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Dubai and Qatar share markets outperform the rest in GCC

September 2016

September 6, 2016 | 10:45 |  Dubai

GCC markets ended on a mixed note in August amid volatile oil prices due to talk of an oil production freeze. The QE (3.6%MoM) was the top gainer for the month, followed by the DFM (0.6%MoM). TASI (-3.5%MoM) was the top loser, followed by ADX (-2.3%MoM), MSM (-1.9%MoM), BSE (-1.2%MoM) and KSE (-0.6%MoM), according to a report by Global Investment House.

The combined market capitalization of GCC bourses declined 1.1%MoM to USD832bn in August from USD841bn in July. The Saudi bourse contributed the most (USD378bn or 45.4%) to overall market capitalization, followed by the Qatari index (USD137bn or 16.4%), and the Abu Dhabi and Dubai markets (USD203bn or 24.4%). The Kuwaiti, Omani, and Bahraini exchanges contributed USD114bn (13.7%). Trading activity rose in August, with the volume traded increasing 6.4%MoM to 10.4bn shares and value traded rising 17%MoM to USD22.9bn.

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