BAHRAIN All Share Index closed at 2,046.73 points yesterday, marking a decrease of 0.86 points below the previous closing.
This decrease was due to a drop in the financial sector.
Bahrain lslamic Index has closed at 994.89 points, marking a decrease of 10.85 points below the previous closing.
Results indicated that 95 equity transactions took place with a volume of 1,772,376 worth BD519,213.
Investors traded mainly in the financial sector, representing 66.38 per cent of the total value of securities traded.
Gulf stock markets mostly rose yesterday, with Saudi Arabia extending gains for a third straight session and Dubai climbing to its highest level since 2008, as investors took heart from property-related announcements and looked ahead to fourth-quarter earnings.
Saudi Arabia’s benchmark stock index gained 1.3pc, with broad-based advances led by materials, real estate and communication services. Saudi Arabian Mining Co rose 4.7pc and Dar Al Arkan Real Estate jumped 7.5pc, its biggest intraday rise in nearly four months, after its international arm Dar Global said it would launch two Trump-branded luxury projects in Riyadh and Jeddah with a combined value of $10 billion, according to CEO Ziad El Chaar.
“Sentiment had already been lifted last week by the announced stock market opening to foreign ownership, but momentum accelerated today following Dar Global’s announcement as the country also opens in (the) property market,” said Joseph Dahrieh, managing director at Tickmill.
Dubai’s benchmark stock index advanced 0.7pc to 6,268, a fresh high since 2008, supported by gains in materials and communication shares. Emaar Properties climbed 1.4pc and tolls operator Salik rose 2.7pc.
“The market retains solid fundamentals that support a positive outlook, with upcoming Q4 earnings serving as the next potential boost,” Dahrieh said.
The Qatari benchmark index rose 0.7pc, extending gains for a second day. Qatar Islamic Bank added 1.1pc and Qatar Gas Transport increased 1.4pc.
The Abu Dhabi benchmark index ended flat as gains in utilities, telecom and technology offset losses elsewhere. ADNOC Gas fell 1.2pc, while Abu Dhabi National Energy Company rose 1.3pc.
Masdar, jointly owned by TAQA, ADNOC and Mubadala, said on Sunday it had signed a power purchase agreement for a solar project in Angola.
Outside the Gulf, Egypt’s blue-chip index gained 1.2pc to a record close of 43,404, extending its advance to a fourth session. Commercial International Bank surged 6.1pc and Misr Fertilizers Production Co added 2.5pc. Separately,
Egypt’s core inflation eased to 11.8pc year-on-year in December from 12.5pc in November, the central bank said on Sunday.
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