BHB bounces back to post 20.6pc growth

 The Bahrain Bourse (BHB) bounced back last year amidst a broad-based rally across the GCC equity markets, which posted their highest annual return in 14 years.

Analysis by Kuwait-based Kamco Invest shows that the Bahrain All Share Index closed 2021 at 1,797.25 points to notch a growth of 20.6 per cent, after a fall of 7.5pc in 2020.

The bourse ranked fifth in the GCC in terms of yearly returns during 2021.

During the year, the benchmark showed consistent monthly positive performance since April 2021 only to decline marginally in November 2021 by 0.77pc.

However, a gain of 3.9pc during December 2021 more than offset the decline and pushed the index close to a 13-year high level.

Sectoral performance was mixed between gainers and decliners.

The Bahrain Bourse introduced new sectors reporting during the year in line with regional peers.

A 26.2pc rise during 2021 took market cap on the bourse to BD11.8 billion compared with BD10.9bn during 2020.

During the year, the exchange saw gains in nine months that supported the overall performance.

GFH Financial Group lead yearly gainers logging a 105.7pc jump in share price during 2021.

Inovest and Alba followed as the second and third biggest gainers, registering advances of 85.2pc and 55.9pc respectively.

On the decliners side, Nass Corp topped the table with a 16.7pc fall in share price followed by APM Terminal Bahrain and Bahrain Islamic Bank which tumbled 15.2pc and 7.9pc, respectively.

Trading activity at Bahrain Bourse dipped slightly during 2021, with total value traded during 2021 falling by 18.3pc to BD290m from $354.6m during 2020.

Comparatively, total yearly volume traded in the bourse sank 18.3pc to 1bn shares during 2021 from 1.3bn in 2020.

Ahli United Bank topped the yearly value traded chart at BD80.9m followed by GFH Financial Group and Alba which logged BD62.3m and BD32m, respectively.

In terms of volume traded during the year, GFH Financial Group lead the way marking 308.2m of its shares changing hands during the year.

Khaleeji Commercial Bank and Al Salam Bank followed with 157.7m and 109.5m of their respective shares being traded during 2021.

Kamco’s analysis of GCC equity markets shows that the six-nation bloc’s equity market index closed 2021 with a gain of 34.9pc, the biggest gains since 2008.

The aggregate MSCI GCC Index saw gains for 12 consecutive months until November 2021 when it declined by 3.4pc.

However, gains during December 2021 partially offset the trimmed annual increases.

Abu Dhabi was the best performing market amongst prominent equity markets globally with a gain of 68.2pc.

Global markets had an equally exciting year with the MSCI World Index touching a record high in December 2021 but declines during the last two trading sessions of the year partially trimmed the third consecutive year of gains that reached 20.1pc.




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