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Jordanian stocks rise by 0.27% WoW, snapping a 6-week losing streak
- The ASE General Index advanced by 5.8 points last week ending a six-week losing streak despite a 25.5% WoW decrease in average daily trading values. Blue-chips Al-Eqbal Investment Company (EICO, +3.1%), The Housing Bank (THBK, +1.35%), & Cairo Amman Bank (CABK, +5.7%) pushed the index higher while banking heavyweight Arab Bank (ARBK) weighed on the index partly offsetting broader market gains after declining by 1.3% WoW as news that the settlement between the ARBK and Americans who accused the bank of facilitating militant attacks in Israel may hit a snag surfaced during the week.
- On the sectoral front, all sector indices closed the week in green except for the banking (-0.24%) & insurance (-0.37%) sectors with the diversified financial services sector recording the biggest gain of 1.44% WTD.
- Jordanians were net buyers while Arab & foreign investors were net sellers.
- Institutions were net buyers while Retail investors were net sellers.
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