ISX benchmark falls 1.21%, trading activity down

Investors monitor stock information on an electronic board at the Iraq Stock Exchange in Baghdad October 31, 2011. Foreign investors’ appetite for Iraq’s stock market is rising before planned IPOs by the country’s three mobile telephone operators, but the fledgling market’s small size means it may struggle to cope with the listings. Picture taken October 31, 2011. To match Analysis IRAQ-TELECOMS/ REUTERS/Mohammed Ameen (IRAQ – Tags: BUSINESS TELECOMS) – RTR2TIRN

Baghdad ( The Iraq Stock Exchange (ISX) closed Sunday’s trading on a negative note as its benchmark index shrank 1.21% or 6.81 points to the level of 558.16 points.

Trading volume decreased to 1.14 billion shares from 27.99 billion shares exchanged on Thursday, turnover also declined to IQD 813.37 million from IQD 12.12 billion.

National Bank of Iraq topped losers after falling 10%, followed by Modern Animal and Agricultural Production (-9.30%) and Ishtar Hotels (-5.56%).

North Bank for Finance and Investment and Investment Bank of Iraq also retreated by 4.55% and 4.44% respectively.

On the flipside, United Bank for Investment topped gainers with an increase of 4.35%, followed by National Metallic Industries and Bicycles (4.17%), Iraqi Carton Manufacturers (3.85%), Al Mamora for Real Estate Investments (2.56%) and Electronic Industries (2.08%).

Bank of Baghdad was the most active stock in terms of trading volume with 367.13 million shares, while Kurdistan International Bank for Development and Investment made the highest turnover of IQD 250 million.

The main gauge fell on Thursday by 1.59%% or 9.1 points to the level of 564.98 points.

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