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GCC markets see March turnaround in fortunes

March has been a month of strong turnaround for the GCC stock markets , latest figures from the Kuwait Financial Centre (Markaz) reveal.

After posting 10 consecutive months of negative returns , the GCC markets posted a 7.9 percent return for March with all indices in positive territory except for Oman, which lost 4.6 percent.

The Kuwait market led the GCC markets by posting a 15 percent return as it reflected a strong showing in the global markets and the Emerging markets.

In March, volume traded in GCC markets was up 12.6 percent to 25.4 billion shares while the value traded fell by 4.3 percent to $34.9 billion.
The UAE market topped the charts in terms of contribution to overall volume traded in the GCC, with 46 percent of the total while Saudi Arabia contributed the most to value traded, with 67 percent of total value traded.

Volatility levels have declined significantly from their peaks in Sept/Oct last year and during March, six out of the 12 markets witnessed an increase in volatility levels with Kuwait and Bahrain continuing to witness low volatility levels.

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