Qatar leads Gulf stock exchanges in gains, Kuwaiti stocks decline

Qatar Stock Exchange closed higher on Sunday, supported by gains in shares of the communications, energy and finance sectors, while Kuwaiti stocks recorded their lowest level in two months and the industrial and finance sectors suffered the largest losses.

According to Reuters, the index in Qatar rose for the second session in a row and rose 1%, with almost all sectors in the positive zone.

Qatar Gas Transport and Ureed shares rose 1.9% and 3.6%, respectively, and Qatar National Bank, the largest bank in the region, rose 0.7%.

The benchmark index in Kuwait fell 1.3% to close at 7,873 points, its lowest level in two months, with losses recorded in most sectors, led by the industrial and finance sectors.

The shares of the National Bank of Kuwait, the country’s largest bank, fell 2.3 percent, while the shares of Kuwait Finance House fell 1.5 percent.

Other losers included Agility General Warehousing and Gulf Bank. The two stocks fell 3% and 3.6%, respectively.