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Pandemic Resistant GCC Stocks

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Executive Summary

GCC stocks that thrived despite the COVID-19 pandemic
  • 2020 has been a difficult year for GCC Stock markets and companies
  • The benchmark index, S&P GCC Composite has lost 15% for the year till date1 despite a recovery in the past two months. In the midst of the pandemic, a minority of GCC Companies have outperformed the index.
  • They tend to be in sectors considered essential like consumer non-cyclicals (comprises of food and retail businesses), utilities, healthcare, telecom etc.
  • Many of the companies in these sectors have seen their revenues and net income increase in the first quarter of this year over last year.
  • How are commodities shaping up during this pandemic?
  • All of these sectors are driven by consumption and not dependent on the vagaries of the business cycle. In addition, sectors like consumer non-cyclicals cover consumer-oriented businesses like food and retail.
  • Companies in the utilities and telecom sector also benefited due to their essential nature and many GCC organizations instituting ‚Äòworking from home' arrangements.
  • The lockdowns imposed in the GCC have not affected them and have instead resulted in increased revenue in the first half of 2020 for these Companies.

Table of Content

  • Executive Summary
  • Consumer non-cyclicals stocks have gained the most
  • Saudi Arabian companies dominate the list of top 20 companies by gains
  • Financials, Real estate, Energy companies amongst the biggest losers
  • Conclusion

FAQ

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Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.

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