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Banks push ASE higher
- The ASE General Index gained around 23 points, or 1.1%, last week amid higher volumes driven by rising share prices of leading banks including Bank of Jordan (BOJX, +8.5%), Jordan Islamic Bank (JOIB, +4.68%), Jordan Kuwait Bank (JOKB, 1.1%), and The Housing Bank for Trade & Finance (THBK, +0.48%). Industrial heavyweight Al-Eqbal Investment Company (EICO) also contributed to broader market gains after advancing by 5.88% for the week.
- On the sectoral front, all sector indices closed the week in red except for the banking (+1.54%), services (+0.10%), and industrial sectors (+2.06%) with the diversified financial services sector recording the biggest loss of 2.03% WTD. Jordanians were net sellers while foreigners & Arabs were net buyers.
- Institutions were net buyers while Retail investors were net sellers.
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