Expert in financial markets: Arab stock exchanges reach historic highs and take advantage of oil

Hanan Ramses, a financial markets expert, said it was still Arab Stock Exchanges Historical highs have been reached, with the benefit of the return of high oil prices worldwide, despite America’s announcement to release stored oil reserves to meet Europe’s needs to curb the rise in oil prices.

Ramses continued to, in addition to the interest of those Arab stock exchanges in seizing promising investment opportunities in the less active markets, leverage their budgetary surpluses and invest them in alternatives that generate investments that face the high inflation rates worldwide.

Hanan Ramses, an expert in financial markets, praised the performance of Arab Stock Exchanges during the past week.

Saudi stock market

Witness Saudi stock market A rise for the fifth week in a row, in the longest rising streak in ten months, to reach its highest level since mid-2006, with gains of 307 points, or 2.3%, to close at 13,621 points , while the “MT30” index, which measures the performance of the leading stocks, rose by 35 points, or 1.9%, to close at 1923 points, and thus the performance of medium and small stocks outperformed the performance. of the leading stocks outperformed during the week, representing 13482 points of resistance as the market closed higher than it could, but the market did not perform well after exceeding it as the selling pressure increased significantly but on in the end, the market was able To face it, the market achieved, during the wave of profits for five consecutive weeks, 6%, as a number of companies rose at high rates, led by “ACWA Power” with 38 %.

The number of declining companies amounted to 109 compared to 101 companies that rose, which shows less participation of companies in the rise, which does not give a good indication of the strength of the bullish trend of the market.

On the other hand, the accumulated profit was high, which encourages traders to take profit, especially since the market’s profitability has been 20% since the beginning of the year, and this was achieved within four months.

It is noteworthy that the index has made a profit of 29% over the past year, reflecting the state of exaggeration in buying despite the lack of results for the first quarter, and the high uncertainty, given the tense conditions in Eastern Europe, in addition to the sharp high inflation in the United States. , which increases the possibility of raising interest rates that will be imposed by local monetary policy, which increases pressure on the market as it trades at high profitability and yields decline with the increase in prices.

In terms of the overall performance of the market?

The general index opened at 13314 points this week as it was heading for the highest point of the week at 13,680 points, with increases of 2.7%, and at the end of the week it closed at 13621 points, with 307 points or 2.3% profit. , and trading values ​​increased by 3.5% by about 1.8 billion riyal to 53 billion riyal, while traded shares increased by 9% by about 87 million shares to reach one billion shares, while transactions by 7% with about 174 thousand transactions have dropped. reached 2.1 million transactions.

And about disease sectors

Six sectors declined against the rise of the rest. The decline was led by “long-term commodities” 1.9%, followed by “investment and finance” 1.5%, and “basic materials” 1.5%.

The increase was led by “property management and development” 5.7%, followed by “banks” 5.2%, and “media and entertainment” 4.1%.

The highest turnover was “basic materials” 27% with a value of 14.5 billion riyal, followed by “banks” 27% with a value of 14.2 billion riyal, and “food retail” 6% with a value of three billion riyal.

stock performance

The rise was led by “Investment” 19% to close at 23.20 riyal, followed by “Al-Lujain” 16% to close at 79 riyal, and “Al-Bilad” 15.6% to close at 56.40 riyal.

The decline was led by “Saudi Cables” 14% to close at 15.70 riyal, followed by “Misk” 7.8% to close at 15.68 riyal, and “Shaker” 7% to close at 19.90 riyal.

The highest turnover was “Al-Rajhi” with a value of 3.9 billion riyal, followed by “AMAC” 3.5 billion riyal, and “Al-Ahly” 3.1 billion riyal in third place.

UAE financial markets

The UAE’s financial markets indices closed this week’s trading in contrast, with the Dubai Financial Market reaching a new record level for the fourth consecutive week, recording its highest weekly close in more than 4 years, while the Abu Dhabi Stock Exchange index fell to its record highs.

It performed Dubai Stock Exchangewith the continued optimism of investors about the economic development of the emirate, while the Abu Dhabi index ended the week’s transactions stable.
The Dubai Stock Exchange Index rose 0.5%, supported by a jump of 14.7% in Mashreq Bank shares, after its Oman Insurance unit agreed to cash dividends with a total value of 92.4 million dirhams ($ 25.16 million) for the fiscal year to be ended. in December 2021.

The Dubai index achieved its fourth weekly increase. Among the winning shares was the share of the Dubai Electricity and Water Authority, which was floated on the stock exchange for the first time on Tuesday, and the share rose by 4.4%, and in Abu Dhabi the index compensated for its losses earlier in the session and The bank on Thursday withdrew its offer to buy a controlling interest in the Egyptian investment bank, EFG Hermes, and the deal with the Egyptian group, Hermes, would have given the largest UAE banks the opportunity to carry out the activities of the Egyptian Investment Bank in the Middle East and North Africa.

The Dubai Financial Market recorded gains of approximately 148.9 billion dirhams during the week, coinciding with the start of the listing of the Dubai Electricity and Water Authority “DEWA”, while the Abu Dhabi Stock Exchange recorded gains of approximately 20 billion dirhams has.

At the end of this week’s trading, the Dubai Financial Market Index rose 1.69% to the level of 3601 points, compared to about 3541 points the previous week.

The banking sector came up with a rise of 2.60%, which coincides with a decline in the Emirates National Dubai share by 1.02%, Dubai Islamic Bank by 2.96%, Commercial Bank of Dubai by 2.96 % and Al Salam Bank with 1.96%.

The real estate sector rose by 2.54% for the sixth week in a row, coinciding with the rise of Emaar Properties 2.69%, Union Properties 6.91%, Deyaar Development 1.49%, and Emaar Development 2%.

The market value of Dubai shares recorded 584.267 billion dirhams at the end of the week, compared to about 435.346 billion dirhams the previous week, with losses amounting to 148.921 billion dirhams.

As for the Abu Dhabi Securities Exchange, it has fallen by 1.5% from last week to 9,943 points, compared to about 10,095 points the previous week.
This came amid an increase in the shares of Aldar Properties by 4.92%, the International Holding Company 8.34%, Al Fathby Holding 0.45, the Multiplay Group 3.51%, Al Waha Capital 7, 27%, Farglobe 1.06%, and Dana Gas 0.83%, while the market value of Abu Dhabi shares reached 1.845 trillion dirhams at the end of the week, compared to a value of 1.825 trillion dirhams the previous week, with weekly profits of about 20 billion dirhams.

Kuwait Stock Exchange

continued Kuwait Stock Exchange The rise for the third consecutive week, with the continued decline in trading levels compared to previous weeks.

This week, the main index recorded a growth of the highest rate, at 2.53%, at 6558.73 points, compared to 6397.02 points last week’s close, with increases of 161.71 points.

“Main 50” also rose by 1.76% to reach the point of 6702.53, which gained about 116 points, compared to the previous week’s close at the level of 6586.59 points.
The First Market Index rose about 0.09% and closed at 9174.19 points, up 7.81 points, compared to last week’s close at 9166.38 points.

The weekly overall score for the general index was positive, with an increase of 0.62%, or 51.58 points, to close at 8312.59 points, compared to the previous week’s close at 8261.69 points.

At the level of the week, the Kuwaiti Stock Exchange’s liquidity decreased by 6.4% to KD 318.46 million, compared to KD 340.29 million in the previous week.

Weekly trading volume also declined by 11%, reaching 988.11 million shares, compared to 1.11 billion shares last week.
The number of total transactions during the week reached 61.32 thousand transactions, compared to 58 548 thousand transactions in the previous week, with an increase of 4.7%.

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