GCC Stock Exchanges Today and the Rise of the Kuwait and Bahrain Stock Exchanges
The Gulf bourses were mixed Wednesday, with the Kuwait and Bahrain stock indexes up for the fourth consecutive session, while the Dubai Financial Market [DFM] fell due to rapid profit taking on some of the leading stocks.
Kuwait Stock Exchange
KUWAIT: The Kuwait Stock Exchange [KSE] closed Wednesday, led by the rise of 9 sectors headed by Industrial and Telecommunications.
The general market index gained 0.68% to close at 5710.02 points. The index rose 0.84% to close at 6205.36 points. The benchmark index jumped 0.26% gaining 12.39 points to close at 4746.53 points.
Trading on 110.4 million shares worth KD 30.7 million was exchanged through 5488 transactions.
On the Kuwait Stock Exchange [KSE], followed by the Industrial sector [1.43%], followed by Telecommunications [1.12%], Basic Materials [0.69%], Banks [0.66%], Oil & Gas [0.44%], Followed by insurance, consumer services and real estate by 0.31%.
Followed by Al-Eid [8.59%], Red Resorts [14.29%], then [11.24%], and 9.78% [9.78%]. %.
Bahrain Stock Exchange
Bahrain Financial Market Index rose 0.18% to close at 1430.14 points, led by the rise in commercial banks and services.
The Bahrain Stock Exchange closed at 2.6 million shares at a total value of BD 611,000.
Bahrain's commercial banking sector led the growth of 9.85%, led by Ahli United Bank [AUB] gaining 0.61%. The services sector gained 1.86%, led by Bahrain Telecommunications Co [0.29%].
Saudi Stock Exchange
The general index of the Saudi stock market "Tassi", ended the trading Wednesday, 1.6% down 137.02 points to close at 8413.88 points, and the parallel market index – growth of 0.58% losing 20.12 points to close at 3435.74 points.
The volume of trading on the Saudi Stock Exchange closed at 114.8 million shares worth 3.2 billion riyals, shares rose 92 companies, while declined 80 companies.
The health sector was followed by the health care sector [3.28%], the telecommunications sector [2.58%], the food sector [2.53%], the pharmaceutical sector [2.12%], 1.48%.
"Research and Marketing" topped the green list listed on the stock exchange with a growth of 4.52%, followed by AXA Cooperative by 4.17%, followed by fish by 3.84%, while the share of "Metlive AIG Arab" red list down 7.53% 6.32%, and SABB by 6.10%.
Dubai Stock Exchange
The general index of the Dubai Financial Market, ending Wednesday's trading, fell 0.28%, losing 7.31 points to close at 2599.70 points.
Volume reached 153.5 million shares, with a total value of 212.8 million dirhams, through 3134 transactions for 32 shares. 11 shares advanced, 18 losers and 3 shares.
The sectors that followed were the Services sector that shed 1.69%, the Services sector that came down by 1.45%, the Real Estate sector by 1.06%, the Insurance sector by 0.98%, the Telecommunication sector by 0.20%, and the Banks sector by 0.13%. Investment sector by 1.62%, and transport sector by 1.21%.
The top gainers were Damac Properties, which rose 2.14%, Shuaa Capital was down 1.89%, while Al Safwa Mubasher Financial Services was the top loser by 9.89% and Ithmaar Holdings by 5.66%.
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