The usually resilient stock markets in Gulf Arab countries were not immune from the impact of Egypt's ongoing crisis, but despite heavy losses on the opening Sunday, a big regional crash did not occur.
Index losses ranged between 1.32 percent, in the Bahrain Stock Exchange, and 4.32 percent, in the Dubai Financial Market (DFM). The Saudi Stock Exchange, also known as Tadawul, even regained value after plummeting more than 6 percent on Saturday.
On Sunday, the Tadawul index TASI gained 2.47 percent to reach 6,421.97 points. Saudi Arabia's largest petrochemical firm SABIC added 2.8 percent and finished at 101 Saudi riyals (27.27 U.S. dollars).
Dubai's local exchange posted the largest loss in the region. The DFM General Index dived 4.32 percent to close at 1,543.02 points. Dubai's largest real estate developer Emaar Properties plummeted 8.26 percent, closing at 3.11 dirhams (0.84 dollars).
At Dubai's international exchange NASDAQ Dubai, the FTSE NASDAQ Dubai UAE 20 Index closed at 1,666.43 points, off 6.19 percent. Shares of global container port operator DP World closed 6.2 percent lower at 0.62 dollars on low trading volumes.
In Abu Dhabi, the ADX General Index lost 3.68 percent, closing at 2,561.06 points. Abu Dhabi-listed real estate stocks were most affected as investors dumped Aldar Properties, Sorouh Real Estate and RAK Properties, whose shares closed down 8.84 percent at 1.69 dirhams (0.46 dollars), 7.64 percent at 1.34 dirhams (0.37 dollars) , and 7.14 percent at 0.4 dirhams (0.1 dollars) respectively.
Shares of Abu Dhabi National Building and Materials were the only gaining securities, closing 5.16 percent higher at 1.63 dirhams (0.44 dollars).
The Qatar Exchange Index in Doha finished 2.95 percent lower at 8,709.77 points. In Kuwait, the KSE Market or Price Index ended at 6,822 points. Kuwait's largest bank National Bank of Kuwait closed 1.36 percent lower at 1.44 Kuwaiti dinars (5.14 dollars).
Meanwhile, most businessmen from the Gulf oil states have left Egypt as the Internet and mobile phones do not work there continuously.
Index losses ranged between 1.32 percent, in the Bahrain Stock Exchange, and 4.32 percent, in the Dubai Financial Market (DFM). The Saudi Stock Exchange, also known as Tadawul, even regained value after plummeting more than 6 percent on Saturday.
On Sunday, the Tadawul index TASI gained 2.47 percent to reach 6,421.97 points. Saudi Arabia's largest petrochemical firm SABIC added 2.8 percent and finished at 101 Saudi riyals (27.27 U.S. dollars).
Dubai's local exchange posted the largest loss in the region. The DFM General Index dived 4.32 percent to close at 1,543.02 points. Dubai's largest real estate developer Emaar Properties plummeted 8.26 percent, closing at 3.11 dirhams (0.84 dollars).
At Dubai's international exchange NASDAQ Dubai, the FTSE NASDAQ Dubai UAE 20 Index closed at 1,666.43 points, off 6.19 percent. Shares of global container port operator DP World closed 6.2 percent lower at 0.62 dollars on low trading volumes.
In Abu Dhabi, the ADX General Index lost 3.68 percent, closing at 2,561.06 points. Abu Dhabi-listed real estate stocks were most affected as investors dumped Aldar Properties, Sorouh Real Estate and RAK Properties, whose shares closed down 8.84 percent at 1.69 dirhams (0.46 dollars), 7.64 percent at 1.34 dirhams (0.37 dollars) , and 7.14 percent at 0.4 dirhams (0.1 dollars) respectively.
Shares of Abu Dhabi National Building and Materials were the only gaining securities, closing 5.16 percent higher at 1.63 dirhams (0.44 dollars).
The Qatar Exchange Index in Doha finished 2.95 percent lower at 8,709.77 points. In Kuwait, the KSE Market or Price Index ended at 6,822 points. Kuwait's largest bank National Bank of Kuwait closed 1.36 percent lower at 1.44 Kuwaiti dinars (5.14 dollars).
Meanwhile, most businessmen from the Gulf oil states have left Egypt as the Internet and mobile phones do not work there continuously.
