ALBAWABA – The Saudi Exchange, Tadawol, was down on Monday as the Kuwaiti stock exchange mourns the passing of the late Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, Emir of Kuwait.
Several stock exchanges in the Gulf Cooperation Council (GCC) region, including the Boursa Kuwait, announced a three-day closure starting Sunday, according to Reuters, as
Saudi Arabia and Egypt's markets remained open for business.The Saudi Exchange closed 0.5 percent higher on Sunday, driven by hopes of lower interest rates in the United States (US) soon, but has slid 0.38 percent since opening on Monday.
Meanwhile, Egypt’s stock index continued the rally on Monday.
The Kuwait stock exchange and others in the GCC region announced a three-day mourning period on Sunday, while the Saudi Exchange remains open - Shutterstock
Saudi Arabia’s TASI slipped from 11,601 points to 11,559.16 points by 1132 Amman Time, while Egypt’s EGX30 was up 0.77 percent, at 24982.09, having already added 0.3 percent on Sunday.
According to S&P Global, the Dow Jones MENA and S&P Emerging Mid-East & Africa BMI indices were both up 0.25 percent and 0.5 percent, at 703.770 and 266.410, respectively.
Top gainers in the Saudi Exchange included AlBaaha, SACO and MEPCO companies, with the parallel and derivatives markets both in the red.
In terms of sectors, the Saudi transportation sector was up 0.1 percent, while the commercial and professional services, consumer durables and apparel and consumer services were all down.
