The Bahrain Bourse closed its trading session yesterday on a distinctly positive trajectory, driven by strong activity and concentration in the financial sector.
Both key market indices registered gains with the Bahrain All Share Index rising by 3.27 points (0.16 per cent) to close the day at 2,075.34.
The Bahrain Islamic Index saw a stronger climb, gaining 6.74 points (0.67pc) to close at 1,007.99.
Trading activity was highly concentrated, reaching a total market turnover of BD1,302,380 across 4,443,556 shares in 97 total deals.
The financial sector was the overwhelming driver of this activity, accounting for 70.55pc of the total traded value. This amounted to BD918,851 from a volume of 4,050,086 shares, executed through 62 deals.
The three most traded companies accounted for nearly all of the day’s total value.
GFH Financial Group was the market leader, totalling BD873,685.36 and representing 67.08pc of the total value traded. Investors traded 3,861,648 shares of GFH through 45 deals.
Alba secured the second spot, contributing BD351,535.08, which made up 26.99pc of the market’s total value.
Beyon followed in third place, with trades valued at BD28,900.96, or 2.22pc of the total market value.
Overall, shares of 14 companies were traded during the session. The market sentiment was predominantly positive, with share prices of three companies rising and only one company’s share price decreasing. The remaining companies maintained their previous closing prices.
Saudi Arabia stocks were lower after the close yesterday, as losses in the media and publishing, real estate development and hotels and tourism sectors led shares lower.
At the close in Saudi Arabia, the Tadawul All Share fell 0.51 per cent to hit a new one-month low.
The best performers of the session on the Tadawul All Share were Saudi Industrial Development Company, which rose 5.03pc or 0.92 points to trade at 19.20 at the close. Meanwhile, the National Company for Glass Industrie added 3.76pc or 1.52 points to end at 41.98 and Walaa Cooperative Insurance Company was up 3.52pc or 0.41 points to 12.05 in late trade.
The worst performers of the session were Tanmiah Food Company, which fell 9.94pc or 7.35 points to trade at 66.60 at the close. Allied Cooperative Insurance Group declined 8.55pc or 0.87 points to end at 9.30 and Advanced Building Industries Company was down 7.91pc or 2.98 points to 34.68.
Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 244 to 89 and 20 ended unchanged.
Shares in Saudi Industrial Development Company rose to five-year lows; shares in Tanmiah Food Company fell to three-years lows; and Allied Cooperative Insurance Group shares fell to five-year lows.
Crude oil for December delivery was up 0.54pc or 0.32 to $59.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 0.39pc or 0.25 to hit $63.63 a barrel, while the December Gold Futures contract rose 0.47pc or 18.80 to trade at $4,009.80 a troy ounce.
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