Stock market experiences slight downturn
Date
10/7/2024 7:05:21 AM
(MENAFN) The stock market experienced a slight downturn yesterday, with the general share price index closing at 2367.92 points, reflecting a decrease of 0.21 percent. Trading activity was moderate, with total trading volume reaching approximately KD 2.5 million, as 2.0 million shares changed hands through 1,441 executed contracts.
In assessing the performance of the 85 companies that were actively traded, the data reveals a mixed picture. Out of these companies, 22 saw an increase in their share prices, while 35 experienced a decline compared to their previous closing values. This disparity highlights the varied performance across different sectors of the market.
From a sectoral standpoint, the industrial sector led the decline, with its index falling by 0.50 percent. The financial sector followed closely behind with a decrease of 0.17 percent, while the services sector also saw a slight reduction of 0.09 percent.
On the flip side, several sub-sectors showed positive growth despite the overall market decline. Notably, the Pharmaceuticals and Medical Industries sector increased by 0.66 percent, while the Educational Services, Real Estate, Insurance, and Transport sectors saw rises of 0.38 percent, 0.23 percent, 0.17 percent, and 0.05 percent, respectively.
Conversely, a number of sectors faced significant declines. The Electrical Industries sector was the hardest hit, dropping by 2.17 percent, followed by the Engineering and Construction Industries with a decrease of 1.95 percent. Other sectors, including Diversified Financial Services, Hotels and Tourism, Extractive and Mining Industries, Food and Beverages, and Commercial Services, also reported losses ranging from 0.05 percent to 1.00 percent.
In terms of individual stock performance, the top five gainers included Al-Mubadaa Transport & Investment, which surged by 5.26 percent, and Jordan Commercial Bank, which climbed by 4.17 percent. Both Jordan Decapolis Properties and Rum Financial Brokerage also posted gains of 4.17 percent and 3.03 percent, respectively. Al Sheraa Real Estate Development & Investments matched this performance with a rise of 3.03 percent.
Overall, while the stock index faced a slight decline, certain sectors and individual stocks displayed resilience, suggesting a complex market environment with varying opportunities for investors.
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