A financial markets expert reveals the performance of Arab stock exchanges ahead of the Eid al-Adha holiday

Hanan Ramses, an expert on financial markets, said that the declines were the most common feature of the Arab markets, during the first week in July, the third quarter and the second half of the year, since the week on the Eid al- Adha follows. holiday, which in some Arab countries extends to a full week of trade.

Hanan Ramses continued that this has led to a contraction in trade values, because global markets will be open while Arab markets are disrupted, and there are many fears on the scene, such as fears of a worsening of the Russian-Ukrainian crisis in the lifting of the US embargo and the tightening of the noose around America’s allies.

Hanan Ramses, an expert on financial markets, reviewed the performance of the Arab stock exchanges during the week ended as follows.

Kuwait Stock Exchange

The First Market Index fell by 0.21%, equivalent to 17.68 points, to close this week’s trading at a point of 8225.48, from the level of the previous week ending on June 30, 2022.

The world market index closed at the point 7395.12, down 0.18%, estimated at 13.45 points, from last week’s level.

The main index also fell by 0.06% to end the week at 5677.23, while the main 50 index rose marginally by 0.02% to end the week’s trading at 5894.72.

As for the market value of shares, it reached 4.915 billion Kuwaiti dinars at the end of trading, compared to 44.005 billion dinars last week, a decrease of 0.20%.

The performance of the listed sectors varied

In the Kuwait Stock Exchange, which counted 13 sectors, 8 sectors declined, while the performance of 4 sectors increased, and financial services alone established.

Trades declined by a group during the week, as trading volumes fell by 29.27% ​​to 836.46 million dinars, compared to 1.18 billion dinars in the previous week.

The stock market recorded weekly trading of 258.17 million dinars, compared to 297.79 million dinars last week, down 13.30%.

The number of transactions executed this week reached 52.24 thousand transactions, down 14.19% from the level in the previous week, which amounted to 60.88 thousand transactions.

UAE financial markets

The difference dominated the performance of the market indices, as the Dubai Financial Market recorded gains of around 196 million dirhams during the week, and the Abu Dhabi Stock Exchange recorded losses of around 113 billion dirhams.

At the end of this week’s trading, the Dubai Financial Market index ended its trading with a decrease of 2.92 percent, to reach the level of 3108 points, compared to about 3,201.81 points the previous week.

The banking sector came in with a fall of 6.97 percent, coinciding with a drop in Dubai Islamic Bank shares of 5.73 percent, Emirates NBD Bank 10.23 percent and Ajman Bank 1.55 percent.

The real estate sector fell by 1.41 percent, coinciding with declines in Emaar Properties by 1.15 percent, Emaar Development by 3.3 percent and Deyaar Development by 2.16 percent.

The market value of Dubai shares recorded 524.739 billion dirhams at the end of the week, compared to about 524.543 billion dirhams the previous week, with gains of 196 million dirhams.

The Abu Dhabi Securities Exchange fell 1.3 percent to 9,161 points, compared with around 9,282 points the previous week

This came amid declines of 2.34 percent for First Abu Dhabi Bank, 9.58 percent for Affabeh Holding, 1.11 percent for Multiplay Group, 2.02 percent for Aldar Properties, 8.26 percent for Dana Gas and 12.03 percent for Waha Capital.

While the market value of Abu Dhabi shares reached 1.868 trillion dirhams at the end of the week, compared to a value of 1.981 trillion dirhams the previous week

Saudi Stock Exchange

The Saudi market ended the week’s trading since last Wednesday’s session, due to the Eid Al-Adha holiday

The week’s trading was limited to only four sessions

The general index of the market TASI fell by 0.93% during the week, with losses amounting to 106.71 points, bringing it to the level of 11,416.54 points, compared to 11,523.25 points last week .

Market losses totaled 208.39 billion riyals, bringing the market value of Tadawul-listed stocks to about 11.24 trillion riyals, compared with 11.44 trillion riyals at the end of last week.

The color red dominated the performance of the sectors, led by the basic materials sector, which fell by about 4%, and came second in the list of decliners, and the energy sector fell by 2%.

Nine sectors saw positive performance, led by the banking sector, which rose 0.34%, and the telecom sector recorded a weekly increase of 0.52%.

Trading values ​​fell during the week to 17.49 billion riyals in 4 sessions, 29.27 billion riyals last week, bringing the average value down to 4.37 billion riyals per session, compared to 5.85 billion riyals last week.

Trading volumes decreased by 548.1 million shares in 4 sessions, compared to 838.1 billion shares last week, with an average volume of about 137 million shares, compared to 167.6 million shares, the average trading volume last week.

At the parallel market level, it saw negative performance during the week as the upper limit growth index fell by 1.6 percent, with losses amounting to 346.78 points, taking it to the level of 21,238.3 brought points.

Parallel trading values ​​fell to 91.08 million riyals in 4 sessions, by 1.6 million shares, compared to 165.1 million riyals, with 2.75 million shares traded in the previous week.

Also read:

Financial market expert: June is the worst month for Arab stock exchanges in 20 years

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