By Amr Fouad

Mubasher: Five GCC stock markets declined in the first quarter of 2014, extending the downward trend which started in Q4-14 due to falling oil prices.

The markets were hurt by investor worries amid the region's geopolitical tensions, analysts told Mubasher.

The Saudi bourse, the region's biggest stock market in terms of market capitalization, turnover and traded volume, snapped its Q4-14 decline. The benchmark climbed nearly 5.35% or 445 points to reach 8,778.9 points, compared with 8,333.3 points at the end of December.

Bahrain Bourse rose around 1.36% or 19.45 points to 1,446.2 points.

Meanwhile, Dubai Financial Market (DFM) led decliners, plunging 6.88% or 259.6 points to 3,514.4 points compared with 3,774 at the end of 2014.

Oil price fluctuations weighed on the UAE stock markets over the last period amid lack of internal incentives, said Talal Al Khouri, CEO of Al Awael Holding.

Muscat Securities Market extended its decline to the second straight quarter, dropping around 4.9% or 320 points to 6,238 points compared with 6,558.46 at the end of December 2014.

Muscat market is still moving sideways, said capital market expert Ibrahim Al Failakawi, adding that if the index breaks the 6,200 level, it will head towards 2014 trough at 5,400 unless it rebounds to close above the 6,800 mark.

Qatar Exchange dived 4.68% or 574.38 points to 11,711.40 points compared with 12,285.78 points at 2014-end.

The market was pressured by some external factors, mainly low oil prices, said Ahmed Maher, financial analyst at NAMA Economic Consulting.

Meanwhile, Kuwait Stock Exchange's Price Index lost 3.88% or 253.26 points to 6,282.46 compared with 6,535.72 at the end of Q4-14.

Abu Dhabi Securities Exchange was hurt by leading sectors in Q1-15, such as the energy, real estate and banking sectors. The index lost as much as 1.36% or 61 points to 4,467.93.  

Translated by Abdul Maguid Aboshahla