09/09/2013
Kuwait index stops dropping lasted for 10 weeks
Dealers exchange raises most of Gulf stock
Dubai Commercial Exchange led the recovery in regional markets yesterday with the return of hunting deals to snap up stocks that fell sharply over the past two weeks, but the specter of a possible military strike on Syria led to continued volatility. The Dubai index climbed 1.5 percent, up from its lowest level in two months after four sessions, during which the stock lost 10.1 percent. The market is dominated by individual's dealers for fluctuations with the reduced retention period stock investors as well as high risk because of the geopolitical situation , the shares of companies that were most affected by the recent wave of selling the largest gains with a rise of ' Union real estate ' and ' Arabic Air' 4.1 and 4.3 percent, respectively.
According to Reuters, said Mohammed Omran, Chairman of the Centre for financial advisers in Riyadh ' only reason for sale is the political situation and will not continue. There are opportunities in the market to attract buyers due to the attack on Syria might be delayed somewhat, and Emirates NBD shares rise to 6.8 percent after four sessions of losses. Analysts say that investors are likely to divert investment towards the leading shares during periods of political uncertainty.
Abu Dhabi market General stock differs from the trend in the region to decline 0.3 percent registered the lowest close since June 26. Kuwait index increased 0.3 percent to stop falling 10 sessions, while Qatar exchange index rose 0.6 percent after declining for four meetings for recovering from its lowest level in 10 weeks. Elsewhere, the Muscat index increased 0.6 percent to 6,452 points, Bahrain index rose from 0.06 percent to 1,182 points.
