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UAE's weekly losses total Dhs37.6bn
Gulf financial markets declined sharply today, except Muscat, which closed 0.33% up by the end of the week. UAE shares have lost Dhs37.6bn after its general index fell by 4.6% with an overall decline of 8% since the beginning of the year. The Abu Dhabi market topped Gulf markets' decline, falling 5%, followed by Doha 4.2%, the Dubai Financial Market (DFM) 3.4%, the Kuwait Stock Exchange (KSE) 1.4% and Bahrain 0.14%.
Gulf markets heave a sigh of relief
A collective rebounding of Gulf markets has been witnessed, with all markets registering a rise except for Kuwait. Muscat regained 7.5% of its losses after rising by 3.4%, Dubai Financial Market rose by 2.6%, Abu Dhabi by 1.6%, Bahrain by 0.66% and Doha by0.95%, while the Saudi market rose up slightly by 0.28% but ended its week down by 3.1%.
UAE shares enter danger zone
UAE shares have entered the danger zone according to analysts after the DFM broke the 5,000 points mark, falling by 2% yesterday, while ADX broke the 4.400 points mark, falling by 1.8%. This adds a further Dhs13.3bn of losses, with overall losses reaching Dhs56.5bn in three days.
Gulf markets witness further declines
The Gulf stock markets continued to fall for the second consecutive day, except for the Saudi market which rose today by 2.3% after the index broke the 8,000 points mark. Muscat was the biggest loser today with a decline of 5.7%, followed by ADX which fell sharply by 3.8% to join Dubai Financial Market which lost 1% today. Doha also fell by 2.5%, Kuwait by 1% and Bahrain by 0.80%.
Saudi shares register sharp fall
Saudi's Tadawul market witnessed a sharp decline in the last 30 minutes of trading yesterday for the third consecutive week, amid expectations that the index will decline below 8200 points.
Collective fall on GCC markets; Muscat biggest loser again
All Gulf markets were in for heavy losses this week, with Muscat being the biggest loser, declining by 4.4%. The Abu Dhabi Securities Exchange (ADX) came in for the second biggest loss, dropping 4%, while the Tadawul in Saudi Arabia drop 3.3%, the Dubai Financial Market (DFM) 2.8%, Bahrain 1.5% and Kuwait and Doha 1% each.
More losses in the Muscat and Dubai amid market panic
Pressure continued for second day on GCC markets, with losses in Muscat and Dubai reaching 3.8% and 1.1% respectively. The Saudi market ended its week down 3.3%. The downward trend also continued in Doha, which fell 0.23%. Kuwait and Bahrain both rose slightly, by 0.22% and 0.07% respectively.
Heavy market losses due to foreign sales
The Dubai, Abu Dhabi and Muscat stock markets fell sharply today, due to sales by international and local portfolios. Muscat fell by 1.5%, the Abu Dhabi Securities Exchange (ADX) by 1.1% and Dubai Financial Market (DFM) by 1%.
GCC markets decline amid low trading
Five of the GCC markets fell today amid extremely low trading values, with only the Muscat and Doha exchanges rising, by 1.1% and 0.07% respectively. Trading values are adding pressure on the indices, hit by a decline in institutional foreign investments, especially in the UAE and Qatar.
Trading hampered by lack of liquidity
Fluctuation continues to dominate Gulf markets with five markets declining while Muscat and Dubai rose by 0.65% and 0.09% respectively. All markets continue to suffer from a lack of liquidity with trading value down by 50%, while initial public offerings are gaining momentum especially in Saudi and the UAE market.
Big Saudi investors trigger large scale selling
The names of investors with stakes of 5% or more in firms listed in Saudi Arabia are to be published on 16 of August, in order to boost transparency. The response by these investors was large scale selling, pushing the market down by 2.5% at one stage yesterday.
Four markets end the week lower; Muscat biggest loser
Four Gulf markets ended their week today, after an Islamic holiday was announced for Thursday. The five markets declined sharply, including Muscat which fell 7%. In Saudi Arabia, the Tadawul dropped 3.8% for the week, while the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) together ended their week down 0.58%. The Kuwait Stock Exchange was the only winner, closing up 0.60%.
Panic in the Gulf after international markets dip
A state of panic prevailed at Gulf stock markets after a sharp decline was seen by the major international exchanges. All seven Gulf markets declined today. The sharp decline witnessed by the American and European markets, after a number of international banks and institutions announced that they would write-off new debts.
Maaden jumps 60% in its first day of trading
Maaden shares have jumped 60% in the first day of trading, while the Saudi market itself declined sharply today, falling 1.6% under pressure from most leading shares. Other Gulf markets showed mixed results including Kuwait, Bahrain and Dubai which rose by 0.57%, 0.42% and 0.27% respectively.
Mixed results for leading Gulf shares after H1 profits
A general decline swept across all Gulf markets today except Kuwait, which rose slightly in the last few minutes of trading by 0.16%. The rise in Kuwait came despite many leading firms announcing a decline in their H1 profits, including Zain, Kamco and Kuwait Properties.
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