On Friday, the MSCI emerging market index closed at 739.61, a 7.7% increase compared to 741.04 the day before and to the 52-week low of 686.74 recorded on 21 January.

The market surged throughout the first trading day of the week beginning 31 January then dropped in the second and third day only to pick up the fourth day.

The market opened the trading week at 742.37. The emerging market has been experiencing its worst decline since 2008 as a result of the significant drop in oil prices.