per cent), agriculture (3.1 per cent), services (2.9 per cent), and hotels & tourism (1.3 per cent). Meanwhile, OTC market trading fell 86 per cent to $37.4K. A total of 27 companies recorded price increases in July, with 13 rising more than 5 per cent and 10 exceeding 10 per cent. Notable performers included Kurdistan International Islamic Bank (+52.2 per cent) and Al-Ataa Islamic Bank (+50.0 per cent). July also brought several key macroeconomic developments. The IMF completed its 2025 Article IV consultation, forecasting 3.1 per cent GDP growth and 2.9 per cent inflation, while urging fiscal reform and diversification. Iraq ranked third in the Arab world for bank card issuance, reflecting rapid digital payment growth. Additionally, the World Bank approved a $930 million rail modernisation project, and Iraq formally adopted the TIR transit system, positioning itself as a regional trade hub.
Khaleej Times
06-07-2025
- Business
- Khaleej Times
Iraq's capital markets show resilience amid regional headwinds
The Rabee Securities Iraq Stock Exchange Index fell 1.1 per cent during the first half of 2025, reflecting regional tensions and dividend-related adjustments. However, the index outperformed Saudi Arabia's TASI (-7.2 per cent) and Bahrain's BHBX (2.1 per cent), while trailing Kuwait's BKP (+17.2 per cent), Dubai's DFMGI (+10.6 per cent), and Egypt's EGX30 (+10.5 per cent). Half of the RSISX Index companies distributed dividends in the first half, exerting downward pressure on share prices. Bank of Baghdad had the largest impact, offering a dividend yield of 13.4 per cent. Asiacell followed with 11.5 per cent, alongside Iraqi for Seed Production (8.9 per cent), National Bank of Iraq (4.9 per cent), and Mansour Hotel (0.4 per cent). Share price increases in Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank helped partially offset the broader decline. The RSISX Total Return Index, which reflects performance excluding the impact of dividend payouts and capital increases, rose 5.9 per cent during the same period—underlining the underlying strength of market fundamentals. Aysegul Ozge Ozgur, SVP, Head of Research at the Research Department of Rabee Securities, commented: 'The first half of the year demonstrated the market's depth and resilience. While headline figures reflected dividend effects, the core investor story remains positive - anchored by high yields, improving corporate governance, and a maturing institutional framework. We continue to see compelling value in sectors that are adapting well to reform momentum'. Beyond index constituents, five non-index companies also distributed dividends during the period. Kurdistan International Bank recorded the highest yield at 25.0 per cent, followed by International Development Bank (12.5 per cent), Al-Khatem Telecoms (5.7 per cent), Iraqi Agricultural Products (0.7 per cent), and Babil Animal & Vegetable Production (0.4 per cent). Total trading volume on the Iraq Stock Exchange fell 38 per cent year-on-year to $150.9 million in the first half. When excluding cross-transactions, the decline moderated to 23 per cent, with adjusted volume at $117.7 million. The banking sector dominated trading activity with a 70.1 per cent share, followed by industry (12.4 per cent), telecom (9.4 per cent), agriculture (3.6 per cent), services (2.4 per cent), and hotels and tourism (2.1 per cent). Meanwhile, the over-the-counter (OTC) market, which became active in September 2024 and now includes 11 quoted companies, recorded $749,500 in total trading volume during the half. In total, 22 listed companies recorded share price gains in the first half, with 14 rising more than 10 per cent. Al-Ahlyia for Agricultural Production led with a 120.0 per cent increase, followed by Al-Ameen for Insurance (41.3 per cent) and Kurdistan Islamic Bank (35.3 per cent). Macroeconomic indicators throughout the first half of 2025 supported long-term market optimism. Iraq launched its National Development Plan (2024–2028) and signed bilateral trade and infrastructure agreements with the UK. In parallel, banking reforms and accelerated digital payment adoption gained momentum. Strategic partnerships were finalized with BP for a $25 billion oilfield development project and Vodafone for the rollout of a 5G telecom operator. In April, Iraq joined the Tabadul digital trading platform and implemented ESG disclosure requirements for listed companies. The Arab League Summit, hosted in Baghdad in May, coincided with the launch of Iraq's first National Financial Inclusion Strategy and an $848 million investment deal in oil and petrochemicals. In June, the World Bank approved $930 million for a nationwide railway modernization initiative, while the IMF projected Iraq's 2025 GDP growth at 4.1 per cent - among the highest forecasts in the region.
