Thursday, September 29, 2022

Baghdad

Iraq Stock Exchange volumes reduced 67% in July

 Iraq Stock Exchange volumes reduced 67% in July

Baghdad (IraqiNews.com) – A recent report from Rabee Securities showed that the Iraq Stock Exchange volumes reduced 67% in July 2022.

Iraq’s struggle to form a government four months after the parliamentary elections has challenged the Iraqi stock market.

“Eid Al Adha holidays with the current political deadlock, and protests in Iraq, it is no wonder we witness weak trading volumes, as investors wait to see the outcome of all this,” said Tugba Tan Karakay, analyst at Rabee Securities. “It may take a few more weeks to see which direction Iraq is heading.”

Figures show that 35.5% of volume trading was related to the banking sector, followed by the telecom sector at 18.7%, then the industry sector, representing 17.0% of the total trades.

“Despite this bleak picture, we have seen an increase in foreigners trading which represented 16.6% in July compared to previous month,” said Tan Karakay.