Healthy Day

Despite the fact that many investors had extended their weeklong holiday, the Amman Stock Exchange (ASE) witnessed healthy trading as the market participants available on site continued to build positions. All in all 8.4 million shares, valued at JD16.5 million, changed hands pushing the AMI up 1.5% to 220.76.

The highlight of the day was the relisting of Resources for Qualified Industrial Zones (JOMA). The company had a little more than 5 million shares exchanged in total, including two block deals transacted between board members which involved 4.9 million of the total shares traded. JOMA closed at 1.43.

The Arab Bank shot all the way up to JD334 today before settling back at JD330, a rise of 2%. The Industrial Development Bank (INDV) witnessed renewed investor interest as it climbed 3% to JD1.90 with approximately 0.28 million shares changing hands.

In spite of thin trading, Dar Al Dawa (DADI) managed to climb 2%, breaking the JD6.00 barrier, as it closed at JD6.05.

Middle East Complex for Engineering Electronics and Heavy Industries (MECE) and Jordanian Electric Power (JOEP) both witnessed daily volumes of more than 0.3 million shares. MECE remained unchanged at JD1.86 while JOEP advanced 3% to JD3.58.

Meanwhile, Jordan ranked fourth among twelve countries in the Middle East and North Africa (MENA) region, which are featured in the Money Matters Institutes' Wealth of Nations Triangle Index. The index utilizes 63 variables to measure the sustainable development potential in seventy emerging economies. Jordan, which ranked in the 24th place, overall, was superseded by Israel, Bahrain and Kuwait from the MENA group.