Boursa Kuwait gains; Tadawul, Muscat fall in Q3

Boursa Kuwait gains; Tadawul, Muscat fall in Q3
The GCC stock markets posted a positive performance during the third quarter of 2018.

By: Thabet Shehata

Riyadh – Mubasher: GCC stock markets finished the third quarter of 2018 with an overall positive performance.

Boursa Kuwait topped the list, while the Saudi Stock Exchange (Tadawul) and Muscat Securities Market (MSM) witnessed a drop.

Market capitalisation of GCC bourses rose to $1.05 trillion during the three-month period ended September, compared to $1.04 in Q2-18.

As for the Kuwaiti market, the Premier Market Index hiked 9 %, or 439 points, to 5,343.91 points in Q3-18, from 4,904.82 points in the prior quarter.

Boursa Kuwait's market value jumped 6.5% to KWD 28.7 billion ($94.8 billion) in the July-September period of this year, against KWD 26.93 billion ($88.96 billion) in Q2-18.

The Qatar Stock Exchange (QSE) rose 8.7% to 9,813 points by the end of Q3-18, from 9,024 points a quarter earlier. The bourse’s market capitalisation soared 10.8% to QAR 547.4 billion in Q3-18, compared to QAR 493.7 billion in the previous quarter.

While the general index of the Abu Dhabi Securities Exchange (ADX) witnessed an 8.23% growth during Q3-18 as it stood at 4,935.370 points, with a market capitalisation of AED 492.28 billion ($134.03 billion).

Bahrain Bourse’s index levelled up 2.10% to 1,338.55 points in Q3-18 with a market capitalization of BHD 8.206 billion.

Meanwhile, the All-Share Index (TASI) of the Saudi Stock Exchange (Tadawul) retreated 3.78%, or 314.65 points, to 7,999.5 points during the third quarter of this year. TASI’s market value declined 4.18% to SAR 1.899 trillion.

Similarly, MSM’s index ended the third quarter in the red, falling 0.61%, or 28.07 points, to 4,543.68 points.

MSM’s market value rose 2.81% to OMR 18.118 billion in Q3-18, from OMR 17.623 billion in Q2-18.

 

Translated by: Kholoud Mohamed Hussein