Gulf Stock Markets Close Mixed: A Look at Regional Movements
On Tuesday, Gulf stock markets showcased a mixed performance, with Oman leading the way in gains, while Qatar experienced the sharpest declines. Saudi Arabia and Kuwait managed slight increases, highlighting a varied trading atmosphere across the region.
Saudi Arabia’s Steady Performance
In Saudi Arabia, the main stock index, known as TASI, increased by 4.31 points, closing at 11,596 points. This rise was fueled by a substantial trading volume of 5.8 billion Saudi riyals (approximately $1.55 billion). In contrast, the Saudi Parallel Market Index (NOMU) saw a decline, falling by 113.9 points to settle at 25,689.28 points, with more than four million shares exchanged, totaling a value of 39 million riyals ($10.4 million).
Kuwait Sees Mixed Results
Kuwait’s stock market reflected a blend of gains and losses. The All Share Index rose by 18.51 points, or 0.21%, to reach 8,858.82 points, amid a trading volume of 769.6 million shares valued at 158 million Kuwaiti dinars (about $483 million) across nearly 37,000 transactions. Additionally, the Premier Market Index climbed by 49.39 points (0.53%) to close at 9,391.46. However, the Main Market Index took a hit, dropping 1.18% to finish at 8,478.29, while the Main 50 Index slipped 0.15% to 8,853.77.
Qatar’s Declining Trend
Qatar’s stock market faced a more challenging day as the Qatar Stock Exchange (QSE) Index fell by 90.03 points, or 0.83%, closing at 10,745.92 points. The total trading volume reached 117.7 million shares valued at 371 million Qatari riyals ($101.8 million) across over 22,500 transactions. The day ended with 11 companies seeing gains, while 33 experienced losses, and eight remained unchanged. The total market capitalization was reported at 643.45 billion Qatari riyals ($176.8 billion).
Oman’s Notable Gains
Oman stood out among its peers, as the Muscat Stock Exchange (MSX 30 Index) surged by 47.4 points, or 0.91%, to close at 5,240.08 points. This performance marked the strongest gains in the region for the day. Trading volume increased dramatically, surging by 67.9% from the previous session to reach 60.65 million Omani riyals ($157.5 million). Market capitalization also grew by 0.305% to approximately 30.51 billion Omani riyals ($79.3 billion), buoyed by a net inflow from non-Omani investors, which amounted to 1.46 million Omani riyals ($3.8 million).
Bahrain’s Minor Decline
In Bahrain, the All Share Index saw a slight downturn, slipping by 0.21 points to close at 1,970.96 points. This decline came primarily from setbacks in the financial and materials sectors. The Bahrain Islamic Index also fell, dropping 0.52 points to 940.05 points. During the session, three million shares were traded across 91 transactions, amounting to a total value of 797,589 Bahraini dinars (approximately $2.11 million). Most trading activity centered around the financial sector, which accounted for a significant 91.48% of the total turnover.
Regional Market Overview
The overall sentiment across the Gulf Cooperation Council (GCC) trading landscape reflected muted investor confidence, shaped by fluctuating global oil prices and cues from the U.S. markets. Oman’s commendable performance, driven by strong international participation, contrasted with Qatar’s broader declines, which impacted the regional index’s overall momentum. As traders continue to respond to external market influences, the landscape remains dynamic, with varying trajectories across the individual markets.
