The Bahrain Bourse witnessed a dynamic week of trading, with the Bahrain All Share Index closing at 1,952.45, an increase of 1.51 per cent (29.07 points) from the previous week’s close on September 18.
The Bahrain Islamic Index also performed well, rising by 2.05pc (18.42 points) to close at 918.63.
Market activity saw a total of 10,313,295 shares traded, with a total value of BD2,482,195. These transactions were executed through 390 deals. Compared to the previous week, trading volume increased from 8,928,901 shares, while the number of transactions decreased from 438.
The financial sector dominated trading this week, securing the top spot with a total trading value of BD1,634,857. This represented a significant 65.86pc of the total value traded on the bourse and involved 8,379,494 shares through 243 deals. The telecommunications sector came in second place, with a trading value of BD319,604, accounting for 12.88pc of the total.
On a company level, GFH Financial Group was the most traded by value, with its shares amounting to BD962,515, or 38.78pc of the total trading value. This was executed through 69 transactions.
Al Salam Bank followed in second place with a value of BD339,581 (13.68pc of total value), while Beyon was third with BD273,164 (11.00pc). The top five most-traded companies by value also included Alba and National Bank of Bahrain (NBB).
Over the five trading days, investors traded the shares of 27 companies. The share prices of 8 companies increased, 5 decreased, and the remaining companies maintained their previous closing prices.
The daily average trading value for the week was BD496,439, with an average daily volume of 2,062,659 shares and 78 transactions.
Among the sectoral indices, the materials sector saw the largest change, rising by 6.35pc (248.09 points). Other notable gains were seen in the real estate index, which rose by 1.68pc (39.77 points), and the financial index, which increased by 0.68pc (51.07 points).
Meanwhile, the Bahrain All Share Index closed yesterday at 1,952.45, marking an increase of 4.01 points from its previous close. In contrast, the Bahrain Islamic Index closed lower, at 918.63, with a decrease of 0.21 points. The day’s trading saw investors execute a total of 96 transactions.
Market activity was robust, with a total of 3,445,674 shares traded, amounting to a total value of BD701,572. The financial sector was the main focus for investors, accounting for 74.14pc of the total trading value, with BD520,156 in shares traded. This included 3,050,503 shares transacted through 65 deals.
GFH Financial Group topped the list of most-traded companies by value, with its shares amounting to BD339,714.30. This represented 48.42pc of the total trading value. A total of 1,901,791 shares were traded for GFH across 11 transactions.
Al Salam Bank came in second place, with shares valued at BD95,769.23, making up 13.65pc of the total value. The bank’s shares traded at a volume of 436,351 through 22 deals. Alba secured the third position, with its shares valued at BD92,833.92, which represented 13.23pc of the total value. Alba saw 103,105 shares traded across 15 transactions.
A total of 19 companies had their shares traded during the day. Out of these, the share prices of four companies increased, while one company saw its share price decline. The remaining companies maintained their previous closing prices.
The Saudi stock market edged lower yesterday as investors locked in profits from the previous day’s strong rally, driven by news of potential reforms to foreign ownership rules, while markets in UAE and Qatar extended losses on broad weakness.
Saudi’s benchmark index slipped 1pc, retreating from its largest single-day gain in over five years recorded on Wednesday.
However, the gauge notched a third straight weekly rise, bolstered by strength in financial stocks. The Saudi markets regulator is considering lifting the current 49pc cap on foreign ownership of listed companies, “a move that could unlock over $10 billion in foreign inflows and prompt MSCI to raise the Foreign Inclusion Factor for Saudi stocks,” said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group.
Shares of Saudi Aramco declined nearly 3pc. Aramco’s talks to acquire a minority stake in Spanish energy firm Repsol’s renewables unit has hit an impasse over a potential 1bn euro ($1.2bn) investment, two sources familiar with the matter told Reuters. Index heavyweights Saudi Telecom and SABIC fell 4.2pc and 4.1pc, respectively.
However, the market’s outlook appears optimistic, driven by robust momentum in the non-oil private sector, though oil price volatility continues to weigh on sentiment, according to Milad Azar, market analyst at XTB Mena.
Dubai’s main share index erased early gains to close down 1pc for the third straight session. Emaar Properties fell 1.5pc, extending its losing streak, while banking stocks like Dubai Islamic Bank and Emirates NBD Bank dropped 1.6pc and 1.2pc, respectively.
Abu Dhabi’s index also surrendered early advances, ending the session 0.3pc lower, weighed down by a nearly 1pc decline in Aldar Properties. Shares of Space42 fell 1.6pc after announcing a partnership with Dynamic Map, a unit of Japan’s Dynamic Map Platform, to supply HD Map Data for General Motors’ Super Cruise in the UAE.
Abu Dhabi National Oil Company’s (ADNOC) international investment arm, XRG, announced the acquisition of an 11.7pc equity stake in Phase 1 of the Rio Grande LNG project, marking its first US gas investment. Additionally, ADNOC signed a 20-year LNG offtake deal for 1.9 million tonnes per annum from Rio Grande LNG Train 4.
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