A quick profit push pushes Saudi Arabia into the red square…...

A quick profit push pushes Saudi Arabia into the red square…...
A quick profit push pushes Saudi Arabia into the red square…...
Quick profit-taking operations pushed 3 indices of the Gulf stock exchanges to decline at the end of trading today, Thursday, while the major stocks led the Qatar and Muscat stock exchanges to rise.

Saudi Arabia

In Saudi Arabia, the stock market index “TASI” decreased by 0.62%, losing about 69.93 points, reaching 11,299.45 points, with the share of Etihad Etisalat down by 0.3% and Al Rajhi Bank by 0.4%, in addition to a decline in the share of SABIC by 0.5%.

Mohammed Mahdi Abdulnabi, an expert in financial markets, believes that the performance of the Saudi market today was affected by the return of profit-taking operations quickly after two sessions of rise, coinciding with the decline in oil prices. New investors last period, especially with strong government offerings.He pointed out that concerns about Corona and what reflected negatively on global markets, especially European at the beginning of the week, and the decision of major countries led by the United States regarding the strategic reserve did not stop the expected rises.

Kuwait

By the end of today’s session, the general index of the Kuwait Stock Exchange continued its decline by 0.19% to reach 7,719.97 points, with the Sultan Center share falling 3.5%, the Agility share falling 0.3%, the National Bank of Kuwait share by 0.1%, and the National Investments share also decreased by 0.86%.

the two seas

The general index of the Bahrain Stock Exchange returned to decline by 0.72%, to reach 1779.23 points, with the share of Khaleeji Commercial Bank falling 9.6%, Al Ahli United – Bahrain 1.5%, and Al Baraka Banking share 1.15%.

In turn, Mahmoud Atta, an investment expert, explained that what happened at the beginning of the week coincided with necessary natural correction processes, and that what we witnessed today in the Kuwait and Bahrain stock exchanges is a continuation of those corrective operations, which may end with the beginning of trading next week.

He pointed out that the coming period in the Gulf markets will witness relocations of investors, and its goal will be to take new positions in the shares of companies with strong profits and shares that have a high value.

Muscat

On the other hand, the Muscat financial market index continued to rise by 0.29% to reach the level of 4118.22 points, with the share of Muscat Finance rising 3.6%, Al Sharqiya Investment 3.5%, and Raysut Cement 2.5%.

Doha

The Doha Securities Market index returned to a slight rise of 0.01%, to reach 11790.98 points, a gain of 0.97 points, with the share of Masraf Al Rayan increasing by 1.5%, and Navigation by 0.8%, in addition to the increase in the share of United Development by 0.2%.

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