INGOT Brokers AU | MENA market report (2017-08-21)

MENA market report (2017-08-21)

Mena markets ended Monday’s session on mixed notes, as market in Saudi Arabia, Egypt, and Abu Dhabi advanced. While markets in Qatar and Dubai declined.

Qatar’s main index lost 0.39 percent after light trading volume weighed on stocks. 

Meanwhile, in Saudi Arabia, Riyadh main Index added 0.75 percent bolstered by a rise in real estate stocks. Moreover, petrochemical shares after 7 of the 14 listed shares advanced after oil prices gained some lost ground on Monday.

Elsewhere in United Arab Emirates equity markets settled on mixed notes, Abu Dhabi’s index added 0.05 percent, while Dubai’s index lost 0.56 percent.

Dubai Main benchmark DFM found pressure from losses in Builder Drake & Scull fell 1.8 percent; rumors in the market are floating saying that Drake & Scull would pursue shareholders’ approval to convert to a Sharia-compliant firm. Meanwhile, Union Properties who has been volatile recently lost 2 percent intra-day.

In Egypt, Cairo’s main benchmark EGX 30 gained 0.61 percent.

Looking at specific stock in Egypt, Pioneer Holding said that net profit by 106.2 million Egyptian pounds from the previous figure 71.1-million-pound last year.  


•          Saudi Arabian Stock Market

Saudi Arabia shares ended Friday’s session in the green after recording gains in the Consumer Non-Cyclicals, Industrials, and Telecommunications services sectors. Saudi Arabian benchmark TASI index rose by 0.22 percent to close at 7,225.38 points.

Today’s gainers outnumbered the losers, with 85 gainers, 78 losers, and 12 flat shares.

The best performers on Tadawul All Share Index were, Al Jazira Mawten REIT that surged by 9.60 percent, meanwhile Amana Cooperative Insurance Co SJSC gained 5.65 percent and Al Alamiya for Cooperative Insurance Co SJSC ending higher by 4.65 percent.

Meanwhile, the worst performers on Tadawul All Share Index were, Al Babtain Power and Telecommunication Co SJSC which fell by 3.79 percent, Saudi Research and Marketing Group SJSC that lost 2.59 percent and Jabal Omar Development Co SJSC ended lower by 2.06 percent.

•          United Arab Emirates Stock Markets

United Arab Emirates equity markets closed today’s trading session in mixed territories, as losses in the Consumer Cyclicals, Consumer Non-Cyclicals, and Healthcare pulled stocks downwards in Dubai Financial Market, while profits generated by Energy and Utilities sectors bolstered equities in Abu Dhabi’s equity market.

At the close, the DFM General Index fell by 0.56% percent to close at 3,595.13 points, while the ADX General Index rose by 0.05 percent to trade at 4,494.90 points.

Declining stocks outnumbered advancing ones on the Dubai Stock Exchange by 15 to 8, and 13 ended unchanged; meanwhile, on the Abu Dhabi stock exchange, 10 stocks fell, and 8 rose, while 41 ended unchanged.

The best performers of the session on DFM General Index were Dubai National Insurance and Reinsurance Co PSC which surged by 12.22 percent to trade at 3.030 at the close. Meanwhile, Shuaa Capital PSC added 3.33 percent to end at 1.240, and Islamic Arab Insurance Co PSC was up 2.84 percent to settle at 0.470.

The worst performers of the session were Marka PJSC which fell by 2.14 percent to trade at 0.685 at the close. Union Properties PJSC declined by 2.00 percent to end at 0.880, and Dar Al Takaful PJSC dropped by 1.80 percent to 1.090.

The top performers on the ADX General were Dana Gas PJSC which gained 8.06 percent to close at 0.67; Ras Al Khaimah Cement Co PSC was up 4.11 percent to settle at 0.76, and Sharjah Islamic Bank PJSC which gained 2.27 percent to close at 1.35.

The worst performers were Commercial Bank International PSC which was down 7.02 percent to 1.06 in late trade, Abu Dhabi National for Building Materials Co PJSC which lost 5.88 percent to settle at 0.48, and Gulf Cement Co PSC which was down 5.61 percent to 1.01 at the close.


•          Egypt Stock Market

Egypt equity market ended the Monday’s session in positive territory to close higher by 0.61 percent or 79.83 points to settle at 13,106.12 points.

The top performers in on the EGX 30 were Qalaa Holdings SAE, Emaar Misr for Development SAE and Arabian Cement Co SAE which rose by 3.70 percent, 3.59 percent, and 3.04 percent respectively. On the other hand, Amer Group Holding Co SAE, Egyptian Chemical Industries SAE, and Egyptian Iron and Steel Co SAE declined by 3.33 percent, 2.06 percent, and 1.47 percent, respectively.




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