The Arab Gulf stock markets experienced a sideways trend over the past week affected by the high price of Brent Crude, which rose from $42.14 up to $46.97 per barrel since the beginning of August.
Qatar led the region-wide rise to finish 2.57% higher during the past week’s trading. It increased from 10,681.08 points to 10,955.31 points, with an average daily trading value of QAR 302.83m.
Dubai followed, recording 3524.42 points up from 3472.38 points with an increase rate of 1.5%. Dubai registered an average daily trading value of AED 194.04m.
The Saudi market increased by 1.27% and closed at 6325.62 points up from 6246.45, recording an average daily trading value of SAR 3.031bn.
Kuwait ended its trading last week at 5,491.3 points, registering a rise of 0.74%, with an average trading value of KWD 6.417m.
Muscat also rose by 0.56% to reach 5,896.74 points up from 5,869.79, with an average trading value of OMR 2.72m.
Abu Dhabi increased slightly by 0.01% and settled at 4,527.01 points up from 4526.56 points, with an average daily trading value of AED 125.64m.