The Gulf stock markets witnessed large-scale gains in June 2020, albeit at marginal levels compared to that of the world. All Gulf markets succeeded in ending the June trading, with the exception of the Muscat Securities Market.
The volatility of regional markets has declined over the past month, as investors remain cautious against the backdrop of the effects of the emerging Corona Virus outbreak (COFED 19).
Although the Gulf stock markets recorded consecutive monthly gains, they are still in the red region in terms of the performance of the first half of 2020, registering a decrease of 15.7%, as The gains it achieved during the second quarter of this year by 12% are sufficient to compensate for its decline of 25% in the first quarter of the year.
Transport sector tops gains ... and monthly insurance losses
In terms of performance of different market sectors, the gains came in a wide range and covered almost all sectors except the insurance sector, which recorded a monthly loss of 1.3%.
The transportation sector index in the lead came with the largest monthly gains against the background of prospects for economic openness in the near term, which contributed to enhancing the performance of sectors that were more affected over the months The past few including the cyclical consumer sectors, real estate, industry and basic materials.
However, despite this, with regard to sectoral performance during the first half of the year 2020, only the defense sectors such as food and beverages and non-periodic consumer sectors were able to achieve Gains, while financial services sectors suffered the highest level of losses.
The second wave of Corona push the global markets to retreat
Global markets continued to perform well until the second week of June 2020 and then retreated during the remainder of the month due to concerns related to the second wave of the outbreak of the Corona virus; Which prompted ...
