Last week, the stock markets in Gulf Cooperation Council countries showed mostly positive performance. In Saudi Arabia, the market index increased by 0.8%, reaching 12,352 points. Kuwait also saw a slight increase of 0.16%, closing at 7,033.48 points. Bahrain ended the week with a 0.58% increase in the Bahrain General Index, closing at 2,028.59 points.
In Oman, the Muscat Stock Exchange index rose by 1.27%, closing at 4773.30 points. On the other hand, Qatar was the only country to see a decline in its stock index, dropping by 0.28% and closing at 9,610.80 points.
Despite Qatar’s slight decline in its stock market index last week, overall most countries in the GCC region recorded positive gains in their stock markets.
The Saudi Arabian market index reached its highest point of the year with an increase of 0.8%. Similarly, Kuwait also saw a modest increase of 0.16%, despite this being one of its lowest gains for this year.
Bahrain recorded a rise of around 0.58% in its Bahrain General Index and closed at a high for this quarter.
Oman had an outstanding performance as its Muscat Stock Exchange index rose by about 1% last week.
Overall it appears that most countries in GCC region are moving towards growth and stability as their stock markets record positive gains for consecutive weeks except for Qatar which experienced a slight decline last week but still remains optimistic about future prospects.
