Trading activity improved sharply to 4.1m shares compared to a volume of 1.7m shares in the previous week. Trading interest was witnessed across the board as a total of 19 stocks exchanged hands. Out of the active scrips, 7 advanced in value, 4 declined, while the remaining 8 closed unchanged.
Batelco experienced substantial selling pressure throughout the week, which was triggered by the much-awaited announcement regarding the deregulation of Bahrain's telecom sector. Following the surfacing of these details, the stock slid by a substantial 15 fils over the week, dropping below the 600-fils mark to close at 599 fils. Apart from suffering the highest fall, the stock was also the most actively traded stock with a volume of 1.2m shares. Apart from Batelco, other stocks to experience declines were Bahrain Islamic Bank, BBK & Esterad.
After remaining dormant for an extended period of time, the week saw increased trading activity in UGB, which pushed the stock up 4.7% to 156 fils on an impressive volume of 0.6m shares. Other notable stocks to end the week on a positive note were UGIC, Delmon and Bahrain Hotels Co
