Hanan Ramses, an expert on financial markets, said the performance of Arab markets has seen a state of variation over the past week.
“We hope that the performance of the indicators will improve, supported by internal economic news, but with a slow rise due to external events that are still burning and inflation rates are constantly accelerating,” Ramses said.
Hanan Ramses, an expert on financial markets, reviewed the performance of the Arab stock exchanges over the past week.
Saudi Stock Exchange
The Saudi stock market experienced a decline, despite the inability of its indices to break the resistance areas it crossed in March, but the weekly performance has compensated for much of the losses of recent weeks.
Despite the declines in the market value of shares listed in the Saudi market, some 87.85 billion riyal fell to 12.02 trillion riyal, compared to 12.1 trillion riyal, at the end of last week.
The Saudi Aramco share experienced a negative performance during the week, down 1.23% at the level of 40.20 riyal, bringing the market capital of “Aramco” to 8.84 trillion riyal .
The rise in the general index of the Saudi market was supported by the positive performance of 12 sectors, led by “banks”, which violated the performance of the major sectors, to rise 1.6 percent, and the real estate sector has the highest gains recorded after rising by 5.67%.
The rest of the sectors turned red, led by the “media” sector, which fell by 2.13%, the energy sector fell by 1.1%, and the losses of the communications and basic materials sectors, respectively, 1 .07% and 0.79%. .
In terms of stock performance, “Amanah Insurance” was at the top of the winning shares, with a rise of 30.5%, and the highest losses were for “Suleiman Al Habib” share, which fell by 7.19%.
“Al-Rajhi” share was the most active, with a value of about 4.5 billion riyal, and “Dar Al-Arkan” share recorded the highest amounts with 166.24 million shares.
Trading in the Saudi stock market fluctuated during the week compared to the previous week, as trading values increased by 10.75% to about 47.5 billion riyals, compared to about 42.87 billion riyals last week.
On the other hand, trading volumes fell to 1.13 billion shares, compared to 1.47 billion shares traded last week.
At the parallel market level, the (Bean Limit Growth) index recorded an increase of 2.57% during the week, with increases amounting to 572 points, which brought it to the level of 22 844.08 points .
Trading values in the parallel market rose to about 179 million riyals, compared to 124.57 million riyals last week, and volumes rose to 2.5 million shares, compared to 1.3 million shares in the previous week.
Kuwait Stock Exchange
The Kuwaiti Stock Exchange saw a positive performance this week, after 3 consecutive weekly declines, which coincided with an improvement in trading and the market value of shares, supported by the implementation of the review of the Morgan Stanley Emerging Markets Index “MSCI” .
The “top 50” led the Kuwaiti indices’ weekly gains of 1.96%, or 122.42 points, to close this week’s trading at 6372.36 points.
The leading market index rose by 1.78% to 8 589.53 points to gain 150.18 points from the level of the previous week ending 26 May 2022.
This was followed by the general index, which closed the week’s sessions at the point 7765.29, an increase of 1.75%, estimated at 133.27 points.
The overall weekly outcome of the main index was positive, with a growth of 1.63%, equating to 97.50 points, to close at 6080.08 points.
The market value of shares at the end of trading today recorded 45.139 billion dinars, an increase of 1.72% from its level at the end of the previous week, which amounted to 44.375 billion dinars.
The stock market’s trading agrees with the performance of its main indices to also rise collectively, as trading volumes rose by 29.99% to 1.569 billion shares this week, compared to 1.207 billion shares last week.
The Kuwaiti Stock Exchange recorded weekly trading of 461.19 million riyals, compared to 380.39 million dinars in the week ended May 26, 2022, an increase of 21.24%.
The number of transactions executed in the current week reached 81.22 thousand transactions, an increase of 0.78% over its level in the previous week, which amounted to 80.59 thousand transactions.
UAE stock market
Although the UAE markets tried during the week to reach the main resistance areas, trade was affected by the performance of global markets and OPEC Plus’ decision to increase production, which negatively affected oil prices.
The Abu Dhabi market index continued its decline for three consecutive sessions during the week, dropping 0.26% to 9800 points at the end of the week’s trading session, under pressure from the major stocks.
The value of trading in the Abu Dhabi market amounted to 21.24 billion dirhams, and the Abu Dhabi plastic creditor, Borouge Ltd, jumped 22.4% in its first session in the Abu Dhabi market, holding the shares in terms of values and trading volumes.
At the end of Friday trading
Borouge’s share rose to a record 3 dirhams, compared to 2.45 dirhams at the price of the stock offer, which attracted 1.1 billion dirhams of transactions, which traded the shares at the top in terms of trading value, roughly the half of the market’s liquidity, with a trading volume of 376.82 million shares.
The performance of the market came with the decline of First Abu Dhabi share by 0.98%, and Affabeby fell by 0.71% while Global Holding rose by 0.36%.
Shares of the Multiplay Group rose by 2.66%, while ADNOC Distribution fell by 0.48%, and Ishraq by 2.18% and Virtglobe by 3.47%.
Borouge was at the top of the shares in terms of trading value, with about 1.1 billion dirhams, followed by Global Holding with a value of 357.167 million dirhams, then First Abu Dhabi with a value of 186.96 million dirhams, while Borouge the shares at the top of the shares in terms of trading volumes. with 376.82 million shares.
Palms Sports led the Abu Dhabi market’s gains by 13.44%, while IDC lifted the falling shares by 9.97%, following the record highs it achieved during the week, which reached more than 150% last week in the first trading sessions.
The Dubai market did not escape declines during the week’s sessions, despite the presence of two sessions in which the index rose to around 3500.
But it soon lost it due to pressure from the banking sector, of which two banks account for more than 40% of the index’s weight
The Dubai Financial Market Index fell 0.27% at the end of the week’s sessions to 3386 points, under pressure from 15 shares that fell.
Trading values and volumes declined as the value of trading on the Dubai Financial Market during the week’s trading amounted to 152.76 million dirhams, with a trading volume of 74.55 million shares, through 3.72 thousand transactions.
The market performance came in line with the banking sector index which fell by 0.3% while the real estate sector fell by 0.55% and the investment sector index rose by 0.03%.
In terms of real estate shares in the Dubai market, Emaar Properties fell by 0.34%, while Deyaar Development fell by 0.48% and Union Properties by 2.23%.
The performance of the banking sector coincided with the decline of Dubai Islamic by 1.16%, while Emirates NBD rose by 0.36%.
The performance of the market coincided with the decline of the Dubai market share by 0.92%, while GFH fell by 1.77% and Diwa by 0.39%.
The Takaful Emirates share led the rising shares in the Dubai market by about 8.33% while the Dubai Refreshments share issued the falling shares by 10%.
Emaar shares were at the top of the shares in terms of trading value by 28.82 million dirhams, followed by Dewa shares with about 19.8 million shares, and Union Properties shares held the shares in terms of trading volumes by 14.52 million shares.
During trading, 14 stocks rose, 15 stocks fell and 3 stocks stabilized.
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