Iraq Stock Exchange reports strong trading and performance in August 2023 and YTD

Shafaq News / The Iraq Stock Exchange unveiled on Thursday that trading activity surged to nearly 500 billion shares, amounting to a total valuation of 444 billion dinars. This significant trading volume encompasses registered Iraqi joint-stock companies and spans from the onset of the current year through the conclusion of August.

As per a report published today by the stock exchange, during the course of August 2023, the Iraq Stock Exchange facilitated 23 trading sessions dedicated to the shares of 103 listed Iraqi joint-stock companies.

Within the current month, the aggregate count of trading days achieved 23 sessions. On an annual basis, spanning until August 31, this figure escalated to 159 sessions, signifying a robust 67% of the projected trading days for the entire year of 2023. This equivalency aligns with official working days.

In line with this trading vigor, a substantial transaction of 67 billion shares transpired. Aggregate trading for the year until August 31 amounted to 475 billion shares, showcasing a substantial 84% of the total shares exchanged throughout the entirety of 2022.

Moreover, the cumulative traded shares represented a total value of 444 billion dinars. For the year up until the conclusion of August, this cumulative value stood at 371 billion dinars, reflecting a noteworthy 85% of its total value for the year 2022.

Concurrently, the ISX60 traded stock price index exhibited a robust standing at the conclusion of 809.8 points.

In comparative terms, juxtaposing with the conclusion of the year 2022, the index demonstrated a substantial growth trajectory. By the end of August 2023, the index closed with an impressive 38% increase.

Moreover, as compared to the conclusion of July 2023, the index exhibited a pronounced rise of 13% during the month of August.

This financial landscape saw notable developments beyond trading figures. The Central Bank of Iraq (CBI) issued Resolution No. 9/2/439 on August 2, 2023, mandating banks to progressively augment their current capital to 400 billion IQD in phased stages. This regulatory adjustment will culminate by the close of December 31, 2024.

Furthermore, the disclosure landscape saw engagement from corporate entities. A total of 70 joint-stock companies have submitted their comprehensive 2022 annual disclosures. These insights are now accessible on the official website, providing stakeholders with transparent financial perspectives.

The regulatory domain also observed activity. The Securities Commission issued Regulatory Framework for Licensing Brokerage Companies No. 20 of 2023, reflecting a commitment to a structured financial environment.