ASE index slide as volumes remain depressed during Ramadan; banks weigh
- The ASE General Index lost 15 points last week amidst lower volumes which dropped by more than 10% WoW to around JD 6.4 million per day. Falling share prices of a number of heavyweight banks weighed on the market including Arab Bank (ARBK, -1.5%), Bank of Jordan (BOJX, -0.72%), and Jordan Islamic Bank (JOIB, -2.28%). Industrial blue-chips Arab Potash (APOT) and Al-Eqbal Investment Company (EICO) also contributed to broader market losses after declining by 0.48% and 1.3% respectively for the week.
- On the sectoral front, all sector indices closed the week in red except for the insurance (+0.2%) and services (+0.04%) sectors with the diversified financial services sector recording the biggest loss of 2.34% WTD.
- Jordanians and foreigners were net sellers while Arabs were net buyers.
- Institutions were net buyers while Retail investors were net sellers.
Click here for full details.
