Markaz: GCC markets end 2021 on a positive note; Oil jumps 10% in December on easing Omicron concerns

Markaz: GCC markets end 2021 on a positive note; Oil jumps 10% in December on easing Omicron concerns

(MENAFN- TRACCS) Kuwait, January 03, 2022: Kuwait Financial Centre "Markaz" recently released its Monthly Market Review report for the month of December 2021. Markaz report noted that Kuwait's equity market had registered gains, supported by easing of concerns over the severity of Omicron variant and rise in oil prices. Kuwait All Share index has gained 3. 7% for the month, extending its yearly gains to 27. 0%. Among sectors, Boursa Kuwait's Consumer Discretionary sector was the top gainer, rising 9. 9% for the month, followed by Financial Services at 5. 5%. Technology sector index declined the most, falling 7. 8% for the month. Boursa Kuwait's banking sector index was up by 4. 2% in December. Among Premier Market stocks, Burgan Bank and Gulf Bank were the top gainers during the month, rising 16. 2% and 14. 3% respectively. Regionally, S&P GCC composite index rose by 4. 0% for the month, logging a 31. 4% gain for 2021. Reports on lower severity of Omicron variant supported the markets despite countries imposing restrictions amid continued spread of the COVID-19 variant. Saudi Arabia was the top gainer for the month, increasing by 4. 8%, followed by Dubai, which gained 4. 0%. Saudi Arabia