The Rabee Securities Iraq Stock Exchange Index (RSISX Index) increased 4.4% in June mainly due to the increase in share prices of National Bank of Iraq (+13.6%), Al-Mansour Bank (+12.1%), Baghdad Soft Drinks (+11.2%), Al-Mansour Hotel (+10.7%) and Bank of Baghdad (+3.3%). The share price of 8 out of 10 RSISX Index companies increased during June.

The total trading volume of the ISX decreased 3% in June compared to May to USD24.6 million due to the decrease in cross-transactions that occurred during the month. Although the number of trading sessions of June was lower than May due to the Eid Al Adha holidays, monthly trading volume excluding the cross transactions showed a 78.3% increase compared to the previous month to USD20.6 mn in June.

The banking sector reported the highest share in trading volume at 46.5% in June, followed by the industry sector (28.7% share), telecom sector (12.8% share), hotels & tourism sector (4.1% share), and services sector (3.4% share).

Four companies decided to distribute dividends during June; Credit Bank of Iraq with a dividend yield of 31.6% (the highest dividend yield announced by the ISX-Listed Companies in recent years), Asiacell with a dividend yield of 12.3%, Iraqi for Tufted Carpets with a dividend yield of 4.4%, and Baghdad Hotel with a dividend yield of 4.3%.

33 companies’ share prices grew in June, 21 of which increased by more than 5.0%, while 18 increased by more than 10.0%. Credit Bank of Iraq witnessed the largest increase in share prices by +42.3% during the month, followed by Babylon Bank with a 33.3% monthly increase.