Zawya
04-07-2025
- Business
- Zawya
Iraq Capital Markets show resilience amid regional headwinds as total return index climbs 5.9%
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) declined by 1.1% during the first half of 2025 (1H25), reflecting regional tensions and dividend-related adjustments. However, the index outperformed Saudi Arabia's TASI (-7.2%) and Bahrain's BHBX (2.1%), while trailing Kuwait's BKP (+17.2%), Dubai's DFMGI (+10.6%), and Egypt's EGX30 (+10.5%). Half of the RSISX Index companies distributed dividends in 1H25, exerting downward pressure on share prices. Bank of Baghdad had the largest impact, offering a dividend yield of 13.4%. Asiacell followed with 11.5%, alongside Iraqi for Seed Production (8.9%), National Bank of Iraq (4.9%), and Mansour Hotel (0.4%). Share price increases in Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank helped partially offset the broader decline. The RSISX Total Return Index (RSISXTR), which reflects performance excluding the impact of dividend payouts and capital increases, rose 5.9% during the same period—underlining the underlying strength of market fundamentals. Aysegul Ozge Ozgur, SVP, Head of Research at the Research Department of Rabee Securities, commented: "The first half of the year demonstrated the market's depth and resilience. While headline figures reflected dividend effects, the core investor story remains positive - anchored by high yields, improving corporate governance, and a maturing institutional framework. We continue to see compelling value in sectors that are adapting well to reform momentum". Beyond index constituents, five non-index companies also distributed dividends during the period. Kurdistan International Bank recorded the highest yield at 25.0%, followed by International Development Bank (12.5%), Al-Khatem Telecoms (5.7%), Iraqi Agricultural Products (0.7%), and Babil Animal & Vegetable Production (0.4%). Total trading volume on the Iraq Stock Exchange (ISX) fell 38% year-on-year to USD 150.9 million in 1H25. When excluding cross-transactions, the decline moderated to 23%, with adjusted volume at USD 117.7 million. The banking sector dominated trading activity with a 70.1% share, followed by industry (12.4%), telecom (9.4%), agriculture (3.6%), services (2.4%), and hotels and tourism (2.1%). Meanwhile, the over-the-counter (OTC) market, which became active in September 2024 and now includes 11 quoted companies, recorded USD 749.5K in total trading volume during the half. In total, 22 listed companies recorded share price gains in 1H25, with 14 rising more than 10%. Al-Ahlyia for Agricultural Production led with a 120.0% increase, followed by Al-Ameen for Insurance (41.3%) and Kurdistan Islamic Bank (35.3%). Macroeconomic indicators throughout the first half of 2025 supported long-term market optimism. Iraq launched its National Development Plan (2024–2028) and signed bilateral trade and infrastructure agreements with the UK. In parallel, banking reforms and accelerated digital payment adoption gained momentum. Strategic partnerships were finalized with BP for a $25 billion oilfield development project and Vodafone for the rollout of a 5G telecom operator. In April, Iraq joined the Tabadul digital trading platform and implemented ESG disclosure requirements for listed companies. The Arab League Summit, hosted in Baghdad in May, coincided with the launch of Iraq's first National Financial Inclusion Strategy and an $848 million investment deal in oil and petrochemicals. In June, the World Bank approved $930 million for a nationwide railway modernization initiative, while the IMF projected Iraq's 2025 GDP growth at 4.1% - among the highest forecasts in the region. As regulatory alignment continues and capital markets deepen, Rabee Securities remains committed to delivering insight, transparency, and institutional-grade access to Iraq's evolving investment landscape.
