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Saudi shares fluctuate ahead of Jeddah Summit
Saudi shares started the week with fluctuations ahead of the planned oil price summit in Jeddah, which shows that the market is hanging on the outcome of the meeting. The index fell 1% after the decline of all major industry sectors, especially banking, which saw the decline of all 10 listed shares including Riyadh Bank by 1.4%, Inmaa by 1.3% and SABB by 1%.
Weekly wrap: Two winners and five losers
Gulf markets ended the week on a sharp decline, except for Kuwait's Stock Exchange which was the only winner in today's trading. Doha fell sharply by 1.6% while Muscat fell by 1.3%. The week ended with only two winners; Kuwait, which rose by 1.6% and Saudi Arabia which climbed by 0.92%. The other markets all fell: Muscat by 3.6%, Doha by 2.8%, Dubai by 1.7%, Abu Dhabi by 1.1% and Bahrain by 0.20%.
Arab portfolios support Dubai Financial Market
Dealers at Dubai Financial Market said that extensive purchases by Arab and UAE investors intervened today to limit the negative impact of foreign selling which continued for a second consecutive day. Despite this, UAE shares added more losses today, totaling Dhs1.8bn, to reach Dhs21.3bn in two days as Abu Dhabi market fell by 1%. All Gulf markets fell today, except for Kuwait, which rose by 0.20%. Doha fell by 0.86%, Muscat fell by 0.72%, the Saudi market fell by 0.37% and Bahrain fell by 0.16%.
UAE shares post Dhs9.5bn losses
UAE shares suffered heavy losses today after losing Dhs9.5bn. Dubai Financial Market witnessed one of the worst random selling operations yet, which made the index fall 1.7%, slightly less than the Abu Dhabi Securities Exchange which fell by 0.53%. Kuwait's Stock Exchange registered a new record high above its historic mark of 15.500 points after it rose by 0.53%. The Saudi market rose too, by 0.33%, Muscat rose by 0.13%, while Doha stock market fell 0.82% and Bahrain fell for the second consecutive session by 0.63%.
Markets rebound pushed by Banking and Petrochemical shares
After a collective decline lasting for two or three sessions, most Gulf stock markets rebounded and rose including Saudi Arabia, Dubai, Doha and Abu Dhabi which regained some of yesterday's losses, while Muscat, the biggest loser, failed to regain more than 50% of its losses, which reached 2.2% of market value.
ADX holds Taqa trades
Five Gulf stock markets continued to slump for the second consecutive session, while Kuwait and Bahrain went up. The Bahrain stock market rose to its record high, crossing the 2.900 point barrier, rising 0.76%. Muscat stock market witnessed one of the sharpest declines, falling by 2.2%, as the Dubai and Abu Dhabi markets fell too. Taqa was stopped from trading today following a dispute with shareholders on their right to trade on the IPO of convertible bonds which will be issued by Taqa, and are estimated to be worth Dhs4.1bn.
Three firms keep Saudi Tadawul index up
The Tadawul all share index started the week up 0.21%, boosted by trades on three of the 118 companies traded today. Al Inmaa, Petrorabigh and Zain accounted for 52%, or 149 million shares out of 287 million shares, traded in the market. The value of the trades stood at SR4.1bn out of total of SR10.7bn, equal to 38.3%.
Stock calm turns to collective decline across GCC markets
All Gulf stock markets fell today except Bahrain, which experienced a slight rise. Markets in Qatar, Dubai and Muscat saw the largest declines, with the Doha Securities Market (DSM), as expected, worst hit after nine successive rises saw it pass 12,500 points. It dropped 1.4%.
GCC markets calm after marathon rises
A relative calm fell over the Gulf stock markets today, after a series of strong rise since the start of the month. Four stock markets registered a slight decline, while three others rose, including the Doha Securities Market (DSM), which closed up 0.91%, its seventh consecutive rise. Muscat also rose 0.91%, while the Abu Dhabi Securities Exchange (ADX) was up 0.44%.
More highs in Doha and Kuwait stock markets
Both the Doha Securities Market (DSM) and the Kuwait Stock Exchange (KSE) avoided the dips hitting other GCC markets on Tuesday, reaching new highs for the second day in a row. The DSM crossed 12,500 points, rising 0.50% while the KSE crossed 15,300, up 0.30%.
Qatar record as upward trend continues
Three Gulf stocks went up Monday, including Dubai, Saudi Arabia and Qatar, while Muscat and Abu Dhabi declined by 0.55% and 0.07% respectively.
Qatar and Kuwait up while other markets slip
The Kuwait and Doha markets bucked the day's performance posted by the other GCC exchanges on Sunday, registering record highs following rises of 1.4% and 0.5% respectively. Doha approached a new record high of 12,300 points, while Kuwait approached a record of 15,300 points.
Oil price fuels Saudi exchange
The Saudi Stock Market began with a strong rise for the third consecutive week, with a 1.1% growth margin.
UAE markets up Dhs19bn
Gulf stock markets finished the first week of June up, with markets in the UAE collectively gaining Dhs19bn and Muscat hitting a new record.
Record highs for five Gulf markets
Five Gulf markets registered record trading on Wednesday including, Muscat, Abu Dhabi, Doha, Kuwait and Bahrain, after a rising wave which swept across all the GCC markets.
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