Syrian stocks rose again last week as investors sought to offset the rapid decline in the value of the Syrian Pound relative to the dollar.
The Syrian stock exchange resumed last week its recent winning run with its main index rising 2.41 percent.
Syria’s stock exchange index fell below the 900 mark last week with trading volumes declining.
The rally in Syrian stocks continued last week with the securities market index crossing the 900 mark for the first time since November 2011.
Trading volumes remained strong last week in the Damascus Securities Exchange as the market’s index gained 3.33 percent.
Syria’s stock market index increased sharply this week to rise above the 800 mark for the first time since last November.
The stock market index fell slightly last week, while banking stocks continued to attract most traders.
United Group, Syria’s largest media group, saw a massive drop in revenues last year over the contraction of the advertising market.
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.