Silent closure of Gulf stock exchanges and bank shares support Abu Dhabi



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The Gulf stock markets had a mixed weekend, while the Abu Dhabi stock market indices benefited from the support of the banks.

The Abu Dhabi Securities Exchange index was 0.13% at 4897.57 points, after trading 44.968 million shares with a liquidity of 103,091 million dirhams achieved during 911 transactions. Most sector indices were led by banks (0.56%), investment and financial services (0.49%), energy (0.65%) and telecommunications (0.12%).

RAK Ceramics was the market leader in terms of liquidity with 20.918 million AED, down 0.01 dirhams to 2.18 AED per share, followed by Etisalat with a total of 17.472 million AED, down 0.12% at AED 16.98 at closing. Followed by Abu Dhabi First Bank with a total of 14.318 million AED.

The MSM index was able to change course at the end of the session with the support of significant market shares: it rose 0.02% to 4 553.97 points, after trading 7.294 million securities for liquidity 1,272 million riyals executed in 329 transactions. On the other hand, 30 shares were traded, of which 4 rose by 3.09% at Raysut Cement, while Al Madina Investment and Bank Dhofar gained 2.56% each. Fourteen titles, led by Oman National Engineering, lost 2.86% and 12 stocks have stabilized at their previous closing levels.

The Bahraini financial market (BSE), led by banks and investments, rose by 0.25% to 1,318.87 points and 1,314 million shares were traded with a liquidity of 275,217,000 BD. The rise in the market was supported by a rise of 13.46 points in the banking sector, Khaleeji Commercial Bank up 7.14% and Ahli United gaining 0.75%. The investment sector also gained 2.21 points, supported by GFH Financial by 1.47%.

In contrast, the Dubai index edged down 0.42% to 2724.83 points, after trading 123.547 million shares in cash of 173.733 million dirhams. Market performance was affected by the decline in major market shares, such as Emaar (+ 2.01%) against AED 4.88 and Dubai Islamic Bank (+ 0.39% vs. AED 5.16).

Aramex tops the list of assets in terms of liquidity with a total of 37.102 million AED after falling 0.76% to 3.93 AED, followed by Gulf Navigation Holding with a total of 27.068 million AED. to close at 1.11 AED.

The Kuwait Stock Exchange (KSE) lost 0.12% to close at 5033.42 points after trading 60.856 million shares with a liquidity of 13.471 million KD executed during 2895 transactions. In declining sectors, five sectors, including oil and gas, lost 1.22%, while six technology-led sectors advanced 7.76%.

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