UAE: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) considerably increased by 16.3% in August mainly due to the increase in share prices of National Bank of Iraq (+41.5%), Bank of Baghdad (+33.5%), Commercial Bank of Iraq (+31.6%), and Kharkh Tour Amuzement City (+22.3%). During August, the share prices of 6 out of the 10 RSISX Index companies showed growth.

The total trading volume of the ISX increased 31% in August compared to July to USD29.9 million. Excluding the cross transactions, monthly trading volume showed a 151.9% growth compared to the previous month to USD28.4 mn in August.

The banking sector reported the highest share in trading volume at 62.8% in August, followed by the agriculture sector (11.7% share), industry sector (11.6% share), telecom sector (9.2% share), and hotels & tourism sector (2.6% share).

Three companies decided to distribute dividends during August; Baghdad Soft Drinks with a dividend yield of 6.2%, Kharkh Tour Amuzement City with a dividend yield of 3.0%, and Mamoura Real-estate with a dividend yield of 0.4%.

37 companies’ share prices grew in July, 24 of which increased by more than 5.0%, while 16 increased by more than 10.0%. Investment Bank of Iraq witnessed the largest increase in share prices by 69.0% during the month, followed by Economy Bank with a 60.0% monthly increase.