MENA Market Report 17th of July 2019

MENA stock markets closed Wednesday’s trading session in the green, as TASI, BAX, and QSI finished the session higher.

Bahraini shares rose on today’s session, where the main index BAX gained 0.21 percent or 3.221 points to settle at 1,538.71 supported by the gains in all sectors especially Industrials that rose by more than 0.60 percent.

Furthermore, Qatari equities ended today’s trading session in the green, as the primary benchmark QSI added 0.12 percent or 12.55 points to close the session at 10,613.53 due to the gains in Healthcare, Utilities, and Telecom Services sectors.

Regarding oil news, Oil prices rose on Wednesday’s trading session, as U.S. WTI crude futures were higher to trade at 58.33 USD per barrel around 16:05 GMT. Brent crude futures were also higher to trade at 65.12 USD per barrel around 16:05 GMT. 

Saudi Stocks Exchange:

Saudi stocks finished Wednesday’s session higher, as the primary index TASI rose by 0.03 percent or 2.54 points to settle at 9,075.55 supported by the gains in Utilities, Energy, and Telecom Services sectors.

In stocks news, Saudi Industrial Export Company SJSC and Mobile Telecommunications Company Saudi Arabia SJSC were the best performers in today’s session as they rose by 6.69 percent and 4.18 percent respectively to end the session in the green.

 

United Arab Emirates Stock Market:

United Arab Emirates' shares settled in today’s trading session on mixed notes as DFMGI dropped while ADI faced some gains.

Abu Dhabi equities rose on today's trading session, where Abu Dhabi's leading benchmark ADI gained 0.07 percent or 3.518 points to end at 5,080.74 supported by the gains in Basic Materials, Financials, and Consumer Non-Cyclicals sectors.

In stock news, National Bank of Fujairah PJSC was today’s best performer, boosted by almost 10 percent to end the session higher. On the other hand, Ras Al Khaimah Cement Co PSC was the worst performer today as the stock fell by 2.08 percent to settle in the red.

In Dubai, the main index DFM fell on today’s trading session, dropping by 0.23 percent or 6.38 points to finish the session at 2,716.06 due to losses in Consumer Cyclicals, Industrials, and Financials sectors

In stocks news, Islamic Arab Insurance Co PJSC was the best performer today as the stock rose by 2.22 percent to finish the session in the green. Meanwhile, Amlak Finance PJSC fell today by 4.09 percent to settle in the red at the end of the session.

 

Egypt Stock Market:

Egypt's leading benchmark EGX30 fell by 0.58 percent on Wednesday to settle at 13,641.94 due to the losses in Consumer Cyclicals, Energy, and Financials sectors.

In stock news, Cairo for Investment and Real Estate Development SAE was the best performer, advancing by 3.54 percent, while GB Auto SAE was the worst performer for the second session in a row, dropping by almost 6 percent to finish the session in the red.

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