Bahrain equity market sees partial recovery

Bahrain equity market sees partial recovery

Bahrain’s equity market swung to a partial recovery last month after a monthly decline of 2.3 per cent during March, according to Kamco Invest.

The latest monthly report by the Kuwait-based brokerage and research firm shows that the Bahrain Bourse All Share Index was up 0.9 per cent during April to close the month at 1,904.39 points.

In terms of sectoral performance, only three of seven indices recorded gains during the month.

The materials index, which only has one constituent company (Alba), recorded the biggest growth among the indices at 1.9pc during April, becoming the main contributor to the upswing in the overall bourse index.

The financials index followed as the second biggest gainer among the indices, climbing 1.2pc last month to close at 6,837.6 points mainly due to the performance of companies such as Solidarity Bahrain and Al Salam Bank Bahrain which posted monthly share price gains of 12.8pc and 37.5pc, respectively.

On the other hand, the consumer staples sector logged a slide of 6.5pc to close the month at 2,806.5 points while the remaining three indices – communication services, industrials and real estate – all recorded declines of 1.4pc.

In terms of share price performance, Bloomberg data shows Al Salam Bank-Bahrain topped the list