Bahrain Bourse ends in red amid fragile investor mood

Bahrain Bourse ends in red amid fragile investor mood

The Bahrain Bourse ended March in the red reflecting the regional declining trend suggesting investor confidence remains fragile.

Analysis by Kuwait-based Kamco Invest shows that the benchmark All Share Index closed last month at 1,886.61 points.

In terms of sectoral performance, the materials index, which only has one constituent company, Alba, dominated the rest of the sectoral indices recording a plunge of 17.7 per cent during March 2023 mainly contributing to the fall in the overall index.

The drop reflected a fall in profits for Alba that receded 8.6pc in FY-2022.

The real estate index followed as the second biggest loser among the indices with a slide of 3.3pc decline during March 2023 to close the month at 2,752.3 points mainly due to Seef Properties which recorded a 2.5pc share price fall during the month.

Among the gainers, only two of the seven sectoral indices in the Bahrain Bourse recorded an uptick last month led by the industrial index which saw a 1.7pc increase to close the month at 2,970.3 followed by the communications services index which registered a marginal 0.2pc rise.

The monthly stock performance chart, according to Bloomberg data, was topped by Nass Corp with a 12pc monthly return followed by Bahrain Kuwait Insurance