Constantly affected by the decline "in world oil prices and their counterparts"
Gulf markets lose 200 billion riyals in the worst session 5 years ago
A new wave of selling wiped out paranoid today about 53.4 billion ($ 200.6 billion) from the value of the GCC (Saudi Arabia, UAE, Qatar, Kuwait, Oman)-Bahrain was on holiday – and declining ore global measurement of Brent blend for less than $ 60 a barrel for the first time since 2009. Stock market losses came to more than $ 200 billion lost by the stock market already since the end of October. Most of the frenzied sales of individual investors who fear reduced government spending with the decline in oil revenues. DFM came on top of losing markets yesterday, after falling 7.3 percent when the index level of 3083.69 points, to witness the market panic and fear similar to what happened against the backdrop of global financial crisis in 2008 and the Emirate's debt crisis in 2009. Despite the strong market decline, but the index is still above the 3,000-point psychological barrier, that is. Emaar shares dropped the maximum leader, or 10 per cent, as well as several stocks retreated so much.
Abu Dhabi index lost 6.9 percent and descended to below 4,000 points, and closed at 3892.08 points, while the energy sector lost 8.7 percent, and real estate sector 9.8 per cent. To lose the UAE stock general index today (Dubai, Abu Dhabi) about 6.42 percent at 3381.58 points, down the market value of UAE equities 617.28 billion dirhams, amounting to losses of the UAE stock market value today only 41.89 billion dirhams (11.4 billion dollars). And since the Organization of petroleum exporting countries ' cartel ' on 27 December decision to keep production levels unchanged, swept the GCC stock markets collapses. It lost the index Dubai 31.5 percent, while the Saudi market index lost 19.2 per cent and Abu Dhabi index 18.9 percent. Kevin aboudahesh said economic analyst for the ' French ', ' because this decline is very clear, that the sharp decline in oil prices coupled with a negative Outlook for the global economy '. He said Sebastian nostalgia Chairman Investor asset management national in Abu Dhabi for the ' Reuters ', ' seeing a panic now, and there are factors that support market investors no longer working logic '.
Economic development in Russia and the price of a barrel of Brent North Sea reference 58.5 dollars in trading during trading, the lowest level since May 2009. And the price of a barrel of New York Texas intermediate delegation to 53.8 dollars, oil prices loses nearly 50 percent since June last year. In the Doha market index fell 3.51 percent to 11057.33 points, the market value of stocks lost country today, about 22 billion ($ 6.1 billion) to 611.96 billion compared to 633.99 billion on Tuesday. The market downturn to erase gains made yesterday, and more than 3 percent, the market remains unrealized gains this year at 6.53 percent. In Kuwait decreased price index 2.1 percent to 6170.90 points, the market lost today some 650 million dinars (US $ 2.23 billion) from its market value amounted to 29.02 billion dinars. In the Muscat market index lost 2.9 percent to close at 5409.4 points, lose market value nearly 210 million riyals (545.4 million dollars) at 13.45 billion Omani Rial Omani-13.45 billion Tuesday.
The Bahraini market was closed yesterday in a national holiday and will reopen its doors next Thursday. The Saudi market has dropped its index by 7.3 percent to plunging to 7330 points, missing 575 points, to lose market value nearly 124.6 billion riyals (33.2 billion dollars). The official said the International Monetary Fund at a conference yesterday that falling oil prices would reduce revenues of the Gulf Arabic States, but large financial reserves would make them need to reduce government spending substantially. UAE economy minister Sultan bin Saeed Al Mansouri said that development projects will not be reduced significantly in the coming years, and urged investors to calm. But dismayed investors rapidly falling oil prices, and the Government's unwillingness to intervene to support crude prices.