All the GCC bourses ended the week with heavy losses amid rising cases of coronavirus infections in the region. The Dubai Financial Market plunged by 17.41% to close the week at 2032.12 points. The consumer goods, real estate, and bank sectors declined by 28.81%, 21.53%, and 18.43% respectively. The Abu Dhabi Securities Exchange (ADXGI) fell by 15.53% reaching 3922.18 points on Thursday, compared to 4,643.08 points a week earlier. The banks, real estate, telecommunications, and energy sectors dropped by 16.42%, 14.75%, 11.20%, and 16.51%, respectively. TASI lost 1110.46 points or 14.87% to close the week ended on 12 March at 6357.06 points. Bahrain’s All Share Index tumbled by 11.21% to close at 1436.37 on Thursday. The commercial banks and industries sectors fell by 15.99% and 8.87% respectively. MSM30 Index dipped by 9.11% to close the week at 3733.72 points. The stock market in Kuwait was closed on Thursday as authorities announced a shutdown of government offices for two weeks as a part of precautionary measures against the fast-spreading coronavirus.
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