Eight Gulf shares saw a rise of more than 25% during the month of April, coinciding with the openness of risk appetite among traders in light of the rise in oil prices, giving them more stability and attractive indicators for international funds, which are declining. their investments in global markets due to increased concerns about The repercussions of the Russian-Ukrainian crisis.
Last month, the main index of the Saudi market “TASI” recorded its fifth monthly rise in a row by 4.9% to reach its highest level in 16 years, and the first index of the Kuwaiti stock exchange rose by 3% to its highest level ever, and the Qatar Stock Exchange Index rose slightly with a Monthly Rate estimated at 0.4%, while the Bahrain and Muscat Stock Indices fell slightly.
Over the past month, the list of the Gulf’s highest-earning shares has been the share of Kuwait’s Seven Company, which rose 47.6%, attracting transactions worth 30.68 million dinars, with a trading volume of 38.9 million shares, which coincides with the awarding of several new tenders. , in particular the tender for a 5-year project of the Ministry of Electricity, Water and Renewable Energy with a value of 4.09 million Kuwaiti dinars. .
The share of Kuwait National Mobile Telecommunications (Areed) increased by 32.4% during the month of April, attracting transactions worth 7.49 million dinars, with a trading volume of 7.08 million shares, which coincides with its announcement of an increase in its profit in the first quarter of this year by 757% year-on-year, to reach 8.43 million Kuwaiti dinars This is due to the improvement in operating and financial income and its focus on cost reduction .
The shares of Alam Company, affiliated with the Saudi Sovereign Public Investment Fund, jumped 28.73% during April, attracting 4.48 billion riyal liquidity and a trading volume of 19 million shares after revealing that it ‘ achieved an increase in its net profit. during the first quarter of 2022 by 47.9% to reach about 250 million rial. compared to 169 million rial during the comparative quarter of 2021, supported by a 41.2% increase in revenue in three sectors, namely “digital business, business attribution solutions, and professional services.”
The shares of Saudi Investment Bank “Istithmar” rose 27.5% in April, attracting 1.1 billion riyals of trading, with a trading volume of 51.47 million shares, with Capital Intelligence raising its credit rating due to its good operating profit, net interest and stable income, in addition to the net profit corresponding to the allocation ratio. .
In April, the shares of the Great Factories Company for Mining “AMAC” rose by 27.08%, attracting transactions worth 10.42 billion riyals, with a trading volume of 97.85 million shares in conjunction with the receipt of the proceeds from its initial subscription last March, valued at 594.8 million riyal, in addition to the increase in its profit in the first quarter.This year it increased by 122%.
Last month, the shares of the Arab National Bank, which is also listed on the Saudi market, rose 26.8%, attracting transactions worth 954.14 million riyals, with a trading volume of 30.64 million shares, in conjunction with the announcement of an 11.7% increase in its earnings in the first quarter of this year.
Sultanate of Oman
In the Muscat Securities Market, the Omani Fisheries share reached the top winners last month, with a rise of 25.56%, which attracted trades worth 1.047 million riyal, with a trading volume of 9.8 million shares, which coincides with the completion of the requirements to increase its capital by private subscription to complete its agreement with Aqua Holding Company, which will enter as a major shareholder.It has a rate of 31.3%.
The Al-Batinah Development share also rose by 25.01 percent, attracting 5.45 thousand riyal transactions during April last year, with a trading volume of 109.25 thousand shares.
On the Qatar Stock Exchange, the gains were led by Al-Mannai Complex, but by less than 25%, as it recorded a monthly increase of 11.13%, with a value of 211.95 million riyals, with a volume of 22.48 million shares. with a trading volume of 26.86 million shares.
Equity analyst Mohamed Atta pointed out that economies are still trying to recover in the midst of the current crisis, but the rise in oil prices supports positive expectations about the region’s oil-producing countries, while the consumer countries in the region are facing a clear slowdown in the economy. stare. .
He pointed out that there are a number of factors that could lead to a decline in some regional markets in the first weeks of May, namely the continuation of the strict monetary policy of the global reserve currency, in addition to the increasing disruption of supply chains which is escalating as a result of the Russo-Ukrainian war.
In turn, Ismat Yassin, Director of Individual Trading at Ostool Capital Securities Brokerage Company, confirmed that the US Federal Reserve’s increase in interest rates to reduce spending and rationalize consumption could affect some stock markets in the region, as the rise in interest rates lead to more accumulation of liquid funds in risk-free savings. strong liquidity, which will lower their share prices regardless of the results of their business.