Amman: Amman Stock Exchange (ASE) recorded positive performance during the week of July 19-23, driven by increased trading values ??and an improved general index.
According to Jordan News Agency, the industrial sector led market activity, reflecting continued investor interest in industrial stocks despite a mixed performance by other sectors.
ASE data showed the average daily trading volume rose to about JD14.7 million, compared to JD12.6 million the previous week, marking a growth rate of 16.6 percent. The total trading value spiked to JD73.4 million, up from JD62.9 million in the previous week, with approximately 21.9 million shares traded over 21,910 transactions.
The industrial sector captured the lion's share of the trading value, at about JD27.3 million, accounting for 37.2 percent of the total. It was followed by the financial sector, at approximately JD25.5 million, making up 34.7 percent, and the services sector at JD20.7 million, accounting for 28.1 percent. The general share price index rose by 0.32 percent, closing at 3932.4 points, compared to 3920 points the previous week.
The increase was spurred by the strong performance of the industrial sector, which recorded a growth of 2.65 percent, alongside a 0.75 percent rise in the financial sector. However, a 2.22 percent decline in the services sector tempered the market's gains.
Trading indicators suggest a relatively robust market, with share prices of 50 out of 125 companies rising, while 45 saw declines. The remaining shares remained flat, reflecting continued selectivity in investor decisions and a focus on companies with strong operational performance and promising investment opportunities.
National Steel Industries emerged as the week's biggest gainer, surging 18.95 percent, followed by the Jordanian for Developing and Financial Investment (JDFI) at 16.36 percent. Al Shamkha Real Estate and Financial Investments, and Enjaz for Development and Multi-Projects each rose by 10.53 percent, while Arab Investment Projects increased by 8.51 percent.
In contrast, Jordan Insurance led the list of biggest losers, dropping 9.26 percent, followed by National Aluminum Industries at 6.67 percent. Coordinates Real Estate saw a 6.25 percent decline, Jordan Housing for Land Development and Industrial Projects fell by 5.71 percent, and Jordan Petroleum Refinery (JOPETROL) decreased by 5.40 percent.
The rising trading volumes and upward trend of the general index reflect improved market activity. However, the mixed performance of sectors and stocks indicates that investors remain selective, focusing on companies and sectors with better growth and profitability opportunities.