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The Bahrain All Share Index closed the week higher, rising 0.19 per cent as trading activity was dominated by the basic materials sector and Alba.
The benchmark index ended at 1,933.16 points, up 3.68 points from its previous close on August 28. In contrast, the Bahrain Islamic Index fell 0.50pc to close at 877.14 points.
For the four-day trading week, a total of 5.53 million shares were traded for a value of BD3.09m across 318 transactions. The daily average trading value was BD752,452, with a daily average volume of 1.38m shares.
The basic materials sector led all sectors by traded value, accounting for BD2.13m, or 70.79pc of the total. The financial sector ranked second with a value of BD637,648.
At the corporate level, Alba was the most traded company by value, representing BD2.13m, followed by Al Salam Bank with BD196,133.
The Saudi Arabian stock market declined yesterday, while markets in the UAE saw mixed performance.
The Saudi index was pressured by its Banking and Energy sectors, with declines in shares of Aramco and Al Rajhi pushing the benchmark toward its June lows, explained XS.com Mena head of market research Ahmed Negm.
The downturn came despite solid growth in the non-oil private sector, as the Riyad Bank PMI edged up to 56.4 in August. However, this positive sentiment was offset by lower oil prices and uncertainty over future price movements.
Meanwhile, UAE stock markets were divided. The Dubai market fell, resuming its correction as most sectors declined. In contrast, the Abu Dhabi market posted a slight gain, building on a prior rebound. The financial sector led the positive performance, supported by gains in shares of Abu Dhabi Islamic Bank, First Abu Dhabi Bank, and Abu Dhabi Commercial Bank.
Bitcoin’s recent advance stalled yesterday, consolidating above the $111,000 level after a period of volatility.
According to Exness senior market strategist Christopher Tahir the pause follows a rebound supported by strong inflows into US spot exchange-traded funds (ETFs), which attracted $332.7m on Tuesday – the highest daily total in over two weeks. This resurgence of institutional interest signals renewed confidence in the asset.
Corporate adoption is also providing momentum, as more companies convert cash reserves to crypto. CIMG Inc. recently raised $55 million to acquire 500 BTC for its treasury, following a similar move by another large company earlier in the week.
On the regulatory front, a joint statement from the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) clarified that registered US exchanges can facilitate trading of certain crypto assets. The announcement is part of a broader ‘Crypto Sprint’ initiative aimed at expanding access and facilitating adoption.
Looking ahead, Mr Tahir said all eyes are on this week’s US labour data, particularly tomorrow’s nonfarm payrolls report. “A weaker report could reinforce expectations of a rate cut later this year, while stronger employment figures could temper those bets and pressure risk assets, including cryptocurrencies.”
Meanwhile, gold surged to a fresh record high yesterday, extending a 2025 rally that has pushed the metal up about 34pc this year.
The precious metal hit a new peak around $3,547 an ounce, supported by a mix of favourable rate-cut expectations and worries about US Federal Reserve independence.
Saxo Bank head of commodity strategy Ole Hansen noted that markets now anticipate a near-certain rate cut in September, which lowers the opportunity cost of holding gold. “Geopolitical strain and a broader fragmentation of the global order have also added a premium to gold as a safe-haven asset.”
Silver has also strengthened, trading above $40 for the first time in 14 years. According to Mr Hansen, the rally in precious metals is supported by a rebound in gold-backed exchange-traded funds, which signals a more durable bid beyond central banks and momentum traders. The weaker US dollar has also kept returns favourable for non-dollar investors.
Wall Street stocks recovered some ground yesterday after technology conglomerate Alphabet rose on a favourable antitrust ruling, but gains were muted by softer-than-expected labour market data that could influence the US central bank’s upcoming interest-rate decision.
The Dow Jones Industrial Average fell 0.5pc, the S&P 500 rose 0.1pc, and the Nasdaq Composite added 0.54pc. Alphabet jumped around 8pc, while Apple also gained about 3pc.
The US dollar extended losses against major currencies, including the yen, Swiss franc and euro yesterday. The dollar index, which measures the greenback against a basket of currencies, fell 0.3pc.
European stock markets remained unscathed as traders pinned their hopes on an anticipated US rate cut later this month, with Europe’s STOXX index up 0.66pc.
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