Monday, June 17, 2024

Saudi Arabia led the way in the fall in Gulf stocks earlier in the week


On Sunday, the Saudi stock market plunged for the second consecutive session on the back of pressure from banking and petrochemical stocks, while the Qatari index rebounded after falling more than 2% in the previous session.

The main index of the Saudi stock market fell 0.8 percent, extending losses on Thursday, the Saudi National Bank fell 2.6 percent and the oil company Saudi Aramco fell 1.4 percent.

On the other hand, the Qatari stock market index rose 0.1 percent, falling more than two percent on Thursday after receiving some support from financial and energy stocks.

Outside the Gulf region, the blue-chip index in Egypt fell 0.8 percent, Commercial International Bank (CIB) 0.7 percent and Abu Gir Fertilizers 2.3 percent.

Saudi Arabia

The Saudi market index ended 0.8% lower at 12,335 points (-93 points) in Sunday’s session, hitting a three-month low of about 12.8 billion riyals, and a deal with the General Investment Fund for market trading. The acquisition of 16.87% of Kingdom Holding’s capital was 5.7 billion riyals, and the shares of 46 companies listed on the Saudi market saw active trading compared to the average trading of the last 3 months.


The Qatar Stock Exchange also ended the day with a slight gain on Sunday, after the FTSE announced the quarterly review of the Russell Index, amid a contraction of the trade, the general index rose 0.09% to 12,741.49 points, gaining 11.27 points that day. Shares of Qatari companies in the index saw gains in the transport and real estate sectors, while 5 sectors saw declines: insurance, communications, merchandise, industry, banks and financial services traded lower on Sunday; Cash flow reached 323.97 million riyals, compared to 812.72 million riyals on Thursday, compared to 178.87 million riyals in the previous session, trading at 81.35 million.

See also  Stock indices in the US were mixed at the end of today's session; The Dow Jones Industrial Average rose 0.04%.


The Kuwaiti stock market closed at 75.7 points, 7803.7 points, down 0.33%, or 11.05 points, 6030.23 points, or 0.18 percent, as the general market index closed on Sunday. , 94.8 million shares traded with 4,255 cash transactions worth 12.3 million, with the Premier Market Index down 32.18 points to 866.4 points, or 0.37% to 76.6 million shares traded at 6589 cash deals worth 40.2 million dinars.

Two seas

The Bahraini Stock Exchange benchmark index, down 0.85% at 1656 points, closed at 1905.88, with a trading volume of 679.9 thousand, valued at 262 thousand Bahraini. The wired and wireless sector declined 5.48%, followed by the Bahrain Commodities sector, which fell 45.94% due to the pressure of 0.8% on aluminum Bahrain stocks.

Shares of Al Barakah Banking Group, Arab Banking Corporation, Bank of Bahrain and Kuwait, Ahly United Bank and National Bank of Bahrain fell 1.32% to 1.30%, while the financial sector fell 30.18%. The luxury consumer goods sector fell 15.20%, down 1.01%, 0.56%, 0.16%, respectively, while Bahrain’s hotel premises fell 1.07% due to pressure, while Zain Bahrain’s rose 6.43%.

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

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