Hanan Ramses, an expert in financial markets, said that it is still Arab stock exchanges It interacts positively with the rise in oil and gas prices, but some markets have entered the profit-taking stage to test the record points they have reached, which made some Arab countries’ indices rise to the highest level in their history.
Hanan Ramses, an expert in financial markets, reviewed the performance of Arab indices in a week, which was characterized by divergence following reaching major resistance areas.
Saudi Stock Exchange
The Saudi stock market ended its weekly trading in the red, to regain its losses, in light of the divergence of its main sectors, amid the decline in liquidity compared to last week.
The Saudi stock market witnessed a decline in the general index of the market “TASI” by 0.57%, during the week ending March 10, losing 72.15 points from its value, to fall to the level of 12,684.16 points, compared to 12,756 points in the previous week.
The market losses during the week amounted to regarding 625.1 billion riyals, which fell in the market capital of the shares listed in “Tadawul” to 11.455 trillion riyals, compared to 12.08 trillion riyals, at the end of last week.
The general index declined, in light of the decline in 10 sectors, led by the energy sector, with a decline of regarding 6%, and the banking sector, with a decline of 0.91%.
The rest of the sectors witnessed a positive performance, led by the telecommunications sector, which rose 0.72%, the basic materials sector rose 0.27%, and the public utilities sector recorded the highest gains following rising 5.72%.
The “Arabia” share recorded the highest losses during the week, following falling by 7.43%, and the biggest gains were for the “Exports” share, which rose 12.21%.
The trading movement declined during the week ending on March 10, at all levels, compared to its levels during the week ending on March 3.
Trading values amounted to regarding 55.9 billion riyals, compared to regarding 59 billion riyals during the previous week, a decrease of 5.3%.
Trading volumes decreased by 6.79% to reach 1.26 billion shares, compared to 1.35 billion shares traded last week.
The “Saudi Aramco” share dominated the stock activity at all levels, with a trading volume of 130.03 million shares, with a value of 5.69 billion riyals.
At the parallel market level, the “High Limit Growth” index ended its weekly transactions, with a marginal increase of 0.09%, with gains of 22.34 points, which rose to the level of 24,789.36 points.
Parallel trading values fell to 555.66 million riyals, compared to regarding 615 million riyals in the previous week, and quantities fell to 5.95 million shares, compared to 7.04 million shares last week.
Kuwait Stock Exchange
The main indices of the Kuwait Stock Exchange varied during this week’s trading, with an increase in the market value of shares, and a growth in trades, which is due to the record rise in oil prices, and the possibilities of raising the relative weight of Kuwaiti shares in global indices.
The main indicators of the Kuwait Stock Exchange varied during this week’s trading, with an increase in the market value of shares, and a growth in trading, which is due to the record rise in oil prices, and the possibilities of raising the relative weight of Kuwaiti shares in global indices.
The Main Market Index 50 declined by 1.89% to close this week’s trading at 6552.76 point, losing 126.42 points from the level of the previous week.
The main market index decreased by 0.16% at 6341.45 point, to lose 10.20 points from its level in the week ending March 3, 2022.
On the other hand, the Premier Market Index jumped by 1.82%, ascending to the point 8756.23, to gain 156.84 points from last week.
The weekly outcome of the general index was positive, as it closed at the point 7957.59, up 1.36% from its level the previous week, equivalent to 107.01 points.
The market value of Kuwaiti shares recorded 47.449 billion dinars, an increase of 1.34% from its level of 46.822 billion dinars in the week ending March 3, 2022.
Significant increase in trading
Trading witnessed a collective growth this week, as last week’s trading was limited to only two sessions; The Stock Exchange closed its trading on Sunday, Monday and Tuesday, in celebration of the National Day and Liberation Day.
The value of trading on the Kuwaiti Stock Exchange this week amounted to 334.78 million dinars, compared to 207.44 million dinars in the previous week, a growth of 61.39%.
Trading volumes rose this week by 92.45% to 1.32 billion shares, noting that it was 685.27 million shares last week.
As for the number of executed deals this week, it reached 63.12 thousand deals, an increase of 100.08% over its level in the previous week at 31.55 thousand deals.
UAE financial markets
At the close of trading, the Dubai Financial Market rose by 0.59 percent, to the level of 3,402 points.
And there were transactions on Dubai shares with a volume of 94.161 million shares, with a value of 244.704 million dirhams.
This came amid an increase in the Dubai Financial Market by 2.27%, Dubai Investments by 2.13 percent, Emaar Properties 1.5%, and GFH Financial Group by 1.70%.
The Abu Dhabi Securities Exchange index rose by 0.31% to the level of 9635 points.
And there were transactions on Abu Dhabi shares with a volume of 198.692 million shares, with a value of 1.520 million dirhams.
This came amid an increase of Agthia Group by 0.44%, Aldar Properties 0.69 percent, Alpha Holdings 0.59 percent, Dana Gas 1.79%, and First Abu Dhabi Bank 0.45%.
The expert in the financial markets expected the return of rises in the Arab stock exchanges during the next week’s session, called for the season of announcing business results, in which many Arab countries achieved a remarkable and even record rise.
