Stimulation

The Amman Stock Exchange (ASE) was still under the influence of last week's relative tranquillity before being invigorated half way through to close in the black. Consequently, 15.8 million shares worth JD34.3 million were traded, while the AMI and ASMI rose by 3.85% and 8.07%, respectively.

The banking sector dominated this week's trading activity, as the Cairo Amman Bank (CABK) stock was the best performer hiking 17% to close at JD6.72 with almost 0.116 million shares changing hands. Société Générale Jordanie (MEIB) also soared 8% before it landed at JD1.48, while Jordan National Bank (JONB) saw its new shares listed at the ASE after the bank completed the procedures of raising its capital to JD60 million through a private placement. At the same time 1.5 million of Philadelphia Investment Bank (PHIB)'s shares were exchanged as the stock slid 5% to JD0.55.

On the other hand, both Union Investment Corporation (UINV) and United Arab Investors (UAIC) were among the list of biggest movers as they gained 12% and 8% to position themselves at JD3.04 and JD3.48, respectively. Arab International Hotels (AIHO) had its new shares listed at Amman Stock Exchange (ASE) after it got the official approval to raise its capital by JD2.4 million to JD20 million through a private placement. AIHO settled at JD1.81, down 4%.

In the industrial sector, International Tobacco & Cigarettes (ITCC) managed to move up 3% to JD4.16. Moreover, National Steel Industry (NAST) climbed 5% to end today's session at JD2.25, while Jordan Steel (JOST) rose 1% to close at JD4.35. Conversely, Nutri Dar (NDAR) retracted 5% to end at JD1.61 with only 1,571 shares traded.

Meanwhile, First National Vegetable Oil (FNVO) rose by 9% to close at JD1.40 after the company signed a contract with a second party to manufacture 9,000 tons of palm oil.