Oil Stamps Domination: Atleast That’s What Benchmarks Tell

Follow us on Google News:
 Oil Stamps Domination: Atleast That’s What Benchmarks Tell

Source: Kodda, Shutterstock


  • Central banks across the globe continue to loosen the purse strings
  • Indices march upwards, with risk on trade continuing
  • Oil prices supported Saudi Arabian Tadawul All Share Index while green index rejig has impacted New Zealand stock market

The stock markets have been on steroids after the central banks across the globe started pumping in the liquidity in their respective economies. As monies started flowing in, the benchmark indices in some cases even doubled from the lows of March 2020, with real economies being still on the shaky grounds.

Copyright © 2021 Kalkine Media Pty Ltd.

The rally of 2020 continued into 2021 as well, albeit a toned-down version. While the stocks have rallied, the investors have moved from safe haven to the riskier assets. Complimenting the rise in the global equities, the gold prices have corrected by 16.5% after touching the peak levels in August 2020.

But do you know, which has been the best performing benchmark index across the globe in 2021? It’s been Saudi Arabian Tadawul All Share Index – that has rallied by 14.68% in the current year.

Source: Kalkine Research

The oil price, which is the key driver of the Gulf financial markets, surged past US$ 70 a barrel in early March for the first time since Coronavirus pandemic, that lifted the stock market in middle eastern kingdom. The Tadawul All Share Index has outperformed its peers, growing four-times more than the Morgan Stanley Capital International’s (M.S.C.I.) Emerging Market Index. The M.S.C.I. EM Index has grown by paltry 3.68% this year.

Source: Kalkine Research

The growth in Saudi stocks, has been closely followed by the growth in the Taiwanese shares, which has been seen gaining on expense of global backlash against China. The two countries have been claiming sovereignty over the entire of each other’s territory and are globally seen as rivals. The Taiwan Weighted Index has rallied by 13.69% in 2021.

Other indices that have witnessed a double-digit growth in 2021 include Singapore, Eurozone and German Indices.

Source: Kalkine Research

Among the major indices, there have been only two countries whose benchmarks have seen correction. The New Zealand’s NZX50, shedding 5.28% this year, has been the worst performer when it comes to global equity markets. The New Zealand Stock market has been faltering due to global green index rejig impacting scrips of country’s two major electricity companies – Contact and Meridian.

Similarly, Brazil’s Bovespa has declined by 1.26% in the year, as country’s federal government is seen to terribly mismanage the outbreak of Coronavirus pandemic.

Source: Kalkine Research


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK