Financial sector grabs lion's share of profits in Amman bourse

Benchmark of Amman Stock Exchange (ASE) rose for the second consecutive week gaining 27.8 points, buoyed by earnings posted in six sessions, where lion's share of the earnings was grabbed by the financial sector. According to the stock market weekly report, released on Friday, main index rose, in the past week trading, to 2,023.3 points, compared to 1,995.5 points of the previous week, rising 1.4 percent. Daily trade value reached, in the past week sessions, approximately USD 12. 9 million compared with USD 13 million, in contrast to the week before -- declining 1.8 percent. The past week overall trading amounted to USD 64.6 million in contrast to USD 66 million the previous week, whereas number of traded stocks amounted to 53.7 million in 23,933 transactions. As to the sectors, the financial sector was in the lead with 69.2 percent of the total trade volume, followed by industries, 16.7 percent, and thirdly services, 14.1 percent. Comparing the past week closing stock prices with rates posted in the previous week, the report showed that 71, out of the 166 listed companies, posted gains, while shares of 60 others incurred losses.