Bahrain All Share Index closed at 2,067.11 points yesterday, marking a decrease of 4.92 points below the previous closing.
This decrease was due to the drop in the communications services sector, the financial sector, the industrial sector, the material sector and the real estate sector.
Bahrain Islamic Index has closed at 1,029.95 points, marking an increase of 1.55 points above the previous closing.
Results indicated that 115 equity transactions took place with a volume of 5,958,186 worth BD 1,671,260.
Investors traded mainly in the financial sector, representing 77.29 per cent of the total value of securities traded.
Most stock markets in the Gulf ended higher yesterday, buoyed by Friday’s gains in oil prices and amid ongoing investor attention to US data influencing the Fed’s monetary policy outlook.
Oil prices – a catalyst for the Gulf’s financial markets – edged up on possible disruptions from a US blockade of Venezuelan tankers as the market waits for news about a possible Russia-Ukraine peace deal.
Saudi Arabia’s benchmark index TASI gained 0.3pc, led by a 0.8pc rise in oil behemoth Saudi Aramco and Al Rajhi Bank, which was up 0.2pc.
Recent US macroeconomic indicators have bolstered expectations for interest rate cuts, as US consumer prices increased by 2.7pc year-on-year in November, below economists’ anticipated rise of 3.1pc.
In a separate report earlier this week, the US Labour Department noted that the unemployment rate climbed to 4.6pc in November, marking the highest level since September 2021.
Traders continued to bet on at least two 25-basis-point interest rate cuts next year from the Fed, according to LSEG data.
US policy is closely watched in the Gulf, where most currencies are pegged to the dollar.
In Qatar, the index closed 0.6pc higher, with petrochemical maker Industries Qatar rising 0.6pc.
Outside the Gulf, Egypt’s blue-chip index advanced 1pc, ending three sessions of losses, with Commercial International Bank climbing 3.2pc.
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