MENA markets shares closed Thursday’s trading session in mixed territories with Kuwait index rising 0.3 percent pushed by the gains that were recorded in Zain share, however in Egypt; the index was down by 0.7 percent after the surprising jump in the country’s consumer price index which reached its second highest rate on record.
Kuwait index advanced 0.3 percent to close at 6,845 points after the massive increase in Zain shares which gained 4.4 percent to trade at 0.471 dinars recording the heaviest volumes since March after agreeing to sell 425.7 million treasury shares to Omentel for &846 million or 0.6 dinars per share.
Moreover, Saudi Arabia stock market ended today’s trading session in the green after the gains in Al Rjihi bank which gained 0.8 percent. Also, the index pushed up by the gains in the construction firm Khodari which surged 6.8 percent.As well, Saudi Printing and Packaging jumped 3.0 percent to 23.06 riyals in its heaviest trade since May 2016.
Furthermore, Qatar equity market closed Thursday’s session in negative territory pressured by the decline in the banking sector which saw a drop in Qatar National Bank share by 0.7 percent.
Elsewhere in Egypt, the index fell 0.9 percent in a broad-based decline after official data had shown annualized consumer price inflation climbed in July to 33.0 percent, the second highest rate on record, from 29.8 percent in June pushed up by fuel price hikes.
Saudi Arabia stocks ended Thursday’s session in the green after the gains that were recorded in the Industrial Investment, Building & Construction and Insurance sectors. The TASI advanced 0.2 percent to close at 7,165 points.
Today’s losers significantly outnumbered the gainers, with 86 gainers, 85 losers, and one flat share.
The best performers on Tadawul All Share Index were, Middle East Specialized Cables Co surging by 10.53 percent, Al Sorayai Trading&Industrial Group gaining 0.6 points and Abdullah A. M. Al-Khodari Sons Co ending higher by 6.81 percent.
Meanwhile, the worst performers on Tadawul All Share Index were, Al Hammadi Co falling by 2.74 percent, National Medical Care Company losing 1.15 points and Mediterranean&Gulf Insurance Co ending 0.42 points lower at 15.28.
• United Arab Emirates Stock Markets
United Arab Emirates stocks closed today’s trading session in mixed territories as gains in the Finance & Investment, Telecoms and Services sectors pushed the index up, while the losses in the Insurance, Transport and Consumer Staples sectors had minimized those gains.
At the close in Dubai, the DFM General gained 0.1 percent to close at 7,165 points, while the ADX General Index declined 0.1 percent to trade at 4,551 points.
Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 14 to 13 and 11 ended unchanged; on the Abu Dhabi, 12 fell and 10 advanced, while 8 ended unchanged.
The best performers of the session on the DFM General were SHUAA Capital PSC which rose 2.48 percent to trade at 1.240 at the close. Meanwhile, Dubai Financial Market PJSC added 0.020 points to end at 1.200, and Union Properties PJSC was up 1.15 percent to trade at 0.88
The worst performers of the session were Takaful Emarat PSC which fell 9.05 percent to trade at 2.110 at the close. Marka Pjse declined 0.02 points to end at 0.72, and Emaar Malls edged down 1.22percent or 0.030 points to 2.420.
The top performers on the ADX General were Ad Shipbldg Co which gained 10.33 percent to close at 2.350, Al Khazna Ins was up 3.03 percent to settle at 0.340, and Rak Cement Co which gained 2.67 percent to close at 0.770.
The worst performers were National Marine Dredging PSC which was down 9.90 percent to 3.730 in late trade, Gulf Cement Co which lost 9.17 percent to settle at 0.9900, and National Corp Tourism Hotels which was down 5.38 percent to 2.46 at the close.
Egypt equity market ended the week in negative territory after declining 0.87 percent or 118.38 points to close at 13,462.38 points.
The top performers in on the EGX 30 were Abu Dhabi Islamic Bank, Egypt and Telecom Egypt rose 4.68percent and 1.53percent, respectively.On the other hand, Egyptian Financial and Industrial, Extracted Oils, and Emaar Misr declined 2.57percent, 1.50percent, and 1.12percent, respectively.
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