Jordan bourse trades lower amid investor lethargy
Shares continued their downward trend on Tuesday as most local investors remained on the sidelines in trade dominated by block deals, traders said.
The official 60-share benchmark Amman Stock Exchange (ASE) index shed a modest 0.26 percent to close at 134.10 points in turnover of around JD 876,430 ($1.2 million).
Block deals in three blue-chip shares, Arab Bank, Jordan Petroleum Refinery and Arab Jordan Investment Bank, accounted for the bulk of the volume.
Losers outnumbered gainers by 20 to 16 with 20 shares unchanged.
Arab Bank, which accounts for more than 40 percent of the total capitalization of the bourse, fell 0.05 per cent to close at JD 156.8.
Shares in refiner Jordan Petroleum Refinery fell 0.34 percent on profit taking to close at 11.61 in nearly 190,000 worth of deals.
Arab Jordan Investment Bank rose JD 0.05 to close at JD 1.50, with one transaction worth JD 72,000.
A government decision to lower acceptance grades for university entrants boosted activity in private university owner Zarqa Educational. It shed JD 0.04 to close at JD 1.11. — (Jordan Times)