GCC equity markets recover in Q4 after Covid shock
MANAMA, January 3, 2021 GCC equity markets underperformed their global peers and witnessed mixed performances across individual stock exchanges in the region for the bulk of 2020, but recovered during the fourth quarter (Q4) of the year, a report said. Volatility in the GCC equity market was the highest in four years with 49 days when the markets moved more than 1% during the year as compared to 37 days in 2019 said Kuwait-based Kamco Invest, a non-banking financial powerhouse, in its “GCC Markets: 2020” report. The aggregate MSCI GCC index reported a yearly decline for the first time in five years and was affected by twin dilemmas during the year. On one hand, governments had to impose Covid-19 restrictions that resulted in one of the most severe impact on the economic front with an expected 2.7% decline in GDP rates for the GCC region, as per the IMF.
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Oman s share index gains
By: ONA
Muscat: Muscat Securities Market (MSM) general index (30) added 5.4 points, comprising a rise by 0.15 per cent to close at 3,658.77 points on Thursday, compared to the last session.
The trading value stood at OMR1.64 million, comprising a decline by 5.5 per cent, compared to the last session.
The report released by MSM pointed out that the market value rose by 0.159 per cent to reach about OMR20.24 billion.
The report added that the value of shares bought by non-Omani investors reached OMR309,000 while the value of shares sold by non-Omani investors reached OMR521,000.
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