The Bahrain Bourse (BHB) All Share Index closed lower yesterday, dipping by 2.01 points to finish the day at 1,966.15.
The Bahrain Islamic Index also experienced a decline, closing at 943.84 after falling 1.93 points.
Trading activity was focused, with total volume reaching 1,662,949 shares executed across 92 deals. The total value of shares traded amounted to BD524,746.
The financial sector dominated market activity, accounting for 51.74 per cent of the total trading value, with shares worth BD271,492 exchanged.
Alba was the most actively traded company by value, topping the list with BD180,130.65 exchanged, representing 34.33pc of the total trading value.
Al Salam Bank followed in second place, contributing BD123,118.92, or 23.46pc of the total value.
GFH Financial Group secured the third spot with shares valued at BD88,849.48, making up 16.93pc of the total market value.
Out of the 13 companies whose shares were traded during the session, three saw their share prices rise, five declined, and the remainder maintained their previous closing prices.
Most stock markets in the Gulf ended lower yesterday, unsettled by the US government shutdown and economic uncertainty, although prospects of further US Federal Reserve rate cuts and rising oil prices limited losses.
Dubai’s main share index dropped 0.2pc, with toll operator Salik Company losing 1.5pc. In Abu Dhabi, the index eased 0.1pc.
Saudi Arabia’s Tadawul All Share Index rose yesterday, gaining 76.61 points, or 0.66pc, to close at 11,605.20.
The total trading turnover for the main index stood at 6.22 billion Saudi riyals ($1.66bn), with 307.7 million shares traded. A total of 149 stocks advanced, while 97 declined.
The kingdom’s parallel market Nomu also edged higher, climbing 64.55 points, or 0.25pc, to 25,540.27, with 41 gainers and 52 losers.
Meanwhile, the MT30 index, which tracks the performance of the top 30 companies by market capitalisation, advanced 12.8 points, or 0.85pc, to 1,514.75.
The Power and Water Utility Co. for Jubail and Yanbu was the top performer of the day, with its share price rising 9.97pc.
Other notable gainers included Saudi Reinsurance, which increased 6.83pc, and Saudi Arabian Mining, which gained 4.62pc.
Saudi Automotive Services also advanced 4.45pc, while Saudi Aramco Base Oil Company climbed 4.36pc.
Oil prices – a key catalyst for the Gulf’s financial markets – rose more than 1pc after Opec+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains.
Market participants likewise evaluated President Donald Trump’s blueprint for concluding the two-year-old Gaza war, seeking relief from persistent geopolitical strains.
The Qatari index declined 0.3pc, hit by a 1.5pc fall in Qatar Gas Transport. US Federal Reserve Governor Stephen Miran pressed for an aggressive rate-cut trajectory again on Friday, citing the impact of the Trump administration’s economic policies.
Investors are now pricing in a 25-basis-point cut at the Fed meeting this month, with an additional 25-bp cut anticipated in December. The Fed’s stance carries heavy clout in the Gulf, where most currencies are pegged to the US dollar, anchoring regional monetary policy.
Outside the Gulf, Egypt’s blue-chip index fell 0.3pc, stepping back from record highs.
Major global stock indexes edged higher, with technology shares getting a boost after news that AMD signed an AI chip-supply deal with OpenAI, while the Japanese yen and euro weakened against the dollar after Japan’s ruling party elected a new leader and France’s new government quit.
Bitcoin stayed near its record high yesterday, with investors increasingly turning to alternative assets as a store of value as the US government shutdown kept investors uncertain. The cryptocurrency was last up 1.61pc at $124,755.87.
The euro was down 0.2pc at $1.1717. The yen also declined after Japan’s ruling party picked conservative Sanae Takaichi, putting her on course to become the nation’s first female prime minister.
On Wall Street, the S&P 500 and Nasdaq rose while the Dow was slightly lower, as the US federal government shutdown, which began last week, dragged on. The S&P 500 finished last week at a record closing high.
Most other major share markets around the region were closed for holidays, including mainland China, South Korea and Taiwan.
Gold surged to an all-time high above $3,900 per ounce, helped in part by the economic and political uncertainty in the US, France and Japan. Spot gold rose 1.83pc to $3,957.25 an ounce.
US crude rose 1.3pc to $61.67 a barrel and Brent rose to $65.47 per barrel, up 1.46pc on the day.
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