Gulf stocks nosedive after oil prices crash

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	188,380.39 423.53M	0.09% 177.53
ALLSHR	112,632.58 952.35M	0.19% 209.35
KSE30	58,032.20 111.39M	0.13% 75.72
KMI30	267,197.87 107.19M	-0.07% -177.46
KMIALLSHR	72,476.12 511.85M	0.16% 112.92
BKTi	53,757.31 35.30M	0.51% 271.34
OGTi	39,295.91 17.16M	0.97% 379.30

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,000.00	90,150.00 88,770.00	610.00 0.68%
BRENT CRUDE	67.62	68.16 67.12	0.05 0.07%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.35 -2.64%
ROTTERDAM COAL MONTHLY	99.00	0.00 0.00	0.50 0.51%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.53	63.00 62.07	0.14 0.22%
SUGAR #11 WORLD	14.72	14.87 14.69	-0.11 -0.74%