Bahrain All Share Index closed at 2,031.74 points yesterday, marking a decrease of 5.27 points below the previous closing.
This decrease was due to the drop in the financial sector and the material sector.
Bahrain Islamic Index has closed at 999.38 points, marking a decrease of 6.62 points below the previous closing.
Results indicated that 56 equity transactions took place with a volume of 251,192 worth BD92,648.
Investors traded mainly in the financial sector, representing 40.93 per cent of the total value of securities traded.
Meanwhile, most Gulf stock markets fell yesterday, with the Qatar benchmark extending its decline after the country halted liquefied natural gas production amid an escalating air war in the region.
Qatar’s state-owned QatarEnergy, 82pc of whose clients are in Asia, was set to declare force majeure on its LNG shipments after Iranian drone attacks on facilities in the sprawling Ras Laffan complex.
Qatar’s benchmark index traded 0.9pc lower, pressured by a 2.5pc drop in Qatar Islamic Bank.
In Muscat, the index retreated more than 1pc in broad declines, while the Kuwaiti index reversed early losses to gain 0.6pc.
GCC sovereign wealth funds can play a pivotal role in supporting local equity markets by boosting liquidity and deploying additional capital to strengthen investor sentiment.
This is an ideal moment to channel that support through fund-of-funds structures, said Samer Hasn, senior market analyst at XS.com.
Saudi Arabia’s benchmark index rose 0.5pc, lifted by a 2.2pc climb in oil major Saudi Aramco, while petrochemical maker Saudi Basic Industries Corp, in which Aramco owns 70pc, added 3.1pc.
The Saudi energy index advanced 2.1pc. Among individual stocks, Saudi budget carrier flynas extended declines to a third session, losing 2.8pc, as air travel in the region was hit.
According to Hasn, the Saudi market is showing unexpected resilience despite the rapid and sudden spread of war, which is affecting various essential infrastructure sectors across the GCC.
“Investors appear to be banking on the hope that the conflict will not be prolonged, alongside expectations of extensive Saudi government support for the affected sectors.”
Meanwhile, UAE’s Securities and Commodities Authority said the Abu Dhabi Securities Exchange and the Dubai Financial Market would remain closed yesterday, citing its supervisory and regulatory mandate over the country’s capital markets. They were closed on Moday too.
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