Declines strike the gulf stock markets

The performance of seven Gulf bourses was very wavy this week, including the Egyptian market as in the end of the session, three stock markets managed to rise, while four other markets ended trading with a decline.

The Egyptian Stock Exchange witnessed a rise today, after the main index approached a record rate of 2% growth, followed by the Dubai Financial Market, with a growth by 0.53% index, and the Saudi market with 0.44%, followed by the Kuwaiti index registered which rose by 0.15%. On the other hand, the other four financial markets declined, the Abu Dhabi Market index registered a decline of 0.67%, followed by the Bahrain market, which felled by 0.16%, followed by Maskati index with slight decline slightly to 0.01%. 

The market value of Gulf bourses in addition to Egypt by the end of today's session reached 617.75 billion dollars, compared to about 618.21 billion dollars in yesterday's session, the market recorded losses by over $ 460 million. In addition, three stock exchanges recorded gains in the market today, led by Egypt with an increase in the market value by $ 750 million, followed by Dubai Stock Exchange by $ 460 million, and by $ 70 million.

On the other hand, four other exchanges recorded a varying market losses, the most was in Abu Dhabi by $ 1.49 billion, followed by the Qatari market by $ 190 million, then Bahrain, which suffered market losses of $ 40 million.  It is noteworthy that the total value of trading in the stock exchanges referred to last Wednesday was estimated by 342.86 million dollars, mostly concentrated in the Dubai market estimated by 92.14 million dollars, while the Bahraini market share with at least 480 thousand dollars. 

The global indicators indicated that the majority of the global markets was able to achieve growth in the first half hour, except the Italian market. Moreover, regarding to oil, the prices suffered amid a decline in US crude stocks.