4 Gulf stock markets closed higher on Sunday, amid the tendency of the majority of traders to seize opportunities in major stocks with strong financial foundations, with the start of the quarterly results marathon, in addition to the return of international oil prices to rise and exceed the level of 102.7 dollars per barrel.
Saudi Arabia
In Saudi Arabia, the general index of the stock market “TASI” continued to rise for the second session in a row by 0.63% to reach 13,397.48 points, to remain recording the highest closing since July 2006, supported by the rise of ACWA Power share 5.7% in light of its aspiration to expand internationally with green hydrogen projects, in addition to the rise of Jabal Omar share increased by 4.44%, and Almarai share rose by 1.15%, following announcing the increase in its quarterly profits. 1.95%.
Nada Al-Samman, technical analyst at the Investment Department at Okaz Securities Brokerage Company, indicated that what enhances the rise in the Gulf markets is the rise in international oil prices and what supports the revenues of the countries of the region, especially amid expectations that they will complete the upward path following US President Joe Biden signed the decision to ban oil imports. Russian. She explained that this decision will positively affect the Gulf states if the volume of their crude production increases, and thus their revenues will jump due to the increase in their market share in the global oil market.
Regarding the Saudi market, Nada Al-Samman explained that the general index “TASI” exceeded its rise to the level of 13313 points with the positive movement of the energy, basic materials and health care sectors, suggesting that it will go through a period of quick profits that may bring it down to levels of 13270-13248 points and then return to the levels of 13500 and then start to the level of 13,770 points.
Diameter
The Doha Securities Market index rose 2.75%, reaching the level of 14,476.47 points, recording the highest historical closing ever, coinciding with the rise of Qatar International Bank 9.6%, Qatar First share 7.14%, Istithmar Holding 4.9%, Masraf Al Rayan 4.6% and Qatar National Bank 3.25%.
the two seas
The Bahrain Stock Exchange index rose 0.08%, with Al Ahli United – Bahrain rising 0.52%, and the National Bank of Bahrain 0.16%, while Al Salam Bank fell 1.04%, Bahrain Commercial Facilities 1.03% and Bahrain and Kuwait Bank 0.79%.
Muscat
The Muscat Securities Market Index increased by 0.74% to reach 4,240.88 points, supported by a rise in Raysut Cement shares by 8.9%, Muscat Finance by 8.33%, Tajeer Finance 7.95%, International Investments 5.2%, Al-Anwar Ceramic Tiles 5.02% and Al-Hassan Engineering by 4.76%, and in contrast the aluminum products share fell 7.8%. Voltamp Energy 3.2%, Oman United Insurance 3.09%, Julphar Engineering and Contracting 1%, and Barka Water Desalination 0.68%.
Kuwait
On the other hand, the first index of the Kuwaiti Stock Exchange decreased by 0.27% to reach the level of 9,141.72 points due to the decrease in the Reinsurance share by 8.39%, the descent of the cleaning share by 7%, the Hayat Communications share by 4.95%, and the Kuwait Business City Company share by 3.2%, while the Arab Holding share jumped by 20% and the share of Kuwait Telecom STC rose by 11.7% to reach 2.2 Kuwaiti dinars, its highest level ever, and the share of Agility rose 3.82%, reaching its highest level in 17 years, which is located at 1.22 Kuwaiti dinars.
