GCC Stock Markets Daily
- The news you choose »
- Login to Add to Watchlist
Gulf markets suffer more setbacks
All Gulf markets declined in trading today, some of them sharply, putting more pressures on the indices. Muscat suffered the worst decline, falling 2.6%, followed by the Saudi market, which dropped 1.8%. Elsewhere, Doha was down 1.6%, Kuwait and Bahrain 1.3% each, Dubai 0.61% and Abu Dhabi 0.17%.
Gulf markets decline on first day of Ramadan
Gulf stock markets declined today in the first day of trading in the holy month of Ramdan, amid very low trading values in most markets. Five markets fell, including Kuwait and Abu Dhabi Securities Exchange (ADX), which saw sharp declines of 1.6% and 1.2% respectively.
August performance: UAE shares lose Dhs94bn, Tadawul only winner
Gulf stock markets suffered huge losses in August except for the Saudi market which ended the month up 0.19%, but remains the biggest loser since the beginning of the year, going down 21.6%. UAE shares saw the biggest losses which reached Dhs94bn after its general index fell by 11.2% including DFM 11.8% and ADX 11.3%. Muscat came second after Dubai, down 11.6%, followed by ADX 11.3%, Doha 9.7%, Bahrain 3.8% and Kuwait 3.6%.
Saudi Stock Exchange falls sharply
The Tadawul fell sharply yesterday taking away one third of its profits from last week, which reached 5.1%, after its general index fell by 2%.
Muscat biggest loser, Saudi biggest winner
Omani shares have witnessed the biggest weekly decline among all Gulf markets going down 7.1%, while Saudi's market was the biggest winner with 5.1%, followed by Bahrain at 0.11%. Doha market was the second biggest loser, going down 5.3% followed by Dubai 2%, ADX 0.88% and KSE 0.61%.
UAE portfolios save Emaar
Dubai Financial Market managed to rebound up 2% after sharp decline yesterday and last week, Doha also rebounded up 0.44%, despite having more losses yesterday. Traders in Muscat were caught by surprise after the market fell sharply by 2.8% after witnessing a good performance over the last five sessions. ADX failed to perform and fell by 0.13%, Bahrain went down by 0.15% and Kuwait by 0.03%. The Saudi market ended its week up 5.1% after profit gaining which had already pushed the index down 0.91% after a strong performance last week.
'Margin call' incurs losses of Dhs17.2bn on UAE shares
UAE lenders were caught by surprise today after they received SMSs on their mobile phones from banks asking them for immediate sales of shares after Emaar dropped to new record lows at Dhs8.95. This is below its nominal value which varies between Dhs9 and Dhs10. Brokerage firms later received extensive selling orders on Emaar and other leading shares pushing the markets to close down by 2.4%, while ADX also saw a sharp decline of 2.1%.
Dubai and Doha decline sharply
The Dubai Financial Market declined sharply yesterday, down 1.2% and losing more than Dhs7.7bn, two days after UAE shares had regained Dhs4bn of its total last week losses which had reached Dhs16bn.
Sharp losses in Oman; UAE markets regain Dhs4.1bn
The Muscat market had the sharpest decline among all Gulf markets yesterday, falling 2.1% to below 10,500 points. The index has lost 3.8% in two days. Despite the decline in the Dubai Financial market by 0.16%, UAE shares in general managed to regain Dhs4.1bn of last week's losses after the ADX jumped 0.92%.
Saudis rush to buy shares before foreigners' entry
Saudi investors rushed to invest in the Saudi market after the government decided to allow foreigners to trade in the market. The index registered its highest rise since 2006, up 5.2%.
Saudi shares bounce back
The Saudi market ended its week up 3.3%, after rising yesterday for the 8th consecutive session by 0.53%, regaining 50% of its losses since the beginning of the month. The Saudi market had declined sharply during the previous two weeks, pushing its index below the 8,000 points mark, with Sabic reaching as low as SR114.
Gulf markets rise after series of declines
UAE shares stabilized for a second straight day registering slight rises after a move by the Dubai government to fight corruption received a positive response from traders pushing the index ahead. The Dubai Financial Market rose slightly yesterday by 0.05% while the ADX rose by 0.17%. The biggest rise of the day was registered by Muscat by 1.2% and Doha 0.42%.
Dubai's market rises following move to fight corruption
The decision taken by the Dubai government to fight corruption in its private and public sectors gave traders a feeling of comfort yesterday. The Dubai Financial market climbed 0.47% while the ADX rose by 0.53% amid low trading values with less than Dhs1bn. Analysts expect the new measures to fight corruption will increase liquidity in the market.
Mixed day on Gulf stock markets
The Gulf stock markets started the week in similar fashion to performance last week, with four markets declining while three rose. The Doha stock market registered the biggest decline, falling 0.79%, with the Dubai Financial Market (DFM) down 0.57%, Bahrain 0.36% and the Abu Dhabi Securities Exchange (ADX) 0.07%.
Tadawul releases list of big investors
Few well-known names were among the list of investors with stakes of 5% or more in firms listed on the Tadawul, which was published yesterday to boost transparency. The market's response was significant, with a 1.6% rise amid improving in trading value, which reached SR5.3bn. On the Tadawul, prices for 110 firms rose, with only nine falling.
It looks like you are using a Mac - check out our 
Web Feeds