Bahrain All Share Index closed at 2,058.35 points yesterday, marking a decrease of 3.91 points below the previous closing.
This decrease was due to a drop in the materials sector.
Bahrain lslamic Index has closed at 1,020.65 points, marking an increase of 0.13 points above the previous closing. Results indicated that 42 equity transactions took place with a volume of 572,488 worth BD205,423.
Investors traded mainly in the financials sector, representing 52.51 per cent of the total value of securities traded.
Meanwhile, major Gulf stock markets edged higher yesterday as Iran and the US prepared to hold a third round of nuclear talks, raising hopes the long-time adversaries could find a way to step back from direct confrontation.
Saudi Arabia’s benchmark index finished 0.3pc higher in a volatile session, recovering slightly from a near 2pc drop in the previous session. Al Rajhi Bank, the world’s largest Islamic lender, gained 1.3pc, reversing some losses after a sharp 2.9pc decline on Thursday, its worst in nearly five months.
Energy giant Saudi Aramco advanced 1.1pc. Trade sources reported that the company sold several shipments of ultra-light crude oil from its $100 billion Jafurah gas plant to US firms and an Indian refiner, ahead of its first export later this month.
Dubai’s main share index climbed 1.8pc, ending a two-day losing streak in a broad-based rally, led by a 3.7pc gain in blue-chip developer Emaar Properties and a 2.9pc leap in Emirates NBD Bank. Emirates Central Cooling Systems Corporation climbed 2.3pc after announcing a contract award for the design of its fifth district cooling plant in Dubai’s Business Bay.
A positive fourth-quarter earnings season, and the prospect of an easing in geopolitical tensions could strengthen investor sentiment, allowing markets to climb further, said Daniel Takieddine, Co-founder and CEO of Sky Links Capital Group.
In Abu Dhabi, the index gained 0.6pc, following two consecutive sessions of profit-taking from record highs. Abu Dhabi Commercial Bank edged 0.4pc higher, while Alpha Dhabi Holding climbed over 2pc.
Qatar’s benchmark rose 1.1pc, marking its strongest one-day gain in nearly a month, supported by banking stocks. Qatar National Bank, the largest lender in the region, climbed 2.2pc, its best daily performance since mid-October.
Outside the Gulf, Egypt’s blue-chip index climbed 2.6pc with all sectors closing in the green, buoyed by optimism after the International Monetary Fund said its board would meet on February 25 to review Egypt’s Extended Fund Facility programme, a move that could unlock $2.3 billion in disbursements.
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