Dubai Financial Market Leads Gulf Stock Markets in September for the 6th month.
The Dubai Financial Market led the rise in major Gulf stock market indices in September by 2%.
Since it is continuing its upward trend for the sixth consecutive month.
While the Morgan Stanley Gulf Index fell 2.7% this month, wiping out its gains for the year.
Dubai Financial Market took the top position in the gulf.
Moreover, Dubai continued to achieve good gains of 24.8% year-to-date.
While Saudi Arabia and Bahrain followed Dubai with gains of 5.5% and 2.3%, respectively.
The rest of the Gulf markets ended the month in the red zone.
On the basis of sector performance.
Most Gulf indices were in the red zone in September 2023.
Including banks, which fell 3.8%. On the other hand.
While the winning sectors were very limited.
But included real estate and energy, with gains of 2.4% and 1.6%, respectively.
Factors that affected the performance of Gulf markets
Factors that affected the performance of gulf markets concerns rising inflation and global interest rates.
In addition to the falling crude oil prices.
And also the weak performance of global markets.
Outlook for Gulf markets in the coming months
In fact, Gulf markets are expected to continue to perform volatile in the coming months.
Because they are facing a number of challenges.
Including rising inflation and global interest rates, and weak performance of global markets.
However, there are still a number of positive factors that could support the performance of Gulf markets.
Including strong economic growth in the region and rising crude oil prices.
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