Stock Markets

Kuwait stocks fell in November driven by sharp fall in oil prices

Kuwait, in line with the broader GCC market, ended the month in red, fuelled by sharp fall in oil prices. The growing fears over a new COVID-19 variant also led to profit taking at the end of the month. Market Performance & Key Metrics Source: Refinitiv, Boursa Kuwait All sectors, except Healthcare and Insurance, declined in November. Insurance was the top gainer, rising 7.6% followed by healthcare which recorded modest gains of 1.8%. Basic materials and Industrials sector indices registered...

GCC Stock Markets – Positive earnings growth strengthen business optimism

According to our recently released Monthly Market Review for the month of August, GCC equity market gained by 3.6%. At country level, all GCC markets except Oman registered gains for the month. Globally, equities continued their bullish rally as indicated by the MSCI World Index which gained by 2.3%, extending YTD gains of 16.8%. MSCI EM Index gained towards the month-end recuperating from its mid-month weakness. U.S and U.K were also positive for the month. GCC Markets: Most markets end...

Indian startups Eye a new “SPAC” opportunity

When US stock market sneezes, Emerging markets including India catches cold! However, this time around there is positive news for Indian tech startups in the form of Special Purpose Acquisition Companies (SPAC’s). Though SPAC’s are not a new concept, suddenly they seem to be in a rage in US for a variety of reasons. Before that, let us briefly look at what this is. As the name implies, it is a special purpose vehicle formed and floated in the market...

Vaccine approval helps GCC markets recover most of the year’s losses

GCC stocks staged a strong recovery towards the end of the year after seeing a sharp fall in March and April due to oil prices crashing and fears of sharp economic slowdown due to Covid-19. The benchmark S&P GCC Composite index recovered from the lows and ended the year with a fall of just 1.7%. GCC markets rose in November after pharmaceutical firms Pfizer, Moderna and AstraZeneca announced favorable news on COVID-19 vaccine development. Subsequently, several governments including many GCC...

GCC Stock Markets – Kuwait continues to be the best performer

According to recently published Monthly Market Review for the June, GCC markets recovered lost ground during the month, as the positive performance of Saudi equities lifted the broader index. Kuwait continued its positive run in 2019, registering gains for the sixth month in succession. Kuwait’s All Share index rose by 1.9% while its Premier market index rose by 2.3% in June. In the first half of 2019, Kuwait emerged as the best performing market with a gain of 19.1%. The...

Kuwait Blue Chip Companies – Banks Outperform on Regulatory Reforms

Kuwait Blue Chip Companies – Banks Outperform on Regulatory Reforms. Kuwait’s GDP growth returned to positive territory in 2018, with higher input from its non-oil sectors, increased government investment to boost growth and improvement in the oil prices. Reforms to the capital markets and banking sectors attracted further inflows into the economy. The year 2018 has been an eventful one for Kuwait capital markets with the opening up of the banking industry being the latest in a series of measures...

GCC Stock Markets – Riding on global euphoria!

According to recently published Monthly Market Review for the month of March, performance of GCC equity markets improved with Kuwait being the top performer, followed by Saudi Arabia. Qatar remained flat while Oman and Dubai continued to retract. Globally, China‘s Shanghai index surged sharply, becoming the leading performer for the year as conducive policy environment, easing concerns pertaining to trade war and  improving sentiments resulted in increased inflows. Emerging markets continued the strong momentum during the month of March, particularly...

GCC Stock Markets – A Tepid February

According to our recently released Monthly Market Review for the month of February, GCC equity market pulled back where S&P GCC index retreated back by 1%, after a fabulous January when it zoomed by nearly 7%. At country level, some continued their upward trajectory (UAE, Bahrain and Kuwait) while others (KSA, Qatar and Oman) pulled back from their earlier rally. Globally, equities continued the bullish rally in February as indicated by MSCI World index that increased by 2.8%, extending YTD...

Dubai Stock Market: Is this just another correction?

For over two decades, Dubai has prospered as one of the fastest developing international cities, attracting people and capital from all across the globe. In 2009, Dubai needed a $20 billion bailout from oil-rich Abu Dhabi to escape a debt crisis caused by collapsing property prices. Dubai’s economy roared back and has grown by a third since then, buoyed by foreign trade, tourism and its status as the main regional hub for business services. Now, however, Dubai has hit another...

Oil price recovery contributes to the regional markets’ rally in July

Value traded in July reflected the positive sentiments in the market, with volume traded increasing by 8% while the turnover in the market increased by 10%. All MENA markets, barring Abu Dhabi, Qatar and Egypt, witnessed gain in liquidity. Kuwait and Bahrain bourses evidenced 89% and 52% increase in value traded. The increase in liquidity attributed to the base-effect, especially due to poor trading activity in the previous month of Ramadan. In terms of valuation, P/E of Morocco (20.1x), Saudi...