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UAE guarantees savings and KSA lowers interest rate
The UAE government has issued a decision guaranteeing all assets to calm local markets and protect them from the implications of world financial crisis. The government will also pump more liquidity into local banks whenever the need arises.
Tadawul index breaks the 6.000 benchmark
Saudi's Tadawul followed other international markets and registered sharp falls. The index failed to rise above 6000 points despite lowering its losses to only 6% down.
UAE shares lose Dhs130bn
Gulf stock markets finished one of their worst weeks in their history with a small rebound. But that doesn't hide the decimation experienced. UAE suffered most, with their biggest losses since they were established in 2000 - down a whopping Dhs130bn in five sessions, following on from their Dhs81bn of losses during September.
Gulf Central Banks step in to save markets from collapse
After four days of decline, Gulf central banks stepped in to save the local bourses after another day of sharp falls which have seen shares in the UAE alone lose Dhs141bn.
Situation worsens on Gulf exchanges
For third consecutive post-Eid session, Gulf bourses continued to post heavy losses after pressure from the international crisis and selling by foreign portfolios. Despite international markets closing up yesterday, local markets refused to follow same pattern. Muscat was the biggest loser going down 7.2% followed by Tadawul 7%, Dubai 5.1%, ADX 4.5%, Kuwait 2.7%, Doha 1.5% while Bahrain lost the least, only going down by 1.5%.
Gulf market losses continue to mount
Gulf stock markets have witnessed one of the worst falls in history, especially Tadawul which lost 10% of its value with most listed firms falling. Dubai Financial Market fell sharply, losing 7.6% pushing the index below ADX for the first time in eight years. Muscat fell by 6.7%, ADX 5.6%, KSE 4.8%, Doha 4.5% and Bahrain by 1.5%.
Stocks plummet post Eid
Gulf stock markets resumed their activities yesterday, except for the Saudi market which resumes today, with sharp declines for all markets, including the UAE which lost Dhs35bn, added to its Ramadan losses of Dhs81bn.
UAE shares lose Dhs81bn in Ramadan
Gulf stock markets have concluded the holy month of Ramadan and the third quarter of the year with heavy losses despite the strong rise witnessed this week.
Saudi shares fall 14.8% in Ramadan and 20.2% in Q3
Despite its rebound by 6.6% yesterday, Saudi shares ended Ramadan trading with a sharp decline of 14.8%. Saudi shares also ended the third quarter down 20.2%, becoming the worst performer among all Gulf stock markets with a decline of 32.4% since the beginning of the year.
Tadawul breaks 6.900 benchmark for the first time in 15 months
One day before the beginning of the Eid holiday, sharp falls continued to grip the Saudi market causing it to break the 6900 benchmark for the first time in 15 months with a decline of 3%.
UAE regains Dhs12bn out of Dhs120bn
UAE shares have regained Dhs12bn from its total losses, which have reached Dhs120bn since the beginning of the month, ending the week up 1.8%. ADX rose up by 2.6% and Dubai by 1% while the market value of the shares jumped to Dhs649.8bn from Dhs637.8bn last week.
Sabic plummets below SR100
The Saudi market saw its worst decline yet, going down 3.4% on the week. The Saudi decline is part of a wave of falls which hit the Gulf markets and was described by Global as a 'massacre'.
UAE shares lose 50% of Sunday's gains
UAE shares carried on falling for the second consecutive session and lost almost 50% of the gains achieved on Sunday. UAE markets have lost Dhs20bn today after DFM fell by 3.5% and ADX lost 2.8%. Other Gulf markets also witnessed a decline except for Doha which rose slightly by 0.08%, while Kuwait fell by 2%, Bahrain 1.4%, Muscat 1.2%, while Saudi's Tadawul remained closed because of the National Day vacation.
Mixed results on Gulf bourses
One day after their strong rise, gulf markets witnessed mixed movements with three markets, Muscat, Doha and Abu Dhabi, going up and four others, Dubai, KSA, Kuwait and Bahrain, reporting losses. The markets have started to witness more liquidity as investors bid to buy more shares at the current low prices, expectations indicate the markets will witness a jump after the Eid vacation.
Gulf markets back on upward trend
Gulf markets witnessed considerable growth today, the highest in three months, after being subject to sharp declines in the last few days. Local markets have responded positively to improvements on the international bourses following the US measures to rescue the markets.
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