ASE Maintains 'Steady' Performance Over Past Week

(MENAFN- Jordan Times) AMMAN - The Amman Stock Exchange (ASE) maintained a steady performance over the past week, closing at 3,659 points on 26 March, up 2.8 per cent since the beginning of the month, supported by strong domestic economic fundamentals amid ongoing regional developments.

Market analysts said the resilience reflects stable investor sentiment, underpinned by solid corporate profits, dividend distributions, and continued expatriate remittances, alongside Jordan's non-involvement in regional conflicts, according to the Jordan News Agency, Petra.

Trading activity saw notable growth, with total turnover reaching JD 61.9 million over the period from 24 to 26 March.

The average daily trading volume jumped to JD 20.6 million, compared with JD 10.9 million the previous week, marking a 90.3 per cent increase.

A total of 10.8 million shares were exchanged through 9,339 transactions, signalling a gradual return of investor confidence after weeks of cautious trading.

By sector, industrial stocks led activity with JD 33.36 million (53.86 per cent), followed by services at JD 15.26 million (24.63 per cent) and financials at JD 13.33 million (21.51 per cent).

Financial expert Wajdi Makhamreh told Petra that the ASE's performance remained positive despite regional tensions.

“Sectoral performance was generally encouraging, with gains in services, industry, and financials during several sessions,” he said, noting that the market's resilience was driven by structurally strong domestic sectors and ongoing fiscal and monetary stability.

Makhamreh added that investors are advised to focus on financially robust companies with stable earnings and low debt levels, particularly in the banking, industrial and local manufacturing sectors, while avoiding speculative trading and prioritising diversification and risk management.

Meanwhile, Omar Gharaibeh, finance professor at Al Bayt University, said that the average return of the 156 listed companies from 28 February to 28 March stood at 0.02 per cent, reflecting near-stagnation overall.

He noted, however, that some sectors achieved tangible gains, while others faced selling pressures, with volatility indicators showing an average standard deviation of 1.31 per cent and an average gap of 5.24 per cent between highest and lowest returns, highlighting sensitivity to geopolitical developments.

Gharaibeh added that structural factors, including strong local banking capitalisation and low foreign ownership, helped the ASE maintain stability and limited reactions to global risk aversion, Petra reported.

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