BAHRAIN All Share Index closed at 2,072.03 points yesterday, marking an increase of 13.97 points above the previous closing.
This increase was due to a rise in the financial sector, the industrial sector and the material sector.
Bahrain Islamic Index has closed at 1,028.40 points, marking an increase of 15.32 points above the previous closing.
Results indicated that 150 equity transactions took place with a volume of 5,423,626 worth BD 1,846,805.
Investors traded mainly in the financial sector, representing 55.45 per cent of the total value of securities traded.
Meanwhile, most Gulf stock markets ended higher yesterday, with Saudi Arabia rebounding from a two-year low, as steady oil prices created a more positive mood.
Saudi Arabia’s benchmark stock index rose 0.4pc after touching its lowest level in about two years, with most sectors advancing. Saudi National Bank added 1.1pc, while Saudi Arabian Mining Co (Ma’aden) jumped 4pc after the miner said it received the Ministry of Energy’s approval for feedstock allocation for its Phosphate 4 project.
The Abu Dhabi benchmark index snapped a four-session losing streak to close 0.5pc higher, led by gains in financials and energy. First Abu Dhabi Bank climbed 1.5pc and ADNOC Gas rose 0.6pc. Separately, Abu Dhabi National Oil Company secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development.
Dual-listed Orascom Construction fell 3.4pc after Norbury Capital said on Wednesday it would contest fertiliser maker OCI’s proposed merger with Orascom Construction in its current form, arguing it undervalues OCI and disadvantages minority shareholders.
The Qatari benchmark index extended losses for a fourth session, closing down 0.7pc as most stocks declined. Industries Qatar slid 2pc and Qatar National Bank – the region’s largest lender – fell 1.3pc. Separately, state-owned QatarEnergy lowered the term premium for February-loading al-Shaheen crude after weakness in spot benchmark premiums, sources said.
Dubai’s benchmark stock index slipped 0.5pc, dragged down by a 9.6pc drop in Gulf Navigation Holding and a 0.7pc decline in Emaar Properties. Tecom Group rose 2.5pc after the business districts operator said it launched a 615 million dirham innovation hub in Dubai Internet City to meet rising office-space demand.
Outside the Gulf, Egypt’s blue-chip index fell 0.6pc for a third straight session as broad-based weakness persisted. Eastern Company dropped 5.6pc, while Commercial International Bank fell 2.7pc.
&uuid=(email))