Most markets pared losses late last week
Gulf stock bets this week on continued expansion in spending
Watching Gulf stock markets this week, what comes out of the governments of their countries about the continued expansion of spending in spite of declines in global oil prices recently, and developments in the world oil markets after the latter increased by 5 per cent during the past week, as investors are watching in those markets stabilize world oil prices and complete recovery.
In the Dubai market waiting for another wave of ups after the index last weekend record level of 13 per cent rise, but the outcome of last week in Dubai were losses in excess of 4.7 per cent, losing 168 points, dropped it to the level of 3426.7 points, its index fifth weekly decline on respectively, trimmed gains after Thursday's session of weekly losses significantly.
The recovery of the real estate sector contributed to the end of last week to bring optimism back to the market, which have tumbled in recent weeks, missed all the gains achieved during the year and turned into losses, but the rise last Thursday returned again to profitability, the longer the recovery of global oil prices, with the recovery of the real estate sector is investors are betting it in Dubai, especially after the market rebound over the strong technical indicators support height.
In Abu Dhabi, the market index ended last week on a slight losses after the improvement that the market experienced during the sessions Tuesday, Wednesday and Thursday; to compensate for a large part of the beginning of the week's losses, to record the general index declined by 0.07 per cent lacking 3.12 points from its value reached out to the level of 4365.19 points.
In Qatar, the market is looking forward to this week continue to rise after the optimism that the market ended last week after strong losses amounted to 8.25 per cent over the week to lose the general index value of 1158.2 points, fell to the level of 11181.65 points.
In Kuwait, the price index was recorded last week, a decline of 3.62 percent, losing about loss of 233.7 points tally after arriving to the level of 6230.09 points, while the weighted index ended the week at 416.81 points, down by 4.77 per cent.
The MSM has lost last week, losing 2.12 per cent towards the 122.87-point penalty, up to the level of 5684.68 points, after two sessions of gains Wednesday and Thursday succeeded in alleviating weekly declines.
In Bahrain, the market lost during last week's 0.05 per cent during the three only to crash the stock market sessions on Tuesday and Wednesday on the occasion of the National Day, and trimmed gains Thursday the general index of the Stock Exchange losses to end the weekly close at 1389.96 points.
It is noteworthy that the GCC markets had seen a jump in the end of last week's session with the support of the recovery in world oil prices amid statements made by officials in Saudi Arabia, UAE, Kuwait and Qatar about the continued spending plans in the new budgets to recover five GCC markets (Saudi Arabia, UAE, Kuwait, Oman, Bahrain ) about $ 79 billion (267 billion Saudi riyals), where the market in Qatar official holiday last Thursday.