Amman, Oct. 13 (Petra) -- The Amman Stock Exchange (ASE) kept a rally on Sunday, with the index advancing 71 points to close at 3,188, 2.3 percent up from the previous session.

The trading volume reached approximately JD17 million amid a strong performance in the banking, services, and industrial sectors.

In parallel with the index’s rise, the market capitalization of listed equities increased to around JD24 billion, up 3.6 percent since the start of the year, reflecting growing investor confidence and higher participation by both domestic and foreign investors.

Analysts attributed the market’s strong performance to a "shift in investor sentiment to optimism." Technically, the breakout above the 3,180-point level signaled a bullish reversal, supported by rising turnovers and liquidity inflows into blue-chip stocks particularly within the banking sector, which remains the focal point of market activity.

Experts noted that the index is now poised to test a new resistance zone between 3,220 and 3,250 points in the coming sessions, driven by sustained institutional buying and improved turnover. A successful break above this zone could open the way for another upward leg toward 3,300 points, provided investment inflows continue and selling pressure remains limited.

The market’s resilience over recent weeks, despite volatility in regional exchanges, underscores the strength of Jordan’s economy, the depth of its investor base, and growing confidence in its productive and service sectors.

Outlook for the fourth quarter remains bullish, supported by favorable technical indicators. The ASE is increasingly viewed as a safe and attractive investment in the region, aided by exchange rate stability and rising investor confidence in the national economy.

The improvement in market capitalization to this level also enhances the ASE’s appeal to foreign investors and reinforces Jordan’s position as one of the region’s most stable and balanced markets.

//Petra// AO