Wednesday , April 14 2021

Gulf markets closed on a mixed note, affecting volatile oil prices



Which markets reported significant gains in stocks?

The Qatari stock market rose 1% to 10,498.33 points.

What are the counter results of bank shares?

Bank shares rose more than 10,000 points in the Saudi market index for the first time in seven years.

Gulf stock market indices were mixed on Wednesday as volatility in crude oil prices hit the region’s economy hard.

The Qatar Stock Exchange led the winning markets, while banking and real estate stocks fell to the United Arab Emirates.

At 12:34 GMT, Brent crude was at $ 63.14 a barrel, up 40 cents or 0.64%.

U.S. West Texas Intermediate crude rose 34 cents, or 0.57%, to $ 59.67 a barrel in May delivery.

In the previous session, the two benchmarks fell 1%.

Despite the loss of petrochemical stocks, the bank’s stock index rose more than 10,000 points, or 0.15%, to 1,004.

Out of the 11 listed banks, 8 shares held by Saudi Francis and Bank of Saudi Arabia rose 5.57% and 4.04% respectively.

The Qatar Stock Exchange index recorded a strong gain of 1% to 10,498.33 points.

Qatar’s aluminum company Camco grew by 8.94%, Qatar Commercial Bank by 6.38% and Qatar by 2.72%.

The UAE Abu Dhabi Market Index fell 0.73% to 6,033.14. Shares of Arkan, First Abu Dhabi and Abu Dhabi Islamic Bank fell 1.78%, 1.52% and 0.98%, respectively.

The Dubai Stock Exchange index was down 0.57% at 2559.36, while Amlak and Xua Capital were down 6.84% and 5.15%, while Emirates NBD was down 0.87%.

The first index of the Kuwaiti market rose 0.33% to 6,431.31 points, while profit rose 9.84% and the National Bank of Kuwait rose 0.12%.

The Muscat Stock Exchange index fell 0.07% to 3714.5 points, with the biggest losers being Oman, Emirates Holdings and Bank Nishwa falling 4.17% and 1.04% respectively.

The Bahraini index was down 0.15% at 1454.27, with shares of Sine down 5.98% and Ahly United Bank down 0.29%.


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