INGOT Brokers AU | MENA market report (2017-05-17)

MENA market report (2017-05-17)

  • Saudi Arabia Stock Market
  • Supported by the gains in the Building & Construction, Agriculture & Food and Real Estate Development sectors and the positions that investors are taking ahead of the holy month of Ramadan Saudi Arabia’s stock market rose by 0.10% to close at 6,947.36 points on Wednesday’s trading session.

    Rising stocks beats declining ones on the Saudi Arabia Stock Exchange by 83 to 60 and 35 ended unchanged.

    Tadawul’s best performers of the session were Saudi Indian Company Insurance which rose 9.40% or 1.25 points to trade at 14.55 at the close. Meanwhile, Allied Cooperative Insurance Group added 4.56% or 0.60 points to end at 13.75 and Saudi Industrial Development Co. was up 4.19% or 0.45 points to 11.20 in late trade.

    While the worst performers of the session were Saudi Ceramic Co. which fell 3.51% or 1.00 points to trade at 27.50 at the close. Abdullah A. M. Al-Khodari Sons Co declined 2.24% or 0.25 points to end at 10.90 and Al Sagr Co-operative Insurance Co was down 2.15% or 0.70 points to 31.80.

  • United Arab Emirates Stock Market
  • Furthermore the United Arab Emirates’ stock markets closed higher in Wednesday’s session, with DFM General Index rising by 0.54%, while ADX General Index was up 0.25%.

    The gains in the Real Estate & Construction, Consumer Staples and Services sectors drove the index higher especially the rise in the shares of Damac Properties which gained 2.5 percent continuing the rally in its price that begins after the reports that showed that MSCI index will add the share to its United Arab Emirates index starting in the 1st of June, 2017.

    Failing stocks outnumbered rising ones on the Dubai Stock Exchange by 20 to 14 and 3 ended unchanged; on the Abu Dhabi, 14 advanced and 7 declined, while 10 ended unchanged.

    DFM’s best performers of the session were Marka Pjse which rose 3.23% or 0.02 points to trade at 0.74 at the close. Meanwhile, Damac Properties Dubai Co PSC added 2.50% or 0.070 points to end at 2.870 and Dubai Financial Market PJSC was up 1.79% or 0.020 points to 1.140 in late trade

    And ADX’s General Index top performers were Gulf Medical Projects Co PSC which rose 15.00% to 4.60, Fujairah Cement Industries Co PSC (AD:FCI) which was up 14.29% to settle at 1.040 and Ad Natl Energy (AD:TAQA) which gained 3.45% to close at 0.600.

    Meanwhile DFM’s worst performers of the session were Takaful Emarat PSC which fell 6.44% or 0.150 points to trade at 2.180 at the close. Dubai Islamic Insurance Co. declined 2.39% or 0.017 points to end at 0.693 and Takaful House was down 1.89% or 0.020 points to 1.040.

    Moreover ADX’s worst performers of the session were Rak Cement Co which was down 2.35% to 0.830 in late trade, Arkan Building Materials Co PJSC which lost 1.47% to settle at 0.6700 and Waha Capital which was down 1.12% to 1.770 at the close.

  • Egypt Stock Market
  • Egyptian Stock market index EGX 30 ended in the session higher reaching a fresh one month’s high at 13064.02, led by the relatively large gains in Consumer Non-Cyclicals, Consumer Cyclicals, Industrials and Financials sectors despite the loss in Telecommunications Services.

    Today’s gainers outnumber the loser by 50% with 18 gainers and 12 losers.

    EGX 30 best performers were, Sixth of October Development and Investment Company SAE rising by 4.90%, Heliopolis Co for Housing and Development SAE gaining 4.05%, Eastern Co SAE adding 7.51 points, Ezz Steel Co SAE climbing higher by 2.09% and Emaar Misr for Development SAE settling 0.05 points higher at 2.57.

    And EGX 30 worst performers were, Amer Group Holding Co SAE falling by 3.03%, Porto Group Holding SAE shading 3.03%, Egyptian Iron and Steel Co SAE dropping by 2.58%, Telecom Egypt Co SAE losing 0.23 points and Juhayna Food Industries SAE ending lower at 8.95.

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The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.