ASE trading exceeds JD20 million

AMMAN — following a 10-percent rise in the Amman Stock Exchange (ASE) index last week, Sunday’s session saw profit-taking operations on the majority of stocks, particularly on blue-chip shares, pushing them from their highest limits to their lowest.اضافة اعلان

What was striking about Sunday’s session was the resistance of some blue-chip shares and demand for them, particularly the Arab Bank, which achieved a 25-percent rise last week and resisted profit-taking transactions on Sunday to still close in green, at a price level of JD5.14 per share; up by 0.54 percent and with total trading value of JD4 million.

In light of this, total trading value for Sunday reached JD20.1 million, with 14.6 million shares traded through 6,607 transactions.

As time went by, and after an hour of trading, shares, particularly blue-chip ones, seemed to be able to weather profit taking transactions, mitigating the losses of the index, which at times reached 1.7 percent, with the session closing at 2,050 points, marking a drop of 0.92 percent and maintaining the above 2,000 points level achieved last week for the first time in two years.

The profit taking transactions conducted on Sunday coincided with the end of the month, during which stock investors usually settle their debts to brokerage firms, which was also an impacting factor.

Sunday’s ASE declined is deemed natural and healthy, as it constitutes rectifying transactions following the big leaps achieved both last week, and over the past few weeks, and building a foundation for a new phase with the entry of investors to these new trading levels, particularly since the countdown for the second quarter of the year is about to begin, and investors are anticipating the results of these companies, which might meet or oppose their expectations, based upon which they would switch financial focuses.

The shares of 107 companies were traded, where the share prices of 40 companies rose, and the share prices of 43 declined.

At the sector level, the financial index decreased by 0.92 percent, the industrial index decreased by 0.86 percent, and the services index decreased by 0.64 percent.

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