GCC markets open in red today

Gulf stock indices closed in the negative territory today, Aug. 4, coinciding with the losses incurred by oil prices and global markets on Friday.

 

During Friday's trading session, US markets fell as the 10-year bond yield dropped to its lowest level since December 2023, amid a frantic rush by investors to buy bonds, seeking a haven amid renewed fears of an economic recession.

 

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) was the worst performer among GCC peers, plunging 2.4%.

Boursa Kuwait came second, falling about 2.2%.

 

Meanwhile, the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) were closed today for the weekend. The following table shows the GCC markets’ performance today:

 

Gulf Markets’ Performance

Market

Level (Points)

Change (%)

Saudi Arabia

11754

(2.4%)

Kuwait

7695

(2.2%)

Bahrain

1951

(1.0%)

Qatar

10057

(0.7%)

Muscat

4647

(0.4%)

 

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