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Bahrain All Share Index closed at 2,031.23 points yesterday, marking an increase of 9.70 points above the previous closing.
This increase was due to a rise in the financial sector.
Bahrain Islamic Index closed at 988.60 points, marking a decrease of 3.39 points below the previous closing.
Results indicated that 82 equity transactions took place with a volume of 4,108,948 worth BD1,013,876.
Investors traded mainly in the financial sector, representing 87.08 per cent of the total value of securities traded.
Most stock markets in the Gulf ended higher yesterday, amid growing optimism for a Federal Reserve interest rate cut in December, although gains were restrained by subdued oil prices.
US monetary policy shifts have a significant impact on Gulf markets, where most currencies are pegged to the dollar, and financial markets are pricing in an increased likelihood of a third and final Fed rate cut this year after Thursday’s jobs data.
The delayed US employment report showed a mixed labour market picture, with non-farm payrolls rising by 119,000 in October, well above forecasts for a 50,000 gain, while the unemployment rate climbed to a four-year high.
In Qatar, the index rose 0.4pc, led by a 3.6pc jump in telecoms firm Ooredoo. Last week, Ooredoo finalised its fully marketed secondary global offering of shares previously owned by the Abu Dhabi Investment Authority.
Saudi Arabia’s benchmark index TASI finished flat, with Saudi Arabian Mining Company (Maaden) advancing 3.3pc. Rare earth miner MP Materials said on Wednesday it would build a refinery in Saudi Arabia for the minerals, with the US Department of Defence and Maaden, to expand Middle Eastern processing of the critical minerals.
Oil giant Saudi Aramco lost 0.7pc. Oil prices extended their decline for a third session on Friday, as the US pushed for a Russia-Ukraine peace deal that could boost global oil supplies.
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