The ASE slides back into red; Banks weigh
- Jordanian stocks lost 8 points last week amid slightly higher volumes as falling share prices of leading banks including Arab Bank (ARBK, -0.83%), The Housing Bank (THBK, -0.48%), and Jordan Islamic Bank (JOIB, -0.93%) dragged the market lower. Heavyweight Al-Eqbal Investment Company (EICO) helped partly offset broader market losses after advancing by 2.5% for the week. The ASE General Index closed the week at 2156.4 points, down by 0.39% WoW.
- On the sectoral front, all sector indices closed the week in red except for the industrial sector (+0.59%) with the diversified financial services sector recording the biggest loss of 0.92% WTD.
- Jordanians & Arabs were net buyers while foreigners were net sellers.
- Institutions were net buyers while Retail investors were net sellers.
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