«OPEC» decision to pay for the Gulf markets in its first loss

Dubai Financial Market index led losses GCC stock markets at the beginning of the first trading session after OPEC's decision to maintain the production of OECD countries without change, unless oil prices led to severe losses last Thursday. Dubai's index reached the level of 4286 points, after suffering losses of 4.52%, amid active trading during the first few minutes of the start of the session and reached 351 million dirhams. The Abu Dhabi Securities Market Index lost 1.13%, to the level of 4743 points, amid pressure from the majority of the sectors with the exception of the telecommunications sector. US crude oil prices tumbled 10 percent on Friday, the biggest daily loss since more than 5 years and got Brent about $ 70 a barrel amid speculation the morale decline pushed the market to further losses after OPEC's decision not to cut production. And hit all shares traded on the Dubai Financial Market to significant losses, led by blue chip stocks, where, Emaar lost 5% to 10.40 dirhams, and Arabtec to 3.65 dirhams, having lost 8%. Union Properties shares also fell more than 8.7%, to 1.36 dirhams, Emaar Malls 2.03%, to 2.9 dirhams. The contract price fell WTI US light to $ 7.54 to $ 66.15 a barrel at the settlement continued to decline after reaching the lowest level in four years, to $ 65.69. The Kuwait Stock Exchange Index fell 1.98%, 1.39% and Qatar, while the Muscat Stock Exchange index lost 2.45%.