The US Federal Reserve’s decision of raising interest rate 0.25% triggered a mixed reaction among Gulf bourses, as UAE, Saudi and Qatar exchanges were gainers, as opposed to Kuwait and Muscat which closed in the red zone, while Bahrain Bourse was closed on National Holiday.
DFM topped the three gaining markets by 2.92% on Thursday, followed by Tadawul, ADX, and QSE which rose by 2.61%, 2.05%, and 0.52% respectively.
Meanwhile, MSM fell by 0.05%, followed by KSE which lost 0.02%.
This performance followed the decision of four Gulf central banks to increase interest rates.DFM gained 2.92% or 87.2 points to close at 3,073 points, the highest level since August.
The Saudi bourse rose by 2.61% or 178 points, hitting the highest level in four months when the index advanced 2.98% in August.
ADX levelled up 2.05% or 83.15 points to close at 4,148.29 points,a three-month high.
QSE continued to rise for the fourth successive session by reaching 9,912.92 points after gaining 0.52% or 50.9 points.
A couple of analysts polled by Mubasher earlier expected a fractional increase in the Gulf markets, buoyed up by stronger U.S. and European indices that the experts said will be contagious to the Gulf investors.
On the other hand, MSM ended the week in the red zone by losing 0.05% or 2.68 points to close at 5,359.30 points.
Also, the benchmark index of KSE inched down 0.02% or 0.91 points to close at 5,632.69 points on Thursday. The weighted index retreated 0.16% or 0.6 points to reach 381.4 points. Also, Kuwait-15 index fell by 0.17% or 1.5 points to 902.16 points.
