Boursa records losses despite dividend news

This news has been read 800 times!

KUWAIT CITY, Feb 4: During past week’s transactions, the financial markets in Gulf Cooperation Council countries resulted in losses for five indices and gains for two. The fluctuations ranged from substantial to moderate, reports Al-Jarida daily. The Kuwait Stock Exchange indices also recorded losses, with the general market index losing 1.43%, reducing its gains for the year to 6.6%. Announcements of annual dividends by major including NBK, Boubyan, and KFH, had varying impacts on stock positions, with KFH and NBK experiencing losses. The gains of the Bahrain Financial Market reached 4.9% for the year, securing the second position after the Kuwaiti market.

Additionally, the Dubai Financial Market Index saw a noteworthy growth of 1.57%, closing at 4,228.74 points, its highest level in almost two years. The gains for the year amounted to 4.1%, supported by positive annual results from companies, with 45% reporting significant growth, particularly in the banking sector. However, Qatar and Saudi Arabia faced losses exceeding 2%, with the Qatar Financial Market index dropping by 2.88% to close at 10,049.36 points. Global market indices’ performance and oil price fluctuations, coupled with limited profit growth among listed companies, contributed to the decline.

Surprisingly, the Bahrain Financial Market index, with the smallest value weight among the region’s indices, emerged as the top performer. It exhibited significant growth of 2.65%, adding 53.37 points to reach 2067.11 points. Notably, this index, which has yet to begin its annual listed companies’ announcements, outshone others, including the Kuwait Finance House, listed on the Kuwait Stock Exchange, which reported a remarkable 63% increase in profits compared to the previous year. Abu Dhabi and Oman financial market indices experienced moderate declines, with Abu Dhabi losing 1.16% and Oman losing approximately 0.97%.

Despite positive banking sector results in the Emirates, Abu Dhabi’s index increased its year-to-date loss to 1.4%. The Amman Financial Market Index in Oman maintained a 1.1% gain achieved during January but lost approximately 0.97% during the week’s trading. In summary, the Gulf Cooperation Council countries’ financial markets showcased a mixed performance, with notable gains in Bahrain and Dubai, while Qatar, Saudi Arabia, and Kuwait faced losses. Abu Dhabi and Oman experienced moderate declines, reflecting the broader economic and geopolitical influences on regional markets.

This news has been read 800 times!

Related Articles

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights