Arab Today, arab today gulf stocks rise after selloff over oil prices
Last Updated : GMT 07:44:27
Arab Today, arab today
Arab Today, arab today

Gulf stocks rise after sell-off over oil prices

Arab Today, arab today

Arab Today, arab today Gulf stocks rise after sell-off over oil prices

Saudi stocks
Dubai - AFP

Stock markets in the Gulf on Tuesday recovered some of the heavy losses suffered this week due to a panic sell-off sparked by falling oil prices.

Saudi Arabia's Tadawul All-Shares Index rebounded by 7.38 percent to close at 7,543.05 points after shedding 5.88 percent on Monday and 6.86 percent on Sunday.

Petrochemicals shares led the comeback, surging 8.68 percent by the end of trading. The sector had shed 7.94 percent and 7.26 percent on Sunday and Monday respectively.

Dubai's DFM Index rose 4.61 percent to end at 3,558.37 points after shedding 6.96 percent on Sunday. Market leader Emaar Properties gained 3.43 percent after losing 8.31 percent on Sunday.

Arabtec Construction group, whose stocks dropped a 9.6 percent on Sunday, nearing its 10-percent daily limit, recovered by 9.94 percent on Tuesday.

"The reason behind the recovery is that the drops were exaggerated, accompanied by panic triggered by sales forced through margin calls," said financial analyst Wadah Taha.

This prompted panic selling among other investors, he said, adding that the sharp falls had "created golden opportunities" for bargain-hunters.

The Abu Dhabi Securities Exchange, which plunged five percent on Sunday and half a percentage point on Monday, rose 1.63 percent on Tuesday.

Qatar Exchange, the second largest in the Gulf, also rebounded 3.15 percent after two days of losses.

The falls across the oil-rich region came after crude prices slid to new lows Friday and world stock markets were hammered with heavy losses over China's economic woes.

European and US markets rebounded on Tuesday as investors sought bargains after China cut interest rates.

Oil prices also recovered slightly after tumbling Monday to 6.5-year lows on heightened fears over a potential Chinese economic slowdown.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf stocks rise after selloff over oil prices Arab Today, arab today gulf stocks rise after selloff over oil prices

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf stocks rise after selloff over oil prices Arab Today, arab today gulf stocks rise after selloff over oil prices

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 05:54 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday