Markets had a mixed performance with Ramadan in its second week- Al Masah Capital weekly report


Egypt being the star ending the week up by 2.8% and Qatar leading the losing side by 1.2% over the week, followed by Abu Dhabi and Saudi Arabia each by 0.8% and 0.1% respectively

US markets had a positive close for last week, with Dow, Nasdaq and S&P500 reaching their all-time highs, ignoring a recent job report that came below expectations.

Oil on the other hand, ended the week on a negative note, again below the USD 50 mark on the back of the same story of US Shale which will continue to distort the supply/demand picture despite OPEC extending cuts.

On the regional front, with Ramadan in its second week, markets had a mixed performance with Egypt being the star. The Egyptian market managed to end the week up by 2.8% reaching a recent high of 13,467 points after the president ratified the new investment law.

Kuwait came in second in the win column, up by 1.9% over the week, maintaining its YTD returns of 18.5%. Bahrain, Dubai and Oman followed with small gains ending the week up 0.8%, 0.7% and 0.6% respectively.

On the losing side, Qatar came in first, losing 1.2% over the week, followed by Abu Dhabi and Saudi Arabia each by 0.8% and 0.1% respectively. With oil struggling to reach the USD 50 and Ramadan in full swing, markets are expected to stay in a tight trading range unless positive economic or specific company news occurs and changes the current scenario.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,351.73 0.74% 0.37% -5.07%
Abu Dhabi (ADSMI) 4,478.81 -0.84% 1.16% -1.49%
Saudi (SASEIDX) 6,863.62 -0.12% -0.11% -4.81%
Kuwait (KWSE) 6,813.19 1.88% 0.41% 18.53%
Egypt (EGX30) 13,467.29 2.85% 0.96% 9.09%
Qatar (DSM) 9,939.58 -1.20% 0.39% -4.76%
Bahrain (BHSEIDX) 1,325.20 0.84% 0.41% 8.58%
Oman (MSM30) 5,435.41 0.60% 0.25% -6.01%
TR GCC (Reuters) 200.21 0.24% 0.61% -1.18%
DJ MENA 512.11 0.24% 0.29% 2.85%

About Al Masah Capital:

Al Masah Capital is one of the fastest growing alternative asset management and advisory firms focused on the MENA and SEA regions. Established in 2010 Al Masah Capital provides tailored solutions to a broad investor base, offering private equity advisory (across Healthcare, Education, Food & Beverages, Logistics and other consumer driven sectors), asset management, corporate and real estate advisory as well as public market research services.

With operations in Dubai, Abu Dhabi and Singapore, Al Masah advises qualifying investors on growth opportunities in 13 focus markets in MENA and South East Asia.