06/08/2020 10:01 AST

GCC equity markets staged a strong recovery in the latter part of 2Q20, reversing a large part of the prior losses induced by the coronavirus and its associated lockdowns and restrictions. The recovery was underpinned by rising oil prices and a gradual reopening of regional economies which helped boost optimism for a swift economic recovery.

NBK’s update on equity markets, noted the MSCI GCC index gained 11 percent quarter-over-quarter, lifted by strong gains in some regional markets. Meanwhile, Kuwait lagged behind, though still up a solid 6.4 percent q/q, supported in part by the confirmation by MSCI of the markets upgrade to EM status in November, thereby curbing some uncertainty about upgrade-related portfolio (passive) inflows which could be worth $2-3bn. This has re-ignited active foreign inflows, which were relatively dormant for most part of the year, reverting to positive net flows of KD 3.6m in June and reflecting renewed foreign investor interest in Kuwaiti stocks. Oman (2 percent) and Bahrain (-5 percent), underperformed, likely affected by high uncertainty about the economic outlook amid the coronavirus shock given their smaller reserves and fiscal buffers.

Despite various signs of improvement, downside risk remains elevated given the uncertainty surrounding both the coronavirus and oil prices, and their impact on economic growth, investor sentiment, and governments’ finances. regional equities will continue to be influenced by global factors, such as a resurgence of trade tensions and a slower-than-expected global economic recovery.

According to analysts at Kamco Invest, Qatar’s QSE-20 index was the best performing index in the GCC in July2020, as the index closed at 9368.17 points and was up by 4.1 percent month-on-month.

The Qatar All Share index which maps the broader market, also gained by 4.2 percent, as all sectors closed in the green. The Real Estate index was the best performing sectoral index gaining by 5.8 percent month-on-month.

Meanwhile, global equity markets were broadly positive in 2Q20 on optimism about a relatively swift economic recovery following the easing of lockdowns and business restrictions. The recovery was helped by continued central bank stimulus.


The Peninsula

Ticker Price Volume

ADX 4,830.22 0.00 (0.00%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ADIB 3.95 0.02 (0.50%)
FAB 13.80 0.10 (0.72%)
ADCB 7.01 0.00 (0.00%)
CBI 0.73 0.00 (0.00%)
UNB 3.77 0.07 (1.89%)

DFM 2,840.89 0.00 (0.00%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
EIB 10.00 0.00 (0.00%)
EMIRATESNBD 9.20 -0.18 (-1.92%)
EMAAR 5.10 -0.02 (-0.40%)
EMAARMALLS 2.05 0.00 (0.00%)
DIB 5.01 0.01 (0.20%)
Investors in UAE turn cautious after Lebanon blast

06/08/2020

The stock markets in the UAE and GCC were in a tug-of-war state as investors weighed positive news on the economic front and a ‘catastrophic’ overnight explosion in Lebanon that killed at least 100.<

Gulf News

MSM ends the week up despite lower volumes and turnover

05/08/2020

The MSM 30 Index closed the week up by 0.12 per cent despite lower volume and turnover as compared to the previous week. Shariah index was down by 0.07 per cent. The turnover and volumes were lower t

Oman Daily Observer

ADX announces listing of $4 billion MDGH bonds

05/08/2020

Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has listed $4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding (MDGH).

The Gulf Today

UAE issuers are hitting a rich vein with bonds

20/06/2020

Leading UAE banks have come to the bond market, and they are getting a warm response. Sharjah Islamic Bank priced its $500 million 5-year sukuk at LIBOR plus 285 bps, and received more than $3.4 bil

Gulf News

Domestic buying extends gains on QSE as index crosses 9,200 level

18/06/2020

Domestic institutions’ strong penchant for buying Wednesday extended the bullish run on the Qatar Stock Exchange for the second straight session as its key index surpassed the 9,200 level.

Gulf Times