INGOT Brokers AU | MENA market report (2017-07-24)

MENA market report (2017-07-24)

Despite the lake of fresh news, most of MENA’s equities were up in Monday’s session. However, KSA and Oman’s shares closed the session in the red.
In KSA, the largest lender National Commercial Bank’s stock fell by 1.2% as the bank reported a 09% decline in their second quarter net profit. Also, after the net loss of Etihad Etisalat came higher than expected with SAR 189.7 million; the stock dropped sharply by 7.4%. However, Bank Saudi Fransi and retailer United Electronics closed the session up by 2.363% and 7.6% respectively, after Bank Saudi Fransi reported a decline by 4.1% in their net quarter, While Retailer United Electronics announced that they would pay SAR 0.75 for the first half dividends on 20th of Aug. 
Both indices of Dubai and Abu Dhabi stock Markets in UAE closed the session in the green; as the deal between DAMAC and AMLAK t supported AMLAK share, where the stock rose by 1.7%. Also, the share of Drake & Scull gained 2.0%; both of these shares helped DFMI index to surged by 0.1%.
Elsewhere in Egypt, the earning of EZZ Steel came worse than expected last week; its share dropped by 1.6%. However, the index closed the session up by 0.3%.
Qatar’s equities closed the session in the green where the main index QSI reached the highest level since 5th of June, rose by 3.5% from Pre-Crises level, supported by gains generated by Telecommunication services and financial sectors. Most of the bank stocks rose in today’s session such as Doha Bank, Masraf Al Rayan and Qatar International Islamic Bank where their shares increased 2.3 %, 1.0%, and 0.5% respectively as they reported an increase in their annual net profit. The best performer in the session was Vodafone Qatar QSC where the stock rose by 4.19% to settle at 8.96, while the worst performer in the session was Gulf International Services QSC which it lost 0.12% at 23.20 at the close.
Also, Kweit stocks were higher today where the KW15 index rose by 1.74% to close the session up at 948.53, supported by the gains generated by Telecommunication services, Financials, and industrials sectors. The best performer in the session was Kuwait Project Company Holding KSCP, where its stock jumped by 8.57T at 380, while the worst performer was Kuwait International Bank KSC which its stock declined by 0.41% at 244.
Meanwhile, Omani Shares closed the session in the red pressured by the losses in Basic Materials Sector, where the main index MSI lowered by 0.08% at 4995.170. The best performer in the session was Al Madina Insurance Co SAOG, where the share surged by 1.77% to close at 0.133, while the worst performer in the session was Raysut Cement CO SAOG, where its stock declined by 3.43% to end the session at 0.900.

KSA Stock Exchange:

KSA stocks fell on Monday as losses in the Petrochemicals, Telecoms & IT and Agriculture & Food sectors pushed shares lower, Tasi dropped by 0.15% at 7252.51.
Today’s losers on Tadawul all shares outnumbered the gainers with 75 losers, 74 gainers, and 26 stocks were left unchanged.
The top performers of the session on the Tadawul All Share were Tihama Advertising and Public that surged 5.87% to trade at 38.80 at the close. Meanwhile, United Electronics Company JSC advanced by 5.04% to end at 42.75 and Allied Cooperative Insurance Group SJSC was up 3.42% to 15.10 in late trade.
The worst performers of the session were Etihad Etisalat Co SJSC that tumbled by 7.23% to trade at 18.74 at the close. Malath Cooperative Insurance Company SJSC dropped 3.08% to end at 25.20, and Red Sea International Co lost 2.54% to the last settle at 19.20.

UAE Stock Exchange:

United Arab Emirates Equities ended today’s session in positive territory.
Equities in Dubai ended the session higher as DFM index added 0.08% to trade at 3599.38 while ADX rose by 0.12% to trade at 4540.25 as gains generated by Real State & Construction, Consumer Staples and Telecoms led share higher.
Falling stocks outnumbered rising ones on the Dubai Stock Exchange by 14 to 11, and 11 shares remained unchanged; on the Abu Dhabi Securities Exchange, 10 Declined, 8 advanced, while 43 ended unchanged.
The top performers of the session on the DFM General were Commercial Bank of Dubai PSC which surged by 3.22% to trade at 4.490 at the close. Meanwhile, Drake & Scull International PJSC rose by 1.98% to end at 0.413, and DXB Entertainments PJSC added 1.32% to 0.766 in late trade.
The worst performers of the session were Ajman Bank PJSC, which tumbled 2.48% to trade at 1.210 at the close. Dubai Financial Market PJSC declined 2.48% to end 1.180, and Shuaa Capital PSC was down 2.16 % to 1.360.
The top gainers on the ADX General were Ras Al Khaimah for White Cement and Construction Materials Co PSC which surged by 12.77% to trade at 1.06 at the close. Al Khazna Insurance Company PSC was up 2.70% to settle at 0.38, Agthia Group PJSC gained 1.74% to close at 5.27.
The worst performers were Sharjah Cement and Industrial Development Co PSC who tumbled by 9.17% to trade late in the session at 0.99, Sharjah Islamic Bank PJSC lost 4.23% to settle at 1.36, and Abu Dhabi Aviation declined by 3.70% to trade at 2.60 at the close.

Egypt Stock Exchange:

The Egyptian stock market rose on Monday's session higher as gains in the Consumer Non-Cyclicals, Industrial, and Telecommunication services sectors supported the equities, where Egyptian index EGX30 trading higher by 0.28% to trade at 13,752.98 at the close.
Today’s losers on EGX30 outweighed the gainers by 16 to 10 and 4 flat shares.
The best performers of the session on the EGX 30 were El Sewedy Electric Co SAE that added 2.55%, while Eastern Co SAE added 1.97% and Arabian Food Industries Co SAE and was up 1.39%.
The worst performers of the session on the EGX 30 were GB Auto SAE who declined by 4.37%, followed by Amer Group Holding Co SAE that fell by 2.94% and Pioneers Holding Company for Financial Investments SAE ended the session 2.63% lower.

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