{"id":115499,"date":"2026-06-03T00:00:00","date_gmt":"2026-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?p=115499"},"modified":"2026-06-03T06:49:01","modified_gmt":"2026-06-03T06:49:01","slug":"bourses-in-the-region-broadly-ended-last-month-close-to-the-flat-line","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/03\/bourses-in-the-region-broadly-ended-last-month-close-to-the-flat-line\/","title":{"rendered":"Bourses in the region broadly ended last month close to the flat line"},"content":{"rendered":"

May was a broadly muted month for the region\u2019s exchanges<\/strong> as continued disruption from the Strait of Hormuz and a shortened trading calendar thanks to Eid Al Adha weighed on markets. With roughly a fifth of the world\u2019s seaborne oil and LNG still routed through a stalled corridor, equities spent the month trading less on domestic fundamentals than on the headlines coming out of the region. <\/p>\n

The result: A cluster of indices that finished close to flat.<\/strong> Bahrain (+0.2%) and Qatar (+0.1%) essentially treaded water, while Casablanca (+1.6%), Egypt (+1.7%), and Kuwait (+1.1%) eked out modest gains. The fewer trading sessions on either side of the Eid break only thinned the volumes that might otherwise have given the month more direction. <\/p>\n

The two outliers on the upside sat well clear of the pack:<\/strong> Tunisia\u2019s Tunindex led the region, gaining 9.4% and extending a run that has made it one of 2026\u2019s standout performers. Tunindex is up 34.5% YTD, powered by financials and a domestic largely insulated from the oil-and-Hormuz narrative dominating the Gulf. Jordan was the next strongest, with the Amman bourse riding similar momentum that brought it up 4.4% last month. <\/p>\n

At the other end, ADX (-0.9%) and DFM (-0.4%) finished in the red<\/strong> \u2014 a notable reversal for two markets that had led GCC gains earlier in the year before war risk and the supply shock began eating into valuations. The UAE\u2019s heavily real-estate-and-financials-weighted indices proved more exposed to the regional risk premium than to any upside from firmer crude, leaving them as the month\u2019s laggards even as oil-leveraged names elsewhere rallied. <\/p>\n

Saudi Arabia captured the month\u2019s split personality.<\/strong> TASI closed the month exactly where it started, ending May down a slim 0.55%. The flat headline hides an unusually messy story underneath: Oil-leveraged cyclicals ripped higher, while the banks that usually anchor the index were dumped. <\/p>\n

\u201cYou had roughly half the market behaving like a commodity derivative and the other half <\/strong>quietly doing its job,<\/strong>\u201d Aseel Al Aranki, research and analysis department manager at River Prime, tells EnterpriseAM. With some 10.5 mn bbl \/ d of regional production shut in, she added, \u201cyou\u2019re no longer just watching oil. You\u2019re watching whether missiles land near Saudi infrastructure.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Tunisia and Jordan were two of the region\u2019s outliers on the upside<\/p>\n","protected":false},"author":1,"featured_media":115500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2649],"tags":[2564,2586,2613,2538,2632,2648,2605,2565,2563,2760,2562],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-115499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-watch","tag-bahrain","tag-capital-markets","tag-egypt","tag-enterpriseam","tag-kuwait","tag-market-watch","tag-morocco","tag-qatar","tag-saudi-arabia","tag-tunisia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"036920a5-6504-4237-b88a-153dfb53403d","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/215.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Muted","related_issue":[115486],"teaser":"Tunisia 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