Most Gulf stock markets ended lower yesterday as concerns over stalled peace talks between Iran and the US weighed on sentiment, with trade restrictions through the Strait of Hormuz still in place.
Bahrain All Share Index closed at 1,932.98 points, marking a decrease of 0.83 points below the previous closing.
This decrease was due to a drop in the industrials sector and materials sector.
Bahrain lslamic Index closed at 940.09 points, marking a decrease of 1.84 points below the previous closing.
Results indicated that 133 equity transactions took place with a volume of 2,911,278 worth BD 779,060.
Investors traded mainly in the financials sector, representing 59.48 per cent of the total value of securities traded.
With the strait effectively shut, pressure on global oil supplies pushed Brent crude back above $100 a barrel.
Saudi Arabia’s benchmark index fell 1.2pc, extending its losing streak to six sessions, weighed down by a 2.2pc slide in Al Rajhi Bank and a 1.8pc drop in the kingdom’s biggest lender by assets, Saudi National Bank.
In Qatar, the index eased 0.1pc, with the Gulf’s biggest lender, Qatar National Bank, down 1.3pc.
Abu Dhabi’s index closed 0.4pc lower, dragged down by a 2.1pc fall in First Abu Dhabi Bank, even though the UAE’s biggest lender beat forecasts with a smaller-than-expected 2pc fall in first-quarter net profit. Dubai’s main share index erased early gains to close unchanged.
Emirates NBD Bank slipped 0.1pc after the emirate’s largest lender by assets reported a 3pc rise in first-quarter profit.
Budget airline Air Arabia gained 1.2pc.
Outside the Gulf, Egypt’s blue-chip index bucked the trend to close 0.8pc higher, with Commercial International Bank rising 1.3pc.
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