Dubai, Abu Dhabi best-performing GCC markets in August

Dubai, Abu Dhabi best-performing GCC markets in August

While most markets in the region remained range-bound last month and ended with mostly positive performance, the DFM General Index reported gains for the second consecutive month during August-2022

The Dubai Financial Market's benchmark index witnessed the best monthly performance in the GCC with a gain of 3.2 per cent to close at 3,443.1 points. — File photo

Published: Tue 6 Sep 2022, 4:40 PM Last updated: Tue 6 Sep 2022, 4:41 PM

Dubai and Abu Dhabi were the best performing stock markets in the GCC in August with a return of 3.2 per cent and 2.2 per cent respectively as the region’s aggregate index showed flattish performance with a marginal gain of 0.3 per cent, according to a report by Kamco Invest.

While most markets in the region remained range-bound last month and ended with mostly positive performance, the DFM General Index reported gains for the second consecutive month during August-2022. The benchmark witnessed the best monthly performance in the GCC with a gain of 3.2 per cent to close at 3,443.1 points. The index witnessed consistent gains during the first half of the month and remained largely range bound during the second half. However, despite two consecutive months of gains, the index