Gulf stock indices recorded mixed performance between ups and downs, as a result of their exposure to varying pressures during the period from the beginning of the year until the end of the first quarter, which coincided with the decline in oil prices for the third quarter in a row, which is the first time that this has happened since 2015. Brent declined by 2.66. % in the first quarter of 2023.
Gulf stocks in the UAE showed a 7.6% decline in the Abu Dhabi market in the first quarter, to close at 9430 points, while the Dubai market index rose 2.1% at 3406.72 points, and stock liquidity recorded 121.7 billion dirhams in 3 months, of which 102.68 billion dirhams were in the Abu Dhabi market, and 19 billion dirhams. dirhams in the Dubai market.
Saudi stocks..
Saudi stocks also recorded a positive quarterly performance, supported by strong monthly gains during March 2023, and after successive quarters of decline, the general market index (TASI) rose in the first quarter by 1.1%, to end the last session of the season at 10,590 points.
The market value of the shares listed on “Tadawul” reached 9.984 trillion riyals, and in terms of liquidity, the first-quarter trading amounted to 269.71 billion riyals, and the Saudi stock index increased by 4.8% during the past March, and this is the highest monthly gain for the index since July 2022. .
Gulf stocks.
The general index of the Qatar Stock Exchange for the month of March closed down by 3.4%, which is the second monthly decline in a row, which led to the index incurring a second quarterly loss in a row. The general stock index fell 4.3% in the first quarter.
On the Kuwait Stock Exchange, the first index recorded the lowest quarterly closing since the end of 2021, down by 3.6%, while the March losses for the index amounted to 3.1%, which is the fourth consecutive monthly decline.
Likewise, the Manama Stock Exchange index in Bahrain settled at 1,886.61 points at the end of the first quarter, with a slight decline of 0.10%. In the Sultanate of Oman, the Muscat Market index also settled without significant change at 4,863.09 points, down by 0.18%.
Egypt Stock Exchange..
In the same context, the Egyptian indices closed the month down 3.4% at 10,418 points, and this is the largest monthly loss since June 2022, but the 30-year-old index recorded strong quarterly gains of 12% in the first quarter, and this is the third quarterly gain in a row.
Source: Gulf
