September 26 2022 11:23 PM E-paper Subscribe Sign in My Account Sign out

ASE gains JD614 million since January

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Despite COVID-19 the Amman Stock Exchange opened 2021 on a high note. (Photo: Unsplash)
AMMAN — The shares of 179 companies listed on the Amman Stock Exchange (ASE) achieved gains totaling JD614 million between January 1 and Tuesday.
اضافة اعلان
The market value at the end of 2020 stood at JD12.907 billion, while ASE closed trading on Tuesday at JD13.52 billion. This increase is attributed to an increased demand of strategic shares, such as those of the Jordan Phosphate Mining Company (JPMC) and the Arab Potash Company (APC).

JPMC on Tuesday closed at an average price of JD8.26 per share, due the positive outlook of investors, pending the company's results for the first quarter of 2021 in light of international hikes on prices of raw materials and items, including fertilizers.

APC recently announced it would export the largest shipment of liquid potash in its history, standing at 90,000 tons. The company also reported profits of JD127 million after taxes and mining allocations were deducted. The company’s share price closed at an average of JD24 per share, marking an increase of 4.12 percent.

ASE on Tuesday witnessed an increase in trade volume, amounting to JD16.5 million through 10.1 million shares that were carried out by 3,557 contracts, where top traders included the Jordan Poultry Processing and Marketing Co Ltd, Bank al Etihad, and JPMC, among others.

The performance of the ASE index so far this year is considered better than last year, where the general index rose by 6.3 percent. The index on Tuesday closed at 1,761.4 points, up by 0.37 percent.

In 2020, the ASE, like other Arab and international stock markets, was affected by the repercussions of the COVID-19 pandemic, the closure of economic sectors, and precautionary measures implemented to curb the spread of the coronavirus, which pressured economies.