Khaleej Times
04-06-2025
- Business
- Khaleej Times
Rabee Securities Iraq Stock Exchange Index posts 0.7% growth in May
The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 0.7 per cent in May, supported by gains in Asiacell, Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank. Meanwhile, the RSISX Total Return Index (RSISXTR) outperformed, rising 6.4 per cent, driven by strong dividend activity. Key contributors included Bank of Baghdad (IQD0.65 per share, 14.5 per cent yield), Asiacell (IQD1.50 per share, 11.5 per cent yield), and Al-Mansour Hotel (IQD0.17 per share, 0.4 per cent yield). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'The market's performance this month reinforces investor confidence in core sectors like banking and telecom. Despite softer trading volumes, we are seeing healthy signals in dividend yields and price movements. As Iraq advances on reforms and financial inclusion, the medium-term fundamentals remain promising.' Total trading volume on the Iraq Stock Exchange (ISX) declined 21 per cent month-on-month to $21.8 million. Excluding cross-transactions, the volume stood at $18.2 million, a 24 per cent drop. The banking sector remained dominant, accounting for 60.1 per cent of trades, followed by telecom (19.8 per cent), industry (13.1 per cent), services (3.2 per cent), agriculture (2.1 per cent), and hotels & tourism (1.6 per cent). Trading activity in the OTC market also dipped 10 per cent to $88.5K. In May, 27 companies recorded share price increases. Of these, 13 rose more than 5 per cent, and 9 gained over 10 per cent. Al-Ahlyia for Agricultural Production led the market with a 67.4 per cent surge, followed by Al-Hilal Industries, up 42.5 per cent. On the macroeconomic front, Iraq welcomed several key developments during the month. The IMF, during its May 4–13 visit, called for urgent reforms including fiscal consolidation, restructuring of state-owned banks, and private sector expansion. The 34th Ordinary Arab League Summit was held in Baghdad on May 17, hosting delegations from 20 Arab countries. Meanwhile, the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy (2025–2029), aiming to expand secure access to financial services nationwide. Additionally, Iraq signed a strategic deal with a consortium led by China-based Geo-Jade Petroleum and Basra Crescent. The agreement targets a fivefold increase in output from the Tuba oil field rising from 20,000 to 100,000 barrels per day—and includes investment in downstream infrastructure totaling $848 million.
Zawya
04-06-2025
- Business
- Zawya
Rabee Securities Iraq Stock Exchange Index posts 0.7% growth in May
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 0.7% in May, supported by gains in Asiacell, Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank. Meanwhile, the RSISX Total Return Index (RSISXTR) outperformed, rising 6.4%, driven by strong dividend activity. Key contributors included Bank of Baghdad (IQD0.65 per share, 14.5% yield), Asiacell (IQD1.50 per share, 11.5% yield), and Al-Mansour Hotel (IQD0.17 per share, 0.4% yield). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'The market's performance this month reinforces investor confidence in core sectors like banking and telecom. Despite softer trading volumes, we are seeing healthy signals in dividend yields and price movements. As Iraq advances on reforms and financial inclusion, the medium-term fundamentals remain promising'. Total trading volume on the Iraq Stock Exchange (ISX) declined 21% month-on-month to USD 21.8 million. Excluding cross-transactions, the volume stood at USD 18.2 million, a 24% drop. The banking sector remained dominant, accounting for 60.1% of trades, followed by telecom (19.8%), industry (13.1%), services (3.2%), agriculture (2.1%), and hotels & tourism (1.6%). Trading activity in the OTC market also dipped 10% to USD 88.5K. In May, 27 companies recorded share price increases. Of these, 13 rose more than 5%, and 9 gained over 10%. Al-Ahlyia for Agricultural Production led the market with a 67.4% surge, followed by Al-Hilal Industries, up 42.5%. On the macroeconomic front, Iraq welcomed several key developments during the month. The IMF, during its May 4–13 visit, called for urgent reforms including fiscal consolidation, restructuring of state-owned banks, and private sector expansion. The 34th Ordinary Arab League Summit was held in Baghdad on May 17, hosting delegations from 20 Arab countries. Meanwhile, the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy (2025–2029), aiming to expand secure access to financial services nationwide. Additionally, Iraq signed a strategic deal with a consortium led by China-based Geo-Jade Petroleum and Basra Crescent. The agreement targets a fivefold increase in output from the Tuba oil field rising from 20,000 to 100,000 barrels per day and includes investment in downstream infrastructure totaling $848 million.
