Regional markets’ main indices witnessed a mixed performance last week, driven mainly by lack of catalysts and lower oil prices.
The DFMGI was on top of the losing team, having a weekly decrease of -2.4%, adding to its YTD performance to be down by -4.8%. The index’s second heavy weight stock, Dubai Islamic Bank, mainly drove the decrease, as it went ex-div.
TASI came in second during the week with losses of -1.5%, driven mainly by weaker oil prices, where crude oil ended the week at USD64.37 per barrel, which translated into a weekly loss of -4%.
Bahrain ended the week on a positive note with +1.6% increase, followed by Kuwait, Egypt and Oman all ending the week with a marginal increase of +0.8%, while Abu Dhabi was almost flat during the same period.
The coming period is expected to witness range-bound trading activity for regional markets in the absence of drivers and limited international activity