Boursa Kuwait 3rd best in GCC

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KUWAIT CITY, Nov 1: The Kuwaiti Investment Company (KAMCO) on Monday said that Boursa Kuwait maintained its position as the third best performing market in the Gulf Cooperation Council (GCC) countries in terms of gains recorded since the beginning of 2021, recording a growth of 28.2 percent. Boursa Kuwait was up for the eight consecutive month during October 2021, and was the best performing market in the GCC during the month with a gain of 3.5 percent for the All Share Index, KAMCO said in its GCC markets monthly report.

The All Share Index, Premier Market and the Main Market index closed the month at the highest level since inception. The gains were mainly seen by mid-caps and small-cap stocks on the market, the report added. The strong quarterly earnings for Q3- 2021, especially from Kuwaiti banks further added to the investor optimism during the month. This was reflected in the Main Market index that showed a return of 6.4 percent followed by the Main 50 Index that was up 4.8 percent during the month outperforming the Premier Market index that recorded a gain of 2.6 percent with consistent gains.

For the Saudi Stock Exchange, reported its tenth consecutive month of gains during October 2021, the index closed at over 15- year high level of 11,939.6 points. The report added that the performance of the Abu Dhabi Exchange registered another month of gains in October 2021 for the 13th consecutive month at 55.9 percent while Dubai Financial Market index rose marginally into positive territory witnessing an uptick of 0.7 percent.

Qatar Stock Exchange recorded the third best monthly performance in the GCC during October 2021 after witnessing gains for the fourth consecutive month at 11,764.8 points registering a gain of 2.4 percent. For the performance of the Bahrain All Share index, it registered its seventh consecutive monthly gain during October- 2021. The index increased by 2.2 percent during the month to close at 1,743.06 points. (KUNA)

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