New Arrivals

The Amman Stock Exchange (ASE) enjoyed healthy volumes this week as the extra liquidity that was pumped into the market pushed indicators upwards. As a result more than 29 million shares, valued at JD62.5 million were exchanged as the AMI and ASE Index both advanced by more than 3%.

With many of its stock in demand, the banking sector continued to be the leader of the exchange's growth. Investors' enthusiasm was directed towards Bank of Jordan (BOJX) and Jordan Kuwait Bank (JOKB) as both stocks rose by almost 5%. BOJX settled at JD4.33, while JOKB ended the week at JD10.45 with 2.3 million shares traded. Meanwhile, the International Bank for Trade & Finance (IBTF), the third private bank to begin operations in Syria, opened in Damascus on Tuesday. The Housing Bank for Trade & Finance (THBK) is the main founder of IBTF as it contributed 49% of the new firm's LS1.5 billion capital. Consequently, THBK managed to climb 12% to JD4.35.

Middle East Complex (MECE), still riding on the last few weeks' momentum, managed to rank first in terms of trading volume. Thus, the stock advanced 4% to settle at JD1.71. Similarly, the 0.92 million Jordan Steel (JOST) shares that traded managed to push the stock's price up 9% to JD4.27. Conversely, International Silica Industries (SLCA) dropped 9% to JD0.98 amongst thin trading, while Al-Janoub Filters Manufacturing (AJFM) saw 0.3 million of its shares change hands, which helped the stock reach JD0.88. Despite small volumes, International for Optical & Hearing Aid (INOH) was able to secure its position as the week's biggest mover with a 25% hike to JD0.76.

Jordan Trade Facilities (JOTF) had 0.78 million of its shares exchanged as it moved up to JD0.90, an increase of 8%, while Al-Ekbal Printing & Packaging climbed all the way to JD1.57 before it closed at JD1.53.