September 28, 2022

Dubai Week

Complete Dubai News World

Gulf stock markets lose $ 94 billion a day due to "Corona Omigron"

Gulf stock markets lose $ 94 billion a day due to “Corona Omigron”

Testified Gulf Stock Exchange One of the worst sessions in 2021, At the start of the week’s trade, the World Health Organization called it “Omigron” because the souls of those handling the new variant of Govit-19 were affected, and classified it as a “source of concern”.

On Friday, oil prices fell 10% to a two-month low of $ 73 a barrel, while US crude traded below $ 69 a barrel. US Dow Jones Above 900 points, European markets fell by 3 to 4%.

In the Gulf markets, the Dubai market topped the slump during yesterday’s session, while the Saudi market lost one of its worst points since May 2020, while the Muscat market thanked the Omani National for its stock market holiday. Day.

According to Gulf Stock Exchange data, markets lost $ 94 billion to $ 3.45 trillion during trading session on Sunday, reaching $ 3.45 trillion, according to the newspaper Al-Iktisadia.

The Dubai market lost $ 7.6 billion in its market value after the market plunged 5.2% to 3,000 points.

Although the Saudi market fell more than 4.5%, it recorded the worst session since May 2020, when the market lost 11,000 points for the first time in four months and closed at 10,787 points.

Shares of Petrochemicals fell sharply, while shares of Saudi Cayenne and Petro Robic fell by at least 10%, while SABIC shares fell by 6.2%, the biggest daily decline since March 2020, at 112 riyals per share, the lowest level of eight. Months.

Among other Gulf markets, Qatar’s market fell 2.8%, followed by the third-largest market crash, followed by Kuwait’s 2.7%, followed by Bahrain and Abu Dhabi with 1.9 and 1.8%, respectively.

See also  Global markets are ignoring the impact of interest by supporting energy stocks and banks