Friday, April 19, 2024

Financial Market Expert: Arab stock markets are reacting positively to the rise in oil prices


Hanan Ramses, an expert in financial markets, said it still exists Arab stock markets This is positively correlated with the rise in oil and gas prices, but some markets have entered the profit-making phase to test the record points they have reached, which has lifted the indices of some Arab countries to the highest level in their history.

Hanan Ramses, an expert in financial markets, reviewed the performance of the Arab codes in a week, which was characterized by a difference after reaching large resistance areas.

Saudi Stock Exchange

The Saudi Arabian stock market ended its weekly trading in red on the back of a slump in liquidity compared to last week, in light of the diversification of its key sectors, to recover its losses.

The Saudi Arabian stock market index “TASI” fell 0.57% to 12,684.16 points, down 72.15 points from 12,756 points in the week ended March 10. Previous week.

The market loss for the week was about 625.1 billion riyals, which was 11.455 trillion riyals in the market capitalization of the shares listed on “Tadaul”, compared to 12.08 trillion riyals last weekend.

In light of the decline in the 10 sectors led by the energy sector, the general index fell by about 6% and the banking sector by 0.91%.

Other sectors led by the telecom sector saw positive performance, up 0.72%, the basic goods sector up 0.27%, and the public utilities sector up 5.72%.

“Arabia” stock recorded the highest losses for the week after a decline of 7.43%, and “export” stock gained the most, rising 12.21%.

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At all levels, trading volume declined during the week ended March 10, compared to the levels for the week ended March 3.

Trade values ​​were around 55.9 billion riyals, down 5.3% from about 59 billion riyals in the previous week.

Shares traded down 6.79% to 1.26 billion shares, compared to 1.35 billion shares traded last week.

“Saudi Aramco” dominated stock activity at all levels, with a trading volume of 130.03 million shares worth 5.69 billion riyals.

At the equivalent market level, the “upper limit growth” index ended its weekly trading with a gain of 0.09%, or 22.34 points, to 24,789.36 points.

Equivalent trading values ​​fell to 555.66 million riyals compared to 615 million riyals in the previous week, and the volume fell to 5.95 million shares compared to 7.04 million riyals last week.

Kuwait Stock Exchange

The key indices of the Kuwaiti stock market diverged during this week’s trading, with stock market value rising and growth in trading, which led to a record increase in oil prices and the potential for relative weight gain. Kuwait plays a role in global codes.

The key indicators of the Kuwaiti stock market diverged during this week’s trading, with the market value of the stock rising and the growth of the trade, which is due to the record increase in oil prices and the potential for relative weight gain. Kuwait plays a role in global codes.

The Main Market Index 50 fell 1.89% to close at 6552.76 points this week, down 126.42 points from the previous week’s level.

The main market index was down 0.16% at 6341.45 points, losing 10.20 points from its level for the week ended March 3, 2022.

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On the other hand, the Premier market index rose 1.82% to 8756.23 points, up 156.84 points from the previous week.

The weekly result of the general index was positive as it ended at 7957.59 points, up 1.36% from the previous week’s level and equated to 107.01 points.

The market value of Kuwaiti stocks stood at 47.449 billion dinars, an increase of 1.34% from its volume of 46.822 billion dinars for the week ended March 3, 2022.
Significant increase in trade

Trading this week saw a collective growth, with last week’s trading being only for two sessions; The stock market closed its trading on Sundays, Mondays and Tuesdays to celebrate National Day and Liberation Day.
The value of trading on the Kuwaiti stock market this week was 334.78 million dinars, up from 207.44 million dinars in the previous week, up 61.39%.

Trading volumes rose 92.45% to 1.32 billion shares this week from 685.27 million shares last week.

In terms of the number of contracts executed this week, it reached 63.12 thousand contracts, an increase of 100.08% over the previous week’s 31.55 thousand contracts.

United Arab Emirates Financial Markets

At the close of trading, the Dubai financial market was up 0.59 percent at 3,402 points.

In addition, 94.161 million shares of Dubai stock traded worth 244.704 million dirhams.

It came amid a 2.27% increase in the Dubai financial market, Dubai investments 2.13%, Emaar Properties 1.5%, and GFH Financial Group 1.70%.

The Abu Dhabi Securities Exchange index was up 0.31% at 9635 points.

Abu Dhabi shares traded 198.692 million shares worth 1.520 million dirhams.

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Aktia Group rose 0.44%, Altar Properties 0.69%, Alpha Holdings 0.59%, Dana Case 1.79% and First Abu Dhabi Bank 0.45%.

The financial markets expert, who expects the Arab stock markets to rise during next week’s session, called for a season of trading results, in which several Arab countries achieved significant and record highs.

Read more | Variation of key indicators of the Kuwaiti stock market with the increase in the market value of the stock

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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