On Sunday, Gulf stocks showed mixed performances as the Eid al-Fitr holiday approached, with the UAE markets and Saudi Stock Exchange entering the holiday period. In the Emirates, markets were closed until Shawwal 3, while trading in Saudi Arabia was set to resume on April 14, 2024.
In Kuwait, the general market index on the Kuwait Stock Exchange dropped by 1.05%, with the highest increases seen in Ahli, Zain, Commercial Real Estate, Human Soft, and Mizan, while Gulf B, Al Imtiaz Investments, Integrated Holding, Agility Warehousing, and Al Borsa saw declines.
The Bahrain Stock Exchange general index decreased slightly by 0.03%, with gains in Bahrain Commercial Facilities Company, Khaleeji Bank, Aluminum Bahrain, and Bank of Bahrain and Kuwait, and losses in Gulf Hotels Group, Al Salam Bank, National Bank of Bahrain, and Bahrain Telecommunications Company.
In Qatar, the stock exchange index rose by 0.96%, with the highest increases in Qatar and Oman Investment, National Leasing, Ooredoo, Inma, and Gulf International Services, and declines in Miqdam Holding Group, Mesaieed Petrochemical Holding, Commercial Bank, and Al-Faleh Educational Holding.
The Muscat Stock Exchange index in Oman increased by 0.34%, with gains in Voltamp Energy, Oman Telecommunications, SMN Power Holding, Sohar International Bank, Raysut Cement, and OQ Gas Networks, and a decline in Bank Muscat’s perpetual category bonds. Outside the Gulf region, the Egyptian Stock Exchange index fell by 1.24%, with mixed performances among different companies.
The Eid al-Fitr holiday schedule was also announced for each market, with trading set to resume after the holidays end. Additionally, online sweepstakes businesses have been gaining popularity, with various resources providing information on how to start one.