Gulf stock market indices fell in trading today, Monday, due to a wave of fears of a global economic slowdown that dominates investors, which pushes global markets to record losses.
Wall Street’s main stock indices fell to close lower at the end of the week, as panicked investors continued to rearrange their positions amid fears that monetary policy tightening might push the economy into recession.
Today, Monday, the Saudi stock market index fell by 40%, to 11,118 points, as it was also affected by a drop oil prices.
Oil prices rose slightly in early trading on Monday, following falling to their lowest level in eight months last week, weighed by a stronger dollar and fears that sharp increases in interest rates globally might lead to a recession and hurt fuel demand.
Oil prices returned to a slight decline in Monday’s trading, following falling to their lowest level in eight months last week, affected by the rise in the dollar and fears that sharp increases in interest rates worldwide will lead to a recession and damage the demand for fuel.
The dollar index rose to its highest level in 20 years, today, to limit the rise in oil prices.
The value of Saudi stock trading, during the session, amounted to regarding 1.8 billion riyals, and the amount of traded shares was 40 million shares.
The prices of 134 shares rose, while the prices of 56 shares declined, out of 217 listed companies.
And issued the shares that rose the most, “Anaam Holding” by 9.94%, followed by “Sera” 3.84%, and “STC” 2.77%.
And came in the forefront of the decliners “Nahdi” 2.81%, followed by “Bupa Arabia” 2.69%, and in the third place came the share of “Sipchem International” by 2.67%.
The most active stocks in terms of trading value were SABIC, Al-Rajhi, Al-Ahly, Maaden, and STC shares, while the shares of (Dar Al-Arkan, Petro Rabigh, Saudi Aramco, STC, and Al-Ahly) topped the trading volumes.
The main index of the Dubai market lost 1.49% to the level of 3358 points, and the Abu Dhabi index fell by 1.63% to the level of 9841 points.
In Qatar, the main index fell 0.28%, and the Sultanate of Oman index fell 0.41%.
The primary market index in Kuwait fell by 0.78%, and the Bahrain General Index decreased by 1.03%.
The general index of the Amman Stock Exchange decreased by 0.38%.
