The Saudi Stock Exchange’s main index TASI started and ended the week with a 0.5 percent rise despite the fluctuation.
For their part, the United Arab Emirates’ stock exchanges rallied after losing ground early on.
The Dubai index posted a record weekly gain and the Abu Dhabi index rose for the sixth session in a row.
Uneven week for Saudi exchange
Al-Rajhi Bank and Riyad Bank led the Saudi index higher on Sunday, February 6, as both saw their shares rise by 0.5 percent.
Shares in basic materials and energy companies helped lift the index 0.4 percent on Monday, but it fell 0.2 percent on Tuesday.
TASI continued its fall on Wednesday, this time by 0.2 percent, as it offset losses in the financial sector with increases in the telecommunications industry.
However, on Thursday, the index finished the week with a gain of 0.5 percent.
Good performance at ADX
The main stock index in Abu Dhabi closed unchanged on Monday, February 7, while on Tuesday it rose 0.5 percent, achieving gains for the third consecutive session, with the first Abu Dhabi Bank’s share increasing 0.6 percent.
The index continued its rise on Wednesday, by 0.7 percent, and Thursday, by 1 percent, recording the best daily performance since January 19, 2022.
The Abu Dhabi index ended the week on Friday by increasing 0.8 percent, extending its gains for the sixth consecutive session.
Dubai index sees big gains
The Dubai index started its week up by 0.6 percent on Monday, February 7, supported by gains in the shares of Emirates NBD and Dubai Investments.
On Tuesday (February 8, 2022), it continued to rise, this time by 0.7 percent.
The index rose on Wednesday as well, by 1 percent, recording the most significant one-day gain in percentage terms in about three weeks.
The index rose by 0.2 percent on Thursday due to the rise in the financial sector shares.
It ended the week on Friday by rising by 0.2 percent.
It recorded its most significant weekly gain since December 17, 2021, led by a 1.2 percent increase for Emaar Properties and an advance by Emirates NBD Bank by 0.4 percent.