Dubai, UAE—While the UAE stock markets posted gains during the week, the Saudi index tanked 0.7 percent, indicating a broad slump in the market.
By the close of trade on Sunday (October 30, 2022), the main TASI index had dropped by 0.6 percent, or the equivalent of 77.2 points, down to 11,632 points, signaling a broad slump in the Saudi Tadawul market.
On Monday, October 31, 2022, TASI gained 0.3 percent, or 35.47 points, to end at 11,667.80, while 11 sectors on the Saudi Stock Exchange, led by insurance, gained 2.15 percent.
On Tuesday, November 1, 2022, the Saudi Stock Exchange Index returned from its hiatus and closed at 11530.44, down 1.1 percent, or 137.36 points. Fifteen of the sixteen sectors on the bourse were down, with the primary materials group declining by 3.5 percent.
On Wednesday (November 2, 2022), the index dropped 0.01 percent, while 14 sectors, led by investment and finance, plummeted by 2 percent on the Saudi Stock Exchange.
The TASI dropped 0.79 percent, or 91.10 points, to finish the trading day on November 3, 2022, at 11439.19 points, and 11 sectors on the Saudi Stock Exchange, lead by public utilities, down by 2.16 percent.
On Monday (October 31, 2022), the main index of the Abu Dhabi securities exchange increased 1.1 percent, gaining 119.81 points, and five sectors, led by utilities, rose 9.5 percent.
While seven sectors on the Abu Dhabi Stock Exchange saw declines of 1.5 percent or more on Tuesday (November 1, 2022), the index still fell by 0.06 percent, dropping 6.82 points to settle at 10,387.2 points. Basic materials led to the decline.
The market recovered on Wednesday (November 3, 2022), adding 0.1 percent, or 12.28 points, to end at 10,399.48.
On Thursday (November 3, 2022), the index dropped by 0.5 percent, while four sectors, led by utilities, dropped by 5 percent.
At the close of trading on Friday (November 4, 2022), the Abu Dhabi Securities Exchange’s main index had increased by 1 percent, or 109.98 points, to 10,454.94 points. Additionally, six sectors rose, led by telecommunications (2.49 percent).
At the close of trade on Monday (October 31, 2022), the general index of the Dubai Financial Market declined by 0.5 percent, losing 17.55 points. Six sectors decreased, led by investment and financial services (-2.4 percent).
On Tuesday (November 1, 2022), the index was down 0.1 percent, and four sectors of the Dubai Stock Exchange decreased, led by real estate (-1.33 percent).
On the other hand, five sectors on the Dubai Stock Exchange grew on Wednesday (November 2, 2022), led by public utilities (1.6 percent). At the same time, the general index of the Dubai Financial Market rose by 0.6 percent, adding 21.96 points.
On Thursday (November 3, 2022), the general index of the Dubai Financial Market declined by 0.5 percent, while six sectors of the Dubai Stock Exchange fell, led by the insurance industry (1.7 percent).
The leading Dubai index ended its weekly trading Friday (November 4, 2022) up by 0.6 percent, and five sectors rose, led by investment and financial services (1.9 percent).