GCC markets led higher in April tracking global optimism: Kamco Invest

  • Date: 03-May-2021
  • Source: Zawya
  • Sector:Economy
  • Country:Gulf
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GCC markets led higher in April tracking global optimism: Kamco Invest

Abu Dhabi gained for the seventh consecutive month.  The Abu Dhabi Securities Exchange (ADX) Index closed above the psychologically critical 6,000 mark at 6,046.8 points, registering a growth of 2.3 percent, the second-biggest monthly growth in the GCC after Saudi Arabia.

The monthly sector performance chart was almost equally split between gainers and losers. The chart was once again topped by Investment & Financial Services index with a gain of 37.7 percent, driven by 42.2 percent gain in shares of International Holdings Company (IHC).

On the decliner’s side, the Real Estate index reported the biggest monthly decline of 6.2 percent followed by Consumer Staples and Telecom indices with declines of 2.6 percent and 2.1 percent, respectively.