Crude oil prices, which were the primary driver of the Gulf markets, dropped after Chinese data revealed that demand from the world’s top importer was weak in September due to regulations addressing the Corona virus and fuel export limits, which resulted in lower consumption.
stock price changes
The first shares of Abu Dhabi Bank fell by 0.6%, and the Abu Dhabi Financial Market Index dipped somewhat by 0.5%.
The Dubai Financial Market Index decreased by 0 as well.
6 percent, with shares of Emaar Real Estate Company falling by 0.8% and those of Dubai Islamic Bank falling by 1%.
According to Exense’s chief market analyst Wael Makarim, investor mood is still shaky, which is causing some volatility on the Dubai stock exchange.
He added that the market can witness some support from the initial public offering of “Embower”, which can attract liquidity and the interest of investors in the market.
Executives at the Emirates Central Reference Technology Systems Company “Embower” in Dubai said on Monday that the company plans to start a PPO next week.
The Saudi index recovered from its early losses to conclude up 0.6%, maintaining its upward trend for a second straight session, with Al-Rajhi Bank’s arrow up 0.7%.
The Egyptian leadership stock index increased 0.6% outside of the Gulf area, helped by 2.
For the Commercial International Bank’s portion, it is 5%.
Oil prices land with the shares of the region .. The Saudi economy is expanding.
About Author
