GCC Index ‘declines in 2022’ led by Qatar and Saudi Arabia

GCC Index ‘declines in 2022’ led by Qatar and Saudi Arabia

GCC equity market index closed 2022 with a decline of 6.4% after demonstrating one of the biggest gains globally last year.

Qatar reported the biggest decline during 2022 with the DSM Index receding 8.1% followed by Saudi Arabia that dropped by 7.1%. This was the first decline in the Saudi index after six consecutive years of gains, said Kamco Invest, a premier investment company based in Kuwait.

On the other hand, Abu Dhabi was once again the best performing market in the GCC with a gain of 20.3% followed by Oman and Bahrain with gains of 17.6% and 5.5%, respectively.

Bahrain Bourse All Share Index

The Bahrain Bourse All Share Index witnessed its second consecutive yearly growth registering a 5.5% rise in 2022 that came after a healthy growth of 20.6% in 2021. The index wrapped the year at 1,895.27 points ranking third in the GCC in terms of yearly returns during 2022.

During the year, the benchmark reached a 14-year high level during March-2022 at 2,122.51 points but consistent declines during Q2-2022 pushed the index down to a yearly low of 1,806.3 points at the end of June-2022.

Q3-2022 showed gains but the last quarter was largely subdued only to see gains towards the end