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ZAWYA-SNG: Bahrain: Stocks close on positive note as financial sector dominates trading
ZAWYA-SNG: Bahrain: Stocks close on positive note as financial sector dominates trading
About this update from Al Rajhi Bank
Staff WriterThe Bahrain All Share Index closed on a positive note yesterday, gaining 3.93 points to end the session at 2,066.10 points.The 0.19 per cent increase in the main index was supported by a parallel rise in the Bahrain Islamic Index, which climbed 1.81 points (0.18pc) to settle at 1,028.20 points.Data from the Tuesday session showed that investors traded 3.41 million shares worth BD1.02m across 93 transactions.The financial sector emerged as the primary driver of market activity, accounting for a commanding 60.10pc of the total trading value. Shares worth BD614,740 in the sector changed hands through 41 deals, involving 2.52m shares.GFH Financial Group topped the list of most active companies by value. The group saw 2.23m of its shares traded for BD520,351 in 22 transactions, representing 50.87pc of the day’s total turnover.Alba followed in second place with a trading value of BD209,134. Approximately 190,490 Alba shares were traded across 26 deals, making up 20.45pc of the total market value.Trafco Group rounded out the top three, with BD159,000 worth of shares traded in three transactions involving 600,000 shares.Of the 18 companies active during the session, nine saw their share prices rise while four declined. The remaining five companies maintained their previous closing levels.Meanwhile, most Gulf stock markets reversed early losses to close higher yesterday, supported by stabilising oil prices.Saudi Arabia’s benchmark index gained 0.4pc, helped by a 2.2pc rise in the country’s biggest lender Saudi National Bank and a 0.4pc increase in Al Rajhi Bank. Sentiment was bolstered by a recent rebound in oil prices as geopolitical risks resurfaced. However, the medium-term outlook of a projected supply surplus in 2026 continues to weigh on the sustainability of this rally, said Joseph Dahrieh, Managing Principal at Tickmill. “Additionally, market sentiment improved as investors priced in further Fed rate cuts for 2026.”Dubai’s main share index edged 0.1pc higher, with top lender Emirates NBD rising 0.5pc. The Abu Dhabi index rose 0.2pc. Meanwhile, markets are now anticipating two rate cuts in 2026, with expectations for looser monetary policy strengthened by reports that President Donald Trump may appoint a new Federal Reserve chair early next year.The Qatari index added 0.2pc, with Qatar National Bank , the Gulf’s biggest lender by assets, finish...