Amman, Oct. 12 (Petra) -- The Amman Stock Exchange (ASE) extended its bullish trend at the start of the week amid robust investor sentiment and heightened trading activity.
The index advanced 0.79 percent, breaching the key psychological resistance level of 3,100 points to close at 3,117, supported by a notable uptick in turnover and liquidity exceeding JD18 million.
The market’s strong performance reflects sustained investor confidence, underpinned by solid third-quarter earnings from listed firms, stable macroeconomic fundamentals, and increased institutional demand for blue-chip equities across the banking, services, and industrial sectors.
Analysts said the index remains poised for further upside in the near term, with momentum driven by persistent buying pressure and capital rotation into fundamentally sound stocks, despite intermittent profit-taking following quarterly disclosures.
Market participants noted that the main index’s resilience amid corrective trades signals the strength of the prevailing uptrend and investors’ growing appetite for calculated exposure to equities, particularly as both domestic and foreign portfolios re-engage with the market to capture value opportunities.
The upbeat sentiment coincides with improving average daily trading volumes and a higher number of executed transactions indicators of enhanced market depth and liquidity as well as rising confidence in the national economy’s growth prospects. This optimism has been bolstered by stable interest rates and a global pivot toward looser monetary policy stances.
Breaking through the 3,100 threshold carries both technical and psychological significance, suggesting scope for further upside in the short term and potential testing of new resistance levels should liquidity inflows and buying momentum persist.
Looking ahead, observers expect investor confidence both retail and institutional to strengthen further if listed companies maintain robust earnings performance. Anticipation surrounding dividend announcements and expansion plans could also sustain the market’s upward trajectory.
Overall, the current performance underscores the ASE’s resilience and adaptability to both domestic and regional economic dynamics.
//Petra// AO
