Saudi Arabia leads the decline in Gulf bourses, down 4.1%

Gulf stock market indices were colored red at the end of Sunday’s trading, with the exception of the Sultanate of Oman, which recorded an increase in its general index. Saudi Arabia led the march of decline, as the Saudi market index ended the session today, down by 4.1% at 8,155 points (- 351 points), recording the lowest closing in a month and a half, with trades totaling about 9.2 billion riyals.

Today’s decline is the largest daily decline in the market index since May 2020, when it fell at that time by 527 points, or by 7.4%.
The session witnessed a quasi-collective decline in shares, led by “SABIC” by 5% at 93.20 riyals, and the shares of “Al-Rajhi Bank” and “Aramco” closed at 66.20 riyals (-1%) for the first and 34.50 riyals (-2%) for the second.
The Dubai Financial Market closed today, down 0.37% at 2,177 points, with few trades, with a total value of 85 million dirhams. Shares of 14 companies out of the 31 companies traded today rose, while shares of 12 companies declined, and 5 companies remained steady.
As well, the Kuwait Stock Exchange closed its trading today with the general market index down 0.99%.
Shares amounting to 240.19 million shares were traded, which took place through 11,256 cash transactions, at a value of 50 million Kuwaiti dinars, equivalent to 175 million dollars.

The general index of the Qatar Stock Exchange today recorded a decrease of 150.03 points, or 1.51%, to reach 9 thousand and 808.34 points.
During today’s session in all sectors, 299 million and 51 thousand and 879 shares were traded, valued at 444 million 577 thousand and 530.826 riyals, as a result of implementing 9440 transactions.
The daily bulletin of the Stock Exchange stated that the banking and financial services sector recorded a decrease of 0.46%. The index of the services sector and consumer goods decreased by 1.33%.
In today’s session, the shares of 4 companies rose, the prices of 38 companies decreased, and 4 companies maintained their previous closing price.

In Bahrain, the general index of the stock exchange decreased at the end of trading on Sunday, in conjunction with the decline of the commercial banking sector. According to stock exchange data, the index fell by 0.85%, equivalent to 12.33 points, to reach the level of 1435.20 points, compared to 1447.53 points in last Thursday’s session. The exchange witnessed the circulation of 4.81 million shares, worth 850.06 thousand Bahraini dinars.

The commercial banking sector decreased by 1.73 percent, while the industrial sector increased by 0.48 percent, and the services sector by 0.45 percent, while the investment sector stabilized without change in its trading.

The Sultanate of Oman was the only survivor in a series of declines, in addition to the Abu Dhabi index, as the Muscat index rose 0.19% at the end of Sunday’s trading, the first session of the week at 3564.11 points, 6.72 points winning over its levels at the end of last Thursday’s session.

The rise of the index supported the positive performance of the industrial and services sectors, to rise in the first by 0.79%. The services sector index rose 0.24%.

The volume of trading today decreased to 3.11 million shares, compared to 7.89 million shares in the last session, while the value of trading rose to 404.96 thousand riyals, compared to about 826.58 thousand riyals in the session last Thursday.