Saturday , October 16 2021

An expert in financial markets reviews the evolution of Arab stock markets over the past week



Hanan Ramses, an expert on financial markets, said that between a strong and distinguished performance in the Arab markets, led by the Kingdom of Saudi Arabia, and affected by the crises of the east and west, in terms of action of Evergrande, the Chinese real estate development giant.

And he continued: The West, with what the United States had raised about the possibility of closing some activities to curb inflation and rising debt, the Gulf markets reacted to these facts.

As for the Egyptian market, it remains a secret due to the lack of resolution of the capital gains tax controversy, which, since the announcement of its brochure, has interacted negatively with indicators and trading.

Hanan Ramses, an expert on financial markets, reviewed the performance of Arab stock markets over the past week

Financial markets of the United Arab Emirates

Over the past week, UAE financial markets have experienced mixed behavior as Dubai’s financial market has shrunk and the Abu Dhabi Stock Exchange has risen.

The general index of the Dubai financial market, during the sessions of the final week, decreased by 2.56%, losing 73 points, to close at the level of 2772 points, and the market capital lost about 10 billion dirhams to close at the level of 381.4 billion dirhams.

The Dubai Stock Exchange, the banking sector, fell 3.64%, under pressure from a fall in Ajman Bank by 1.16%, Emirates NBD by 8.54% and then the real estate sector by 0. 47%, under the pressure of a fall. in Emaar Properties 0.25%, Union Properties 3.85%.

The overall index of the Abu Dhabi Stock Exchange, during the sessions of the final week, increased by 0.14%, gaining 11 points, to close at the level of 7709 points, and the Abu Dhabi Stock Exchange gained 54 billion dirhams to close at the level of 1.394 trillion dirhams.

On the Abu Dhabi Stock Exchange, the telecommunications sector rose 1.9%, led by an increase in shares of the Emirates telecommunications group by 1.83%, followed by the real estate sector with growth of 0, 93%, driven by the increase in shares of Altar Properties by 2.23% and the Sharjah Group by 7.46%.

Saudi stock exchange

During the trading week that ended, the Saudi stock market experienced an increase in the overall index of the Saudi stock market, by 0.83%, gaining 95.57 points, to close at the level of 11,591.33 points.

The trading volume on the Saudi stock market reached 966.7 million shares, worth 39.4 billion rials, through the implementation of 2.1 million transactions, and the market capitalization gained 235.3 billion rials, to close at 10.306 trillion Saudi rials.

Eight sectors of the Saudi stock market increased, led by banks by 4.33%, followed by the energy sector by 2.32%, while the communications sector decreased by 3.32% and then the basic materials sector. 2.09%.

Muscat Stock Exchange

During last week’s sessions, Muscat’s overall market index rose 0.5%, gaining 19.68 points, to close at 3962.18 points. The trading volume amounted to 22.5 million shares, with a value of 5.35 million rials, and the market capitalization profit 64.3 million rials to reach the level of 22.067 million rials.

The increase in shares was led by “Oman Qatar Insurance” by 6.02%, followed by “Bank Muscat” by 4.93%, followed by “International Financial Investments” by 3.03%, while that the declines were led by “Dhofar International Development” by 7.56%, followed by “Dhofar International Development” by 7.56%. Oman fisheries “7.5%, followed by” national aluminum “4.76%.

Kuwait Stock Exchange

The performance of Kuwait’s stock indices varied during the last trading week, as the general market index rose 0.27%, gaining 18.68 points, to close at 6,883. 51 points, while the first market index decreased 0.24%, losing 18.05 points, to close at the level of 7478.45 points, and the main market index increased 1.92%, gaining 108.13 points, to close at 5726.80 points, and the main index 50 increased 1.33%, gaining 78.20 points, to close at 5964.68 points.

Trading volume during the week’s trading reached about 2.5 billion shares, worth 264.1 million Kuwaiti dinars, through the implementation of 72.1 thousand transactions.

Egyptian bag

The main index of the Egyptian Stock Exchange “EGX 30” increased 0.18% to close at 10,536.39 points, while the index “EGX 70 of equal weights” decreased by 2 , 2% to close at the level of 2,662.81 points and the “EGX 100” of equal weights “recorded a decrease of 1.72% to close at 3608.62 points.

And the index “Determined weights EGX 30” recorded a fall of 0.01% to close at 12884.99 points, and the Tamayuz index fell 5.8% to close at 4468.86 points .

Hanan Ramses, an expert in financial markets, expected the continuation of the accidental behavior of the indices with the presence of buying points in the stocks based on their low prices, to reach the support points again due to the fast business and the lack of demand for the formation of deep buying positions with the lack of negotiation by individuals and low trading values, to decide the capital gains tax, which is considered the deepest influence on the reluctance of dealers to negotiate, to more than stopping some dealer codes and some share cancellation operations, which caused confusion for dealers and transactions

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