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October 24 2021 5:51 AM ˚

ASE sees financial-center building operations, rises by 0.24%

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(Amman Stock Exchange)
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AMMAN — Despite a 0.24-percent rise in the Amman Stock Exchange’s (ASE) general index during Wednesday’s session, which closed at 2,053.7, the financial position building session was calm in terms of margin rises in the price of blue-chip stocks, with the exception of the Jordan Phosphates Mines Company.اضافة اعلان

The phosphate company’s shares rose by 2.33 percent, closing at JD14.5 per share. Meanwhile, the stock price of the Arab Potash Company dropped by 1.35 percent, closing at JD26.5, and the Jordan Petroleum Refinery Company remained stable at JD3.42 per share.

The shares of the banking sector did not see any major leaps, with some declining and some registering limited increases. However, they are being traded at a market value below their book value, amid apprehension that followed a hike accompanied by improvement in investor morale.

At the sector level, the industrial index increased by 0.57 percent, the services index increased by 0.26 percent, and the financial index rose by 0.15 percent.

Trading value levels remain better than those of last year, as trading value for Wednesday reached JD11 million, with 7.2 million shares traded through 5,137 transactions.

Investors’ optimism is attributed to government measures to gradually reopen economic sectors, which reflected positively on the index, considering the closures and other restrictions throughout last year as a result of the pandemic. The high vaccination turnout also contributed to a rise in investors’ morale.

Within that context, and in regard to macroeconomic indicators, domestic revenues increased by the end of April by around JD652.2 million, constituting a 34.1-percent rise, compared to the same period last year, to reach JD2.566 billion.

General financial data for the first third of 2021 showed considerable improvement in domestic revenues, which is attributed to an improvement in tax collection and efforts to combat tax evasion, without raising tax burdens on citizens. This contributed to improved financial stability, and led to growth exceeding expectations.

Data issued by the Finance Ministry showed a rise in general revenues during the first third of the current year, amounting to 30.5 percent, compared to the same period last year, and reaching JD2.635 billion.

The shares of 116 companies were traded on Wednesday, with the share prices of 48 companies rising, and the share prices of 32 companies declining.

Read more Analysis.
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