The Bahrain All Share Index closed on a positive note yesterday, gaining 3.93 points to end the session at 2,066.10 points.

The 0.19 per cent increase in the main index was supported by a parallel rise in the Bahrain Islamic Index, which climbed 1.81 points (0.18pc) to settle at 1,028.20 points.

Data from the Tuesday session showed that investors traded 3.41 million shares worth BD1.02m across 93 transactions.

The financial sector emerged as the primary driver of market activity, accounting for a commanding 60.10pc of the total trading value. Shares worth BD614,740 in the sector changed hands through 41 deals, involving 2.52m shares.

GFH Financial Group topped the list of most active companies by value. The group saw 2.23m of its shares traded for BD520,351 in 22 transactions, representing 50.87pc of the day’s total turnover.

Alba followed in second place with a trading value of BD209,134. Approximately 190,490 Alba shares were traded across 26 deals, making up 20.45pc of the total market value.

Trafco Group rounded out the top three, with BD159,000 worth of shares traded in three transactions involving 600,000 shares.

Of the 18 companies active during the session, nine saw their share prices rise while four declined. The remaining five companies maintained their previous closing levels.

Meanwhile, most Gulf stock markets reversed early losses to close higher yesterday, supported by stabilising oil prices.

Saudi Arabia’s benchmark index gained ‌0.4pc, helped by a 2.2pc rise in the country’s biggest lender Saudi National Bank and a 0.4pc increase in Al Rajhi Bank. Sentiment was bolstered by a recent rebound in oil prices as geopolitical risks resurfaced. However, the medium-term outlook of a projected supply surplus in 2026 continues to weigh on the sustainability of this rally, said Joseph Dahrieh, Managing Principal at Tickmill. “Additionally, market sentiment improved as investors priced in further Fed rate cuts for 2026.”

Dubai’s main share index edged 0.1pc higher, with top lender Emirates NBD rising 0.5pc. The Abu Dhabi index rose 0.2pc. Meanwhile, markets are now anticipating two rate cuts in 2026, with expectations for looser monetary policy strengthened by reports that President Donald Trump may appoint a new Federal Reserve chair early next year.

The Qatari index added 0.2pc, with Qatar National Bank , the Gulf’s biggest lender by assets, finished 0.6pc higher.

Outside the Gulf, Egypt’s blue-chip index ended 0.8pc higher, with top lender Commercial International Bank putting on 2.1pc. The International Monetary Fund said yesterday it had reached a staff-level agreement with Egypt on the ‌fifth and sixth reviews under its Extended Fund Facility arrangement, potentially unlocking a roughly $2.5 billion disbursement under the programme.

Major global stock indexes were up slightly and Treasury yields rose yesterday after stronger-than-expected US economic data, while the yen shot up after warnings from Tokyo on its readiness to support the battered currency.

The pan-European STOXX 600 index briefly hit a record high on gains in the healthcare sector, after heavyweight Novo Nordisk secured US approval of its weight-loss pill.

Silver hit a record high above $70 an ounce, while gold also touched a record.

Data showed the US economy grew faster than expected in the third quarter, driven by robust consumer spending. Early estimates showed gross domestic product increased at a 4.3pc annualised rate last quarter, far above economists’ forecast for a rise at a 3.3pc pace, according to a Reuters poll.

“We’re still in this period of playing catch-up with economic data and GDP is dated... But it’s showing strength in the economy, and strength that’s above expectations,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.

US economic releases have been delayed by a record federal government shutdown.

The Dow Jones Industrial Average rose 44.14 points, or 0.09pc, to 48,406.82, the S&P 500 rose 5.95 points, or 0.09pc, to 6,884.37 and the Nasdaq Composite rose 7.37 points, or 0.03pc, to 23,435.22.

MSCI’s gauge of stocks across the globe rose 2.31 points, or 0.23pc, to 1,017.80.

The pan-European STOXX 600 index was last up 0.4pc. Japan’s blue-chip Nikkei closed little changed on the day.

Novo Nordisk shares rallied yesterday after the US Food and Drug Administration approved its weight-loss pill, giving the Danish drugmaker a competitive edge in the fast-evolving obesity treatment market.

The approval positions Novo Nordisk ahead in the race for a potent oral weight-loss medication as it works to recover market share lost to Eli Lilly.

The yield on 10-year Treasury notes was last up 2.71 basis points (bps) at 4.198pc. The US dollar curbed its losses against the yen and euro after the US economic growth data, which reinforced expectations the Federal Reserve will pause cutting rates at its January meeting.

The yen was firm as investors weighed the odds of an imminent intervention from Japanese authorities to shore up the currency.

Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama said yesterday, issuing the strongest warning so far about Tokyo’s readiness to intervene in the market to arrest sharp declines in the currency.

The Japanese yen strengthened 0.55pc against the greenback to 156.21 per dollar. The euro was up 0.12pc at $1.1775, while the dollar index was last down 0.19pc at 98.05.

While the BOJ raised rates at its December policy meeting on Friday, the move was widely expected and Governor Kazuo Ueda offered few hints on the extent of future rate hikes.

The dollar slipped against other major currencies, with the euro up 0.3pc at $1.1795 and sterling 0.4pc higher at $1.3514.

Silver extended its record rally and hit the key $70 an ounce mark, while gold cut gains after setting an all-time high.

Spot silver rose 0.7pc at $69.48 per ounce after touching a record high earlier. Spot gold was flat at $4,445.36.

US crude fell 0.24pc to $57.88 a barrel and Brent fell to $61.87 per barrel, down 0.32pc on the day.

China’s blue-chip CSI300 index rose 0.2pc. China will step up urban renewal and deepen efforts to stabilise its property market in 2026 as it prepares to launch its latest Five-Year Plan, according to a readout of a housing policy work conference released yesterday.

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