Gulf bourses are partially recovering

Gulf bourses are partially recovering
Saudi Stock Exchange

The Arab markets caught their breath in the last sessions of the week, as they witnessed increases during Thursday's session, the largest of which was the Abu Dhabi Stock Exchange, following the sharp losses that continued during the week's sessions.

The Abu Dhabi Securities Exchange ended the trading day, up by 8.41%, and closed at 3685.56 points. The rise was supported by the rise of First Abu Dhabi Bank by 14.93% to close at 9.39 dirhams.

And closed the Dubai Financial Market, an increase of 2.85% to close at 1819.24 points, amid the rise of most of the companies traded. The rally was supported by the rise of Emaar by 12% and Emirates NBD by 0.54%.

The Kuwaiti First Market Index also rose by 5.1% to close at 4902.42 points, reducing the gains it achieved before the close, as the index reached its peak by 12:13 at 5118.9 points.

In Saudi Arabia, the Tasi index ended Thursday's trading, up by 1.83%, adding about 112 points to close at 6267 points, supported by a semi-collective rise for the listed sectors whose indexes rose except for a single decline in the media and entertainment sector.

Today 359.7 million shares were traded with a total value, and liquidity rose close to 8 billion riyals, reaching 7.9 billion riyals.

According to experts, the Saudi market is still under the influence of the Corona pandemic and its impact on the economy in general and its dimensions, in addition to the decline in oil and its impact on oil-producing countries and its dimensions.

Analysts believe that the positive will return to the market after the discovery of a vaccine or recovery in more cases and the epidemic recedes, as well as reaching solutions by improving oil prices from an agreement with OPEC countries or increased demand.

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