JEDDAH/DUBAI: Most Gulf Arab bourses fell on Monday as debt-laden group Dubai World’s meeting with creditors overshadowed trading in the United Arab Emirates.
Markets across the region saw low volume trading as investors awaited the outcome of the meeting. The Dubai index eased 0.2 percent to 1,829 points. The Abu Dhabi index declined 0.8 percent to 2,728 points.
Oman was the region’s biggest loser, falling 1 percent, as the market fell for a fourth consecutive trading day.
Kuwait’s main measure closed 0.5 percent lower at 7,072 points.
In Saudi Arabia, the Tadawul All-Share Index (TASI) increased 0.56 percent to close at 6,252.21 points. The fourth positive consecutive close, with losses in only the Insurance and Hotel & Tourism sectors, which closed with a drop of 0.03 percent and 1.00 percent respectively. On the positive side, sector closes were positive in 13 sectors, with gains ranging from 0.08 percent in the Agriculture & Food Industries sector to a gain of 1.59 percent in the Energy & Utilities sector. Overall market breadth was positive, with 79 advancers and 30 decliners giving an AD ratio of 2.63., the Jeddah-based Financial Transaction House (FTH) said on Monday in its daily market commentary.
— With input from agencies