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02-06-22
GCC equity markets witness massive declines in May
(MENAFN) GCC equity markets witnessed massive decreases last month on panic trade as shareholders took their signal from worldwide markets, however, there was some revenue booking too as estimates were raised across the district.
All markets recorded decreases throughout the month with Dubai falling the most--10 percent--shadowed by Bahrain and Kuwait with decreases of more than 6 percent, as mentioned in a report by Kamco Invest.
The MSCI GCC index closed off the month with a drop of 7.5 percent.
Nevertheless, the GCC aggregate index stayed in the positive territory in relations of year-to-date (YTD) performance, increasing 12 percent, with increases for all the seven benchmark.
In terms of division performance, the decreases were caused by strong divisions, while only the GCC F&B index displayed visible increases throughout the month at 2.7 percent and the Energy index was increased by lower than one percent.
MENAFN02062022000045014228ID1104313388
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