INGOT Brokers AU | MENA market report (2017-07-18)

MENA market report (2017-07-18)

  • Overview:

Most of the equities closed lower in Tuesday session, while Kuwait equities closed in the green as the gains generated by Industrials and Telecommunication services sectors.

KSA equities were lower on Today’s session. However Saudi Kayan stock is the most traded stock in Saudi market rose by 2.2% as the company’s profits rose by SAR 242 million in the second quarter of this year, higher than expected by SAr30 million. Also, Jouf Cement stock rose by 9.5% as the capital rose by 10% after the companies issued bonus shares. Moreover, National Co rose by 7.1% as the company reported a rise in the quarterly net profit and a sharp fall in the operating profit. On the other hand, Qassim cement stock dropped by 0.4% as the company’s profits fell by SAR 60.7 million for the second quarter of the current year.

After a rising for 7 sessions in a row, Dubai’s equities closed the session in a red; one of the stocks which led the fell in the price of DFMGI is Damac stock, where it’s fell by 4.3%.

Elsewhere in Egypt; the equities were lower on Friday, looking closely at specific stocks in Egypt, Ezz Steel’s stocks may face selling position as the company reported a quarterly loss of EGP521 million, the company was suffering from a very low rate of utilization and the devaluation of EGP.

Qatar Market closed the session in the red, where QSI index dropped by 0.45% at 9393.73 as the losses generated by Utilities and Energy sectors. However the banks there showed a small impact from the diplomatic crises in the region, where in line with expectation, Masraf Al Rayan reported a flat net profit, and this bank is the second largest bank by market value. 

Oman Stock Market also closed the session in the red as the losses generated by Telecommunication Services and Basic Materials sectors, MSM lowered by 0.19% at 5,063.85. The worst performance in the session was Al Jazeera Steel Production Co SAOG which fell by 4.03% at 0.235 while Oman Fisher Co SAOG was the best performance, where its stock rose by 6.72% at 0.129.

However, In Kuwait Market, KWI15 rose by 0.34% at 927.89 as the gains generated by the sectors of Industrials, Financial and Telecommunication services, the best performance in the session was Agility Public Warehousing Co KSCP as the stock rose by 3.84% at KWD839.

  • KSA stock Market:

KSA stocks fell on Tuesday as losses in the Industrials, Transport, Media & Publishing and Agriculture & Food sectors pushed shares lower.

Today’s losers on Tadawul all shares outnumbered the gainers with 123 losers, 41 gainers, and 11 stocks were left unchanged.

The best performers of the session on the Tadawul All Share were National Company for Glass Industries SJSC that surged 9.97% to trade at 21.18 at the close. Meanwhile, Malath Cooperative Insurance Company SJSC advanced by 9.15% to end at 21.24 and Jazan Development Company SJSC was up 4.94% to 15.30 in late trade.

The worst performers of the session were Saudi Research and Marketing Group SJSC that tumbled by 8.16% to trade at 54.00 at the close. Saudi Printing and Packaging Co SJSC dropped 5.36% to end at 17.32, and Al Baha Investment and Devel lost 4.30% to the last settle at 23.16.

  • UAE Stock Market:

United Arab Emirates Equities ended today’s session in negative territory.

Equities in Dubai ended the session higher as DFM index lost 0.68% to trade at 3578.14 while ADX fell by 0.08% to trade at 4571.91 as losses generated by Consumer Staples, Real State & Construction and Transport led share lower.

Falling stocks outnumbered rising ones on the Dubai Stock Exchange by 14 to 5, and 17 shares remained unchanged; on the Abu Dhabi Securities Exchange, 12 rose, and 9 declined, while 40 ended unchanged.

The top performers of the session on the DFM General were National General Insurance Co PJSC which surged by 14.90% to trade at 2.39 at the close. Meanwhile, Emaar Properties PJSC rose by 1.25% to end at 8.11, and Emaar Malls Group PJSC added 1.20% to 2.540 in late trade.

The worst performers of the session were Damac Properties Dubai Co PSC, which tumbled 9.03% to trade at 4.03 at the close. Marka PJSC declined 2.61% to end 0.710, and Islamic Arab Insurance Co PSC was down 1.73 % to be traded at 0.454.

The top performers on the ADX General were Fujairah Cement Industries Co PSC which surged by 6.80% to trade at 1.10 at the close, Gulf Pharmaceutical Industries PSC was up 3.91% to settle at 2.39, and Ras Al Khaimah Ceramics PSC gained 2.13% to close at 2.40.

The worst performers were Sharjah Islamic Bank PJSC who tumbled by 3.57% to trade late in the session at 1.35, United Arab Bank PJSC lost 3.33% to settle at 1.45, and Abu Dhabi National Hotels Co PJSC declined by 3.13% to trade at 3.10 at the close.

  • Egypt Stock Exchange:

The Egyptian stock market was mostly lower in today’s trading session, with its index EGX30 fell by 1.71% or 238.79 points to end at 13717.53, as the profit losses by Basic Material, Industrials and Financials sectors.

Today’s losers on EGX30 outweighed the gainers by 24 to 4 and 2 flat shares.

The best performers of the session on the EGX 30 were, Telecom Egypt Co SAE rising by 1.15%, Palm Hills Developments Company SAE adding 0.31%  and Pioneers Holding Company for Financial Investments SAE settling 0.22% higher at 9.10.

The worst performers of the session on the EGX 30 were, Ezz Steel Co SAE Sharply declined by 10.00%, Arabian Food Industries Co SAE fell by 5.58%, and Medinet Nasr for Housing and Development SAE ended 5.33% lower at 10.12.














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