Gulf stocks nosedive after oil prices crash

By MG News | March 09, 2020 at 11:54 AM GMT+05:00

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March 9, 2020: Stock markets in the energy-rich Gulf states nosedived at the start of trading Monday after oil prices crashed amid a price war in the global market.

Kuwait's Premier index tumbled 9.5 percent and trading was suspended, while Dubai Financial Market dropped 9.0 percent and Abu Dhabi Securities Exchange shedded 7.1 percent.

Oil prices crashed at the opening on Monday after OPEC and its allies failed to reach an agreement on production cuts.

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Name	Price/Vol	%Chg/NChg
KSE100	129,428.72 49.97M	0.96% 1229.29
ALLSHR	80,561.34 150.40M	0.97% 773.71
KSE30	39,533.77 19.13M	1.10% 428.78
KMI30	188,591.34 18.37M	0.90% 1675.73
KMIALLSHR	54,622.27 63.62M	0.78% 420.39
BKTi	34,165.26 10.74M	2.06% 688.58
OGTi	28,116.60 1.21M	0.55% 154.02

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	106,610.00	106,610.00 105,440.00	860.00 0.81%
BRENT CRUDE	67.16	67.29 67.05	0.05 0.07%
RICHARDS BAY COAL MONTHLY	97.50	97.50 97.50	0.70 0.72%
ROTTERDAM COAL MONTHLY	103.80	103.80 103.80	-3.45 -3.22%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.46	65.65 65.34	0.01 0.02%
SUGAR #11 WORLD	15.70	16.21 15.55	-0.50 -3.09%