MENA Market Report 31st of July

MENA shares ended Wednesday’s session in mixed territory as Saudi Arabia fell pressured by as losses in petrochemical shares, while Egypt's blue-chip index closed 0.2 percent higher.

Bahraini shares advanced on today’s session, where the main index BAX added 0.1 percent or 1.458 points to settle at 1,547.682 due to the gains in Industrials Basic Materials and Financials sectors.

On the other hand, Qatari equities ended today’s trading session in the red as the primary benchmark QSI fell by 0. 80 percent or 84.290 points to close the session at 10,505.000 pressured by the Utilities, Telecommunications Services, and Industrials sectors.

Regarding oil news, Oil prices rose for a fifth day on Wednesday, supported by a larger-than-expected drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time in more than a decade as the U.S. WTI crude futures were higher to trade at 58.38 USD per barrel around 16:15 GMT. Brent crude futures were also higher to trade at 65.04 USD per barrel around 16:15 GMT.

Saudi Stocks Exchange:

Saudi Arabia's stock market fell on Wednesday as the primary index TASI dropped by 0.10 percent or 8.31 points to settle at 8,732.62 due to the losses in Technology, Telecommunications Services and Basic Materials sectors.

In stocks news, Al Yamamah Steel Industries Company CJSC was the best performer in the session, which surged by 5.65 percent, followed by Zahrat Al Waha for Trading Company CJSC, which rose by 4.76 percent.

On the other hand, National Company for Learning and Education SJSC was the worst performer in the session, which dropped by 2.90 percent, followed by Mouwasat Medical Services Company SJSC, which tumbled by 2.78 percent.

United Arab Emirates Stock Market:

United Arab Emirates' shares closed today’s trading session in mixed territories.

 Abu Dhabi equities fell on today's trading session, where Abu Dhabi's leading benchmark ADI down by 0.25 percent or 13.243 points to end at 5,317.899 pressured by Telecommunications Services sectors.

 In stock news, Commercial Bank International PSC was the best performer in the session, as the stock surged by 14.71 percent to end the session higher. On the other hand, Gulf Cement Co PSC was the worst performer in today session as the stock tumbled by ten percent to settle in the red.

In Dubai, the main index DFM rose by 0.23 percent or 6.70 points to end the session at 2,918.38 supported by the gains in the Financials and Telecommunications Services sectors.

In stocks news, Emirates NBD Bank PJSC was the best performer in today as the stock rose by 1.71 percent to finish the session in the green. Meanwhile, Shuaa Capital PSC fell by 3.85 percent.

 Egypt Stock Market:

Egypt's leading benchmark EGX30 rose by 0.20 percent on Wednesday to settle at 13,392.47 supported by gains in Financials, Consumer Cyclicals and Industrials sectors.

In stock news, Qalaa Holdings plunged 9.9 percent after saying its indirect ownership in Egyptian Refining Company had been diluted to 13.14 percent over a couple of years.

لا يقصد من المعلومات الواردة في هذا المنشور عرضا او دعوة لشراء أو بيع لأي أداة مالية وأي رأي منشور هنا يعكس أفكار موقع فقط ويمكن أن تتغير في أي وقت. يقر ويوافق المستخدمين على أن يكون هناك درجة من عدم التأكد بسبب طبيعة أي استثمار للأسهم او البضاعة أو أي شيء مماثل وبالتالي, سيتحمل المستخدم وحده كامل المسؤوليات القانونية حيث يوجد احتمالية مخاطرة عند حصول اي استثمار.