INGOT Brokers AU | MENA market report (2017-07-26)

MENA market report (2017-07-26)

MENA equities were mixed in Today’s session as investors are worried about the upcoming earning announcement and the rebound in oil prices did not boost the market.
KSA closed the session in the red, where TASI dropped by 0.4%, despite the increase in most of Petrochemical Stocks supported by the increase in oil prices. Sipchem share rose by 4.1% after they reported an increase in their net profit for the second quarter of this year. However, National Industrialization stock declined by 4.9% despite as its net profit for the second quarter rose by only 7%.
In UAE, Dubai stocks ended the session in the green while Abu Dhabi stocks ended the session lower. DFM rose by 0.4%, the volumes of Dubai Islamic insurance and Islamic Arab insurance remained active in today’s session, but they dropped slightly.
Meanwhile, Qatar’s equities closed the session in the red after BRWA Real State reported a decrease in the net profit for the first half of this year, where net profit fell by QAR 624 million to QAR 912 million. Moreover, the losses generated by Basic Materials and Financials sectors pressured Qatar equities, where QSI dropped by 0.11% at 9,583.78. Qatar International Islamic Bank QSC was the best performer in the session where its stock added 2.43% to trade at 59.00, while Qatar Insurance Co SAQ was the worst performer on QSI which its stock fell by 3.29% to close at 70.60.
Also, Kuwait stocks were lower on Wednesday session as the losses generated by Consumer Non-Cyclicals sectors pressured the shares, where KW15 fell by 0.07% at 952.95. The biggest gainer in the session was Warba Bank KSC where its stock gained 1.89% to close the session up at 269, while Mezzan Holding Company KS which the stock tumbled by 1.77% at 890.0.
Elsewhere in Oman, Omani shares were higher as the gains in Utilities, Telecommunication services and financials sectors pushed shares up as MSI gained 0.59 at 5,027.350. The biggest gainer was National Bank of Oman SAOG where its stock rose by 2.40% to be traded at 0.214, while Al Anwar Holdings SAOG was the worst performer in the session as its share declined by 2.68% at 0.145.

KSA Stock Exchange:

KSA stocks fell on Wednesday as losses in the Multi Investment, Financial services, and Hotel & Tourism sectors pushed shares lower, Tasi dropped by 0.0.38% at 7,200.43
Today’s losers on Tadawul all shares outnumbered the gainers with 116 losers, 42 gainers, and 17 stocks were left unchanged.
The top performers of the session on the Tadawul All Share, Saudi Research and Marketing Group SJSC that surged 9.98% to trade at 63.90 at the close. Meanwhile, United Electronics Company JSC advanced by 5.58% to end at 43.50 and Saudi International Petrochemical Co SJSC was up 4.11% to 14.70 at the close.
The worst performers of the session were National Industrialization Com that tumbled by 4.87% to trade at 14.46. National Agriculture Development Co SJSC dropped 3.50% to end at 27.60, and Allied Cooperative Insurance Group SJSC lost 3.07% to the last settle at 14.52.

UAE Stock Exchange:

United Arab Emirates Equities were mixed in today’s session.
Equities in Dubai ended the session higher as DFM index rose by 0.39% to trade at 3608.47, while ADX fell by 0.39% to trade at 4524. Due to gains generated by Consumer Staples, Finance & Investment and Telecoms led shares higher, while the losses caused by real State & Construction, Insurance and Transport sectors led shares lower.
Falling stocks outnumbered rising ones on the Dubai Stock Exchange by 14 to 12, and 10 shares remained unchanged; on the Abu Dhabi Securities Exchange, 10 Declined, 7 advanced, while 44 ended unchanged.
The top performers of the session on the DFM General were Dubai Investments PJSC which surged by 2.08% to trade at 2.45 at the close. Meanwhile, Ajman Bank PJSC rose by 1.68% to end at 1.210, and National Central Cooling Co PJSC added 1.47% to 2.070 in late trade.
The worst performers of the session were National General Insurance Co PJSC, which tumbled 9.62% to trade at 2.160. Dubai Islamic Insurance and Reinsurance Co PSC declined 5.38% to end 0.984, and Gulf Navigation Holding PJSC was down 2.14 % to 1.370.
The top gainers on the ADX General were United Arab Bank PJSC which surged by 15.00% to trade at 1.61 at the close. Emirates Driving Co PJSC was up 6.24% to settle at 8.00, National Corp for Tourism and Hotels gained 4.42% to close at 2.60.
The worst performers were Gulf Medical Projects Co PSC who tumbled by 9.98% to trade late in the session at 3.70, Commercial Bank International PSC lost 8.18% to settle at 1.01, and Bank of Sharjah PJSC declined by 3.33% to trade at 1.16 at the close.

Egypt Stock Exchange:

The Egyptian stock market was higher in Wednesday's session as gains in the Consumer Cyclicals, Basic Materials and Industrials sectors supported the equities, where Egyptian index EGX30 trading up by 0.41% to trade at 13,797.25 at the close.
Today’s gainers on EGX30 outweighed the losers by 17 to 12 and 1 flat shares.
The best performers of the session on the EGX 30 were GB Auto SAE that added 4.50%, while Oriental Weavers Carpet Co SAE added 3.24% and Talaat Mostafa Group Holding Co SAE was up 2.67%.
The worst performers of the session on the EGX 30 were Juhayna Food Industries SAE who declined by 3.05%, followed by Telecom Egypt Co SAE that fell by 2.17% and Egyptian Iron and Credit Agricole Egypt SAE ended the session 2.00% lower.




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