The bourse maintained its recovery in 2001, rising 0.42 percent on Monday, January 8, to hit a 21-week high on locally driven demand, dealers said. The official 60-share benchmark Amman Stock Exchange (ASE) index weighed by market capitalization rose 0.58 points to close at 137.66 points in turnover of JD1.1 million ($1.5 million).
Dealers said local funds were buying into the market on a positive outlook for 2000 results of some blue-chips. The ASE index gained 2 percent last week and rose 1 percent on Sunday.
Monday's close was the highest since Aug. 14, 2000, when the ASE index ended at 138.06 points.
The market was again led by market heavyweight Arab Bank, which rose JD1 to close at JD163.5 in turnover of JD225,000, the day's largest transaction.
Dealers said local funds were seeing the bank as a good buy after its plunge late last year to below the 150 point barrier.
The share comprises over 40 per cent of the bourse's total capitalization and so its price fluctuations heavily influence the overall ASE index.
Healthy trading in blue-chip Jordan Petroleum Refinery continued for the second session in a row, ending unchanged at JD11.13 in turnover of JD145,000, the second busiest transaction.
Pharmaceutical company Dar Al Dawa strengthened by 0.05 to close at JD2.21 with shares worth JD85,000 changing hands. . — ( Jordan Times )
© 2001 Mena Report (www.menareport.com)
