GCC stock markets succumbed to coronavirus, weak Q3 results in October

GCC stock markets succumbed to coronavirus, weak Q3 results in October

In terms of year-to-date (YTD) returns, the October decline once again pushed all the GCC equity markets back in the red with DFM showing the biggest drop of 21 percent, while Saudi Arabia's TASI showed the smallest decline of 5.7 percent.Sector-wise too there was a broad-based decline with only defensive sectors showing gains during the month.UAE In terms of country performance, the UAE benchmarks ended the month mixed. The Abu Dhabi Securities Exchange (ADX) Index was the only market in the GCC to close on a positive note. Dubai Financial Market (DFM) General Index fell after two consecutive months of gains.The DFM General Index fell 3.8 percent lower month-on-month (m-o-m) at 2187.90 points with all sectors showing declines.The Consumer Staples index topped the decliners as it fell 13 percent. The