Gulf Bourses & Oil أداء بورصات الخليج

Can we say that Saudi Arabia's Tadawul Index is the most impacted by the decline in oil prices since the last peak in oil prices?  Saudi's Tadawul index fell 4% since the most recent oil peak of May 6^th, followed by Bahrain, Qatar and Kuwait. Abu Dhabi and Dubai bourses are the top performers since early May. 

Saudi Arabia becomes the best perfomer when we chart from January 2nd, using the weekly chart, followed by Dubai and Abu Dhabi. Saudi Arabia's opening of its market to foreign investors in June did help boost the performance.

Interestingly, financial companies account for the biggest share of member firms in the bourses of Saudi, Abu Dhabi and Dubai. Industrials, telecoms and consumer staples follow next, with energy appearing at the bottom half.

Saudi's opening to foreign investors was primarily aimed at drawing institutional investors and reduce the effect volatile impact of local retail investors, whose time horizon is largely short-term.

Click To Enlarge

Click To Enlarge