Bahrain All Share Index yesterday closed at 2,047.59 points, marking a decrease of 10.78 points below the previous closing.
The decrease was due to the fall in the communication service sector, consumer discretionary sector, financial sector, industrial sector, material sector and consumer staples sector.
Bahrain lslamic Index has closed at 1,005.73 points, marking a decrease of 12.09 points below the previous closing.
Results indicated that 104 equity transactions took place with a volume of 2,144,045 worth BD652,429.
Investors traded mainly in the financial sector, representing 71.91 per cent of the total value of securities traded.
Elsewhere in the Gulf, major stock markets rose yesterday as oil prices climbed, supported by supply worries tied to intensifying protests in oil-producing Iran and an escalation of attacks linked to Russia’s war in Ukraine.
Oil prices – a key catalyst for Gulf equities – settled 2.18pc higher on Friday. Brent was trading at $63.34 a barrel.
Saudi Arabia’s benchmark stock index extended gains for a third straight session, rising 1.3pc, with all constituents in positive territory. Energy, materials and healthcare stocks led the advance, while heavyweight Saudi Aramco gained 2.4pc and Saudi Basic Industries Corporation added 3.5pc, its strongest intraday percentage gain in nearly five months.
Sabic said on Thursday it had agreed to sell its European petrochemical business and its engineering thermoplastics business in Europe and the Americas for a combined enterprise value of $950 million.
Elsewhere Dar Al Arkan Real Estate rose 1.2pc after its international arm Dar Global said it will launch two Trump-branded luxury projects in Riyadh and Jeddah, with a combined value of $10 billion, according to CEO Ziad El Chaar.
“Risk-on sentiment continues to dominate the market following the Saudi regulator’s announcement that the market will be open to all foreign investors starting February, with the recent rebound in oil prices lending further support,” said Milad Azar, market analyst at XTB MENA.
“Looking ahead, the market (is expected) to continue its recovery from last year’s downtrend, bolstered by solid projections for non-oil economic growth and the potential for positive Q4 earnings to serve as the next major catalyst,” he added. The Qatari benchmark index rebounded from the previous session’s decline to rise 1.1pc, with all constituents higher. Qatar National Bank, the region’s largest lender, climbed 1.7pc, while Qatar Gas Transport advanced 1.6pc.
QatarEnergy said on Friday it had acquired an interest in a new exploration block offshore Lebanon.
Outside the Gulf, Egypt’s blue-chip index advanced for a third day, gaining 2.5pc to reach a record high of 42,895, with nearly all stocks higher. Commercial International Bank rose 4pc, while Egypt Aluminium Company jumped 5.1pc.
Egypt’s annual urban consumer inflation was unchanged at 12.3pc in December, data from statistics agency CAPMAS showed on Saturday.
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