Variability in Gulf stock performance, with Saudi index climbing 1.58%

Stocks in the Gulf Cooperation Council countries performed positively on Monday. In the UAE, both the Abu Dhabi and Dubai market indices saw an increase. The Abu Dhabi market index rose by 0.621% to 8,917.61 points, while the Dubai Financial Market Index also rose by 0.38% to 3,993.03 points.

In Saudi Arabia, the main market index on the Saudi Stock Exchange, “TASI,” rose by 1.58% to 11,808.25 points. The highest increases were seen in Research and Media, Atheeb Communications, Takaful Island, Jabal Omar, and Taiba. On the other hand, some of the decliners included Pharmaceutical, Astra Industrial, Aqua Power, Misk, and Aldrees.

In Kuwait, the general market index fell by 0.57% to 7,025.56 points. Some of the highest increases were observed in MK Holding, Joint Stock, Nabisco, Fundamentals, and Factor. Conversely, the largest decline was in Al-Imtiaz, Al-Masaken, Al-Khaleeji, Al-Jazeera, and Al-Nakheel.

The Bahrain General Index rose by 0.18% to 2,037.24 points, with increases seen in Esterad Investment Company, Inovest, GFH Financial Group, Aluminum Bahrain Company, and Bank of Bahrain and Kuwait. Qatar also saw an increase in its stock exchange index by 0.25% to 9,408 points, with gains in Medical Care Group, Qatar Islamic Insurance, Qatar Islamic Bank, Ooredoo, and Barwa Real Estate.

The Muscat Stock Exchange index in the Sultanate of Oman fell by 0.25% to 4,821,447 points. Some of the highest increases were seen in SMN Power Holding, Muscat Desalination City, The Pearl Real Estate Investment Fund, Dhofar International Development and Investment, and Ominvest Perpetual Bonds. On the other hand, declines were observed in A’Saffa Foods, Al Sharqiya Investment Holding, Al Suwadi Energy, Al Batinah Energy, and Omani Mills.

Outside of the Gulf region, the Egyptian Stock Exchange index “EGX 30” fell by 0.13% to 26,834.47 points.