Situation worsens on Gulf exchanges

The Dubai Financial Market on Tuesday lost 182.64 points, or 5.14%, to close on 3,369. Among the day’s big losers were Arabtec, down 12.09%, and Tamweel, which dipped 10.48%. The Abu Dhabi Securities Exchange also fell sharply, down 162.87 points, or 4.58%, to end the day on 3,395.
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For third consecutive post-Eid session, Gulf bourses continued to post heavy losses after pressure from the international crisis and selling by foreign portfolios. Despite international markets closing up yesterday, local markets refused to follow same pattern. Muscat was the biggest loser going down 7.2% followed by Tadawul 7%, Dubai 5.1%, ADX 4.5%, Kuwait 2.7%, Doha 1.5% while Bahrain lost the least, only going down by 1.5%.