Bahrain All Share Index closed at 2,050.66 points yesterday, marking an increase of 6.19 points above the previous closing.
This increase was due to a rise in the financial sector and the material sector.
Bahrain Islamic Index closed at 1,002.26 points, marking an increase of 4.97 points above the previous closing.
Results indicated that 142 equity transactions took place with a volume of 5,376,030 worth BD1,722,147.
Investors traded mainly in the financial sector, representing 60.97 per cent of the total value of securities traded.
Most stock markets in the Gulf ended higher yesterday, buoyed by growing expectations of a US Federal Reserve interest rate cut next week.
Investors absorbed the latest US inflation data and adjusted their bets, strengthening expectations for a Federal Reserve rate cut at the policy meeting tomorrow and on Wednesday.
US consumer spending rose only modestly in September, following three months of robust growth, pointing to waning economic momentum late in the third quarter as a sluggish job market and elevated living costs restrained household demand.
Traders are now assigning an 87 per cent probability, based on CME Group’s FedWatch Tool, to a 25-basis-point rate cut by the Federal Reserve next week.
Saudi Arabia’s benchmark index TASI edged 0.1pc higher, helped by a 2.6pc rise in Riyad Bank. In Qatar, the index however, eased 0.1pc.