4 Gulf stock exchanges recorded strong gains at the end of their weekly trading, amid an increase in the appetite of global fund investors to seize positions in stocks, and the return of the rise in oil prices above the level of 110 dollars per barrel, due to the increase in Russia’s military operations in Ukraine, and the temporary failure of peace negotiations between the two countries, while profit-taking operations dominated Muscat Securities Exchange.
Howayda Salam, managing director of Al-Safa Securities Brokerage Company, said that the official statistics in the region’s stock exchanges showed the desire of foreign investment funds and major portfolios to increase their investments in Gulf stocks, especially with some countries in the region about the Ukrainian crisis, which enhances their stable geopolitical position that attracts capital. .
She suggested that the appetite of global emerging market funds will increase, noting that this is confirmed by Morgan Stanley’s expectations that the region’s markets will attract foreign flows of more than about $82 billion.
She pointed out that the rise in Brent crude prices and expectations of an increase in its prices to $150 per barrel will positively benefit the region’s stock markets, especially the petrochemical and oil sector in general.
In turn, Mohamed Hassan, Managing Director of Bloom Egypt Investments, said that the Gulf markets are still moving on their upward path as a result of the strong rise in oil with the start of the Russian-Ukrainian war again, which was reflected in energy prices, which increased hysterically on all consumer goods.
He pointed out that the Gulf market indices are still trading at historical levels that may qualify him for further increases in the coming period. He pointed out that all these factors may increase oil prices, which is reflected in increased returns to the countries of the region producing crude oil, which helps to further rises in the financial markets.
For his part, the advisor for trading in financial markets, Muhammad Mahdi, advised that the markets in the region may focus their investors more during the next week on the events regarding the Ukrainian crisis, which may affect their attitudes towards stocks, in the event of their escalation, which is expected to happen, especially with the American and Russian escalation, in addition to some Data on the spread of Corona in China. He expected that most of the region’s stock exchanges would be subject to profit-taking operations next week, coinciding with Western countries expanding the scope of sanctions against Russia at an emergency NATO summit. Western leaders meeting in Brussels agreed to bolster forces in eastern Europe, increase military aid to Ukraine, and tighten sanctions against Russia.
Saudi Arabia
The general index of the market “TASI” rose 1.4% to reach 12,948.37 points, with the Saudi Nahdi share increasing by 20.6%, in addition to the rise of the equipment house share by 20.6%, exports 11.97%, ACWA Power 9.34%, Ma’aden 8.25%, the National Bank of Saudi Arabia 5.15%, Eastern Cement 4.95% and Bank Al-Bilad 3.33%, Riyad Bank 2.25%, petrochemical giant SABIC 1.88%, Saudi Aramco 1.79% and Bank Al-Jazira 0.95%.
the two seas
The stock market index rose 3.45%, with the rise of the aluminum Bahrain “Alba” share by 16.12%, the import investment share by 5.26%, the Ahli United Bank – Bahrain share by 2.5%, the rise of the Batelco share by 0.9% and GFH by 0.94%.
Kuwait
The first index of the stock exchange rose 2.67%, reaching 8,042.64 points, with the share of Kuwaiti investments rising 8.45%, the Kuwaiti hotels share 7.9%, the cable company share 5.6%, the Agility share 5.34%, the Kuwaiti KAMCO 4.6% and the Sultan Center 4.6%, in addition to the rise of the Kuwait Finance House share by 3.4%. Shares of Hayat Com 3.06%, and Mashaer shares 3% and Gulf Bank 2.8%.
Diameter
The Doha market index rose 1.75% to 13,637.97 points, supported by the rise of Mesaieed Petrochemical 10.46%, Islamic Insurance 8.24%, Investors Holding 5.7%, Qatar International Bank 5.07% and Industries Qatar 2.86%.
Muscat
The Muscat market index fell 0.8%, reaching 4,281.17 points, with Al-Jazira Steel falling 6.1%, Bank Muscat by 5.82%, Omani fisheries by 5.68% and National Gas by 5%. On the other hand, the building materials industry stock led the rise by 34.88%, Oman chlorine rose 10%, and Vision Insurance rose 8%.