All Share Index grows 1.8% in Bahrain

All Share Index grows 1.8% in Bahrain

Bahrain Bourse swung into positive territory last month in line with growth in most other global equity markets.

The benchmark All Share Index posted 1.8 per cent growth during July 2023 to close at 1,992.41 points, bouncing back from a marginal decline of 0.3pc during June 2023.

In terms of sectoral performance, the picture was mixed with three out of the seven sector indices giving up gains during the month.

However, the performance of large-weighted indices such as the financials index, the communications services index and the materials index were enough to lift the overall Bahrain All Share Index into the green zone.

The communications services index advanced 2.3pc in July 2023 to close at 2,638.5 points after Beyon recorded 2.7pc share price rise during the month buoying up the sector despite the monthly share price slides recorded by the two other constituent companies in the sector.

Moreover, the financials index registered a 1.9pc gain to close the month at 7,105.3 points.

On the other hand, the real estate index dropped 0.7pc to 2,682.2 points as of end-July 2023 while the industrials and the consumer discretionary indices saw a 0.5pc slide each during the month.

In terms of share price performance, according to Bloomberg data, Al Salam