Stocks continued their winning streak this week in the Damascus Securities Exchange with the second consecutive weekly gain for the market’s main index.
Stocks in the Damascus Securities Exchange gained last week as the continued decline of the Syrian Pound is driving investors further away from cash holdings.
Bank of Syria and Overseas has announced a theft at one of its branches, one of many similar events that have recently occurred at Syrian banks.
The DWX fell 0.78 percent last week with banking stocks continuing to dominate the market.
Banque Bemo Saudi Fransi has announced that it has been the victim of a new hold-up.
Al-Ahliah Vegetable Oil has announced that Tamman Nadim Alloush had joined its board of directors.
The volumes exchanged last week in the Damascus Securities Exchange increased to SYP 35 million over trading in financial stocks.
An unusually large number of listed companies were traded in the Damascus bourse last week as the market index resumed its decline.
The Damascus stock market index posted two successive gains on Tuesday and Wednesday to close the week on a positive note.
After two weeks of gains the stock market index resumed its decline as none of the traded stocks gained in the week’s three sessions.
Two financial firms held together more than half of the brokerage market share in the stock exchange last year as the volume of trading fell 82 percent on an annual basis, according to data published by the DSE.