Mubasher: Most of the Gulf financial markets recovered at the end of trading today, Tuesday, following the impact of their global counterparts, and the rise in oil prices, following the violent decline they experienced during the past two sessions.
The general index of the Saudi market “TASI” rose by 0.99% to 11017.38 points, with the share of the oil giant Saudi Aramco increasing by 1.17% and the petrochemical giant “SABIC” by 0.58%.
Ibrahim Al-Failakawi, stock market expert, explained that what is happening is a temporary positive interaction that may extend for a week, coinciding with the necessity of technically rebounding the indices of the region’s stock exchanges with the time of the monthly and weekly closures of major investment portfolios.
He pointed out that the fluctuation in the performance of the region’s markets is expected to continue until the Ukrainian-Russian crisis and its repercussions stabilize.
In turn, Mahmoud Atta, an investment expert in stocks, told “Mubasher Information” that the markets would return quickly to some cautious movements, starting next week, with the approach of the quarterly disclosures for listed companies, and amid investors’ assessment of concerns that increased sharply regarding the global economic slowdown, coinciding with the monetary tightening before. Major central banks to control high inflation.
In the UAE, the Dubai Financial Market index rose 0.7% to 3,373 points, with the Emirates NBD share rising 5.2%, while the share of Emaar Properties decreased by 0.7%.
The Qatari index rose 0.52% to 12,351.31 points, following two sessions of decline, following the Investment Holding share achieved 4.8% gains, Al-Ahly Bank increased 4.25% and Electricity and Water 2.15%, while Qatar National Bank, the largest bank in the Gulf, declined 0.5%. .
The first index of the Kuwaiti Stock Exchange increased by 0.48%, with the increase in the shares of Agility for Public Warehousing by 0.44% and Zain Kuwait by 2.8%.
The Muscat Securities Market index rose 0.8%, with Dhofar Feed adding 8.2%, Omani fish 3.8% and Raysut Cement adding 2.6%.
On the other hand, the Abu Dhabi Securities Exchange index fell by 0.7% to reach 9696 points, with Aldar Properties falling 2.3% and Etisalat by 1.7%.
The Bahrain Stock Exchange index fell by 0.04% to reach 1883.42 points, with the Bahraini Kuwaiti share falling 10% and the Bahraini Batelco 0.2%.
Outside the Gulf region, the Egyptian blue-chip index fell 0.11% to 9817.37 points, following the Commercial International Bank’s share fell 1.59%.
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