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The Composite Index of the Arab Monetary Fund for the Arab financial markets ended the transactions of the month of June 2023 at the level of 484.43 points, an increase of about 0.08%, equivalent to 0.40 points, compared to its value recorded at the end of May 2023, due to the increase in the majority of performance indicators.
Arab stock exchanges included in the composite index. In light of the foregoing, ten Arab stock exchanges included in the composite index of the Arab Monetary Fund witnessed an increase in their performance indicators, compared to a decrease in four stock exchanges in June 2023.
The Dubai Financial Market led the ascending movement recorded at the level of Arab stock exchanges, with its index rising by 6.02%, as a result of improved trading activity in the indices of the consumer services, real estate and industry sectors, which enhanced market activity and raised liquidity levels. The indices of the stock exchanges of Saudi Arabia, Casablanca, and Iraq increased by 4.04, 4.80, and 5.47%, respectively. The stock exchanges of Kuwait, Muscat, Tunisia, and Abu Dhabi witnessed increases that ranged between 1.53 and 3.43%. While the Egyptian and Palestinian stock exchanges recorded an improvement of less than 1%.
The results of the semi-annual review that took place during June 2023 of the FTSE Russell indices, which resulted in the joining of new Arab companies within its indices, contributed to the improvement of performance indicators in a number of Arab stock exchanges.
In the same context, the improvement in foreign investment activity, both individual and institutional, enhanced the performance indicators of a number of Arab stock exchanges. In the same context, the continuation of the Arab stock exchanges’ endeavors towards expanding the base of the main markets, and the stock exchanges of small and medium companies through the new listings that took place during the month of June 2023, had a role that contributed to supporting the Arab stock exchanges and raising the levels of liquidity in a number of them.
The improvement in the performance of the majority of Arab stock exchange indices in June 2023 came in line with the gains recorded by the financial markets.
Global, especially American ones, in addition to a number of European and emerging markets, which recorded an increase in their performance indicators in line with the state of optimism that prevailed in the US financial markets against the backdrop of decisions issued by the US Federal Bank, which resulted in positive decisions related to raising the US public debt ceiling. In addition to the decision to fix interest rates, and the subsequent similar decisions issued by a number of international and Arab central banks.
Market value
In terms of the market value of the Arab financial markets listed in the Arab Monetary Fund’s composite index database, it achieved gains of about 2.63% at the end of June, compared to the end of May 2023, as it recorded an improvement in ten Arab stock exchanges, compared to a decrease in four other Arab stock exchanges. The Dubai Financial Market topped the Arab stock exchanges in terms of the recorded increase in the market value, as the market index increased by 5.07%. The Casablanca Stock Exchange also witnessed an increase of about 4.62%, and the stock exchanges of Kuwait, Abu Dhabi, Saudi Arabia, Tunisia, Egypt and Muscat recorded an increase that ranged between 1.21 and 3.44%. While the Palestine and Damascus stock exchanges witnessed an improvement of less than 1%.
Transaction value
And at the level of the value of trading in the Arab stock exchanges, the month of June 2023 witnessed a decline in the value of trading in the Arab financial markets listed in the Arab Monetary Fund database by 25.17%, compared to their levels recorded at the end of May of 2023, as a result of a decrease in the trading value of nine Arab stock exchanges, while Five other Arab stock exchanges recorded an increase during the same month.
The Beirut Stock Exchange led the Arab stock exchanges in terms of turnover, recording an increase of 119.78%. as
The Damascus Stock Exchange recorded an increase of about 80%. The stock exchanges of Egypt, Dubai and Palestine also witnessed an increase of 7.16, 7.23 and 19.36%, respectively.
trading volume
In terms of trading volume on Arab stock exchanges, it recorded a decline of about 21.87% at the end of June 2023.
As a result of the decrease in trading volume in eight Arab stock exchanges, compared to an increase in seven Arab stock exchanges at the end of last month.
The Damascus Stock Exchange topped the Arab stock exchanges in terms of trading volumes by about 69.15%.
The stock exchanges of Casablanca, Egypt, and Beirut increased by rates of 25.05, 30.14, and 41.50%, respectively. The stock exchanges of Palestine, Kuwait and Dubai witnessed an increase of about 13.57, 14.50 and 16.09%, respectively.
