A look at the closing candles for Arab markets for the past week.
By Markets Chimp
2/17/18 10:21 PM
The EGX 30 scored its first weekly gain after three consecutive weekly losses in the red territory. Despite a hard Tuesday this past week, the index managed to rebound notably on Thursday, thanks to an improved sentiment for equities globally, with volumes sort of picking up in the week. The index closed the week hovering around a psychological resistance level (15,000).
TASI rose considerably last week, gaining 1.45%, despite showing signals of slugging in mid-week trading. Gains were significant on Thursday (+1.22%), closing well above the 7,500 level.
ADSMI closed with losses for the third week in a row, down 0.48% for the week. Despite a strong start on Monday, the index spent the last three trading session in the red territory due to a slowdown in banking stocks. Meanwhile, DFMGI managed to gain marginally last week (+0.14%), the first gain in three weeks, thanks to massive gains on Tuesday.
Qatari stocks bounced lightly last week after two consecutive weeks of declining. However, the Kuwaiti index was the biggest gainer last week, up 1.65% to close at the best level since 29 September 2017.