The Kuwaiti market came in the lead, recording the highest monthly gains for it in 26 months, led by shares of listed banks, and the Saudi market followed, led by some major sectors such as banks, retail and communications, These rises led to a rise in the index of the total return of Gulf stocks by 4.1%, thus exceeding the growth of the index in the first quarter of 2019 more than 10%, which is the highest level since the fourth quarter of 2016.
These aforementioned gains came, despite the trading in the shares of major companies without profits during the month, and the effect was evident in the general index of Abu Dhabi's decline by 1.2%, and the close Dubai Financial Market Index, little changed, despite the increase in the overall return index of the Emirates by almost 2% during the month.
The KAMCO report stated that, on the other hand, monthly trading activities in the Gulf Cooperation Council countries resumed their rise in almost all markets due to the low comparison bases and the length of the holiday period throughout February. As the total value of shares traded on the Gulf stock exchanges increased by about a third and reached 23.6 billion USD, with the Saudi and Kuwait markets recording the highest monthly increase.
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