Capitals: The indexes of the Gulf stock markets closed in the first session of the week on a mixed note, with three markets led by the Kuwait market with strong gains, and down in four, led by Saudi Arabia.
This is the first trading session in the Gulf markets, after the announcement of US President Donald Trump’s infection with the Corona virus, on Friday, followed by a sharp decline in US stocks and crude oil prices.
Crude prices tumbled 4%, on Friday, to end trading on weekly losses for the second week in a row.
The main index in the Kuwait market recorded strong gains in the first trading session, after a three-session closure, in mourning for the late Emir of the country, Sabah Al-Ahmad Al-Jaber Al-Sabah, who died last Tuesday.
The index closed up 3.06 percent to 6,205.27 points, supported by the rise of most of the listed shares, led by “hotels”, which rose by 31.083 percent, First Investment by 26.35 percent, and National Bank of Kuwait by 4.84 percent.
On the other hand, the Saudi market index “Tadawul” suffered big losses, down by 1.41 percent to 8,177.76 points, and oil giant Aramco plunged 1.82 percent, and Al-Rajhi Bank and SABIC fell by 1.37 percent and 0.90 percent, respectively.
In the UAE, the Dubai Stock Exchange index fell 0.93% to 2,244.63 points, and the losses were led by Gulf Navigation, down 5%, and Dubai Islamic Bank and Emirates NBD fell 2.08% and 1.41%, respectively.
Dubai’s index losses came a day after announcing the liquidation of “Arabtec”, in a move that reflects the crisis of the real estate sector in the emirate.
The Abu Dhabi Market Index registered a slight increase of 0.02%, supported by the gains of Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank by 1.07% and 0.71%, respectively.
The Qatar Stock Exchange index decreased by 0.52 percent to 9,953.51 points, and the decline was led by United Development, which fell by about 2 percent, while Qatar Electricity and Water and Qatar National Bank fell 1.66 percent and 0.61 percent, respectively.
The Muscat Stock Exchange index fell 0.54 percent to 3595.11 points, and the losses were led by Muscat Finance, which fell 4.26 percent, and Oman Gas and Bank Muscat fell 1.90 percent and 1.66 percent, respectively.
The Amman Stock Exchange was closed Wednesday and Thursday, to mourn the death of the late Emir of Kuwait.
The Bahrain Stock Exchange index rose 0.27 percent to 1436.29 points, and the gains were led by the Ahli United Bank of Bahrain “Alba”, up 1.30 percent and 0.25 percent, respectively.
(Anatolia)
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