TASI closes Tuesday’s session 98 points lower at 10,207.17
Date
3/15/2023 3:29:15 AM
(MENAFN) Saudi Arabia’s Tadawul All Share index saw a drop of 97.92 points — or 0.95 percent — to end standing at 10,207.17 on Tuesday as the approaching US banking catastrophe clouded the financers sentiment worldwide.
The failure of Silvergate Bank, Silicon Valley Bank and Signature Bank in the last week has urged an exodus of financers from equities to guarantee havens including gold and bonds.
Stock markets in the Gulf Cooperation Council area also mirrored the rattled investor confidence as Abu Dhabi, Bahrain, Dubai, Abu Dhabi as well as Kuwait were in red even as Muscat ended marginally with increases.
Boursa Kuwait Premier Market Index dropped 231.74 points — or 2.88 percent — to reach 7,827.39, shadowed by Qatar Exchange Index, which dove 192.39 points — or 1.85 percent — to stand at 10,216.03.
Abu Dhabi’s FTSE ADX General Index also took a strong drop as it ended 170.53 points lower — or 1.75 percent — to reach 9,587.31.
Closer to home, the similar market Nomu saw a decrease of 72.77 points — or 0.38 percent — to stand at 18,964.80, even as MSCI Tadawul 30 Index ended unaffected at 1,393.85.
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