MENA shares ended Tuesday’s session mostly in green with the exception of the Bahrain and Abu Dhabi index while the banking sector lifted the Saudi index.
Bahraini shares fell on Tuesday's session with the primary Bahraini index BAX losing 0.1 percent or 1.344 points to end the session in the red at 1,404.999 pressured by losses in the Financials sector.
Meanwhile, Qatar shares closed the session in the green, where Doha main index QSI rose by 0.22 percent or 21.66 points to close at 9,765.88 supported by gains in the Basic materials and energy sectors.
In stocks news, Qatar Navigation was the best performer adding 2.4 percent followed by Mesaieed Petrochemical which rose by 2.38 percent.
In the Energy news, despite the increase in the United States oil supply, oil prices rose on today’s session, supported by the rising demand and output cuts led by OPEC.
U.S. WTI crude oil futures ended Monday’s session higher at 56.76 USD per barrel and extended their gains to also trade higher at 57.01 USD a barrel at 6:35 GMT.
International Brent futures were at finished Monday in the green at 66.58 USD per barrel and rose on today’s session to trade at 66.75 USD a barrel at 10:00 GMT.
Saudi Stock Market:
Saudi Arabia's TASI ended five consecutive sessions of losses adding 0.23 percent or 19.78 points to close today’s session at 8,446.07 supported by gains in Telecommunications Services and Utilities sectors.
In the corporate space, Mediterranean and Gulf Cooperative Insurance and Reinsurance Co topped the Tadawul index adding 6.3 percent after its board appointed Tarek Bin Abdullah Al-Naeem as chief executive. While Al Babtain Power And Telecommunication surged by 5.7 percent after signing a $69.5 million contract to manufacture and supply metal structures.
On the other hand, Abdulmohsen Al Hokair Group For Tourism And Development plunged 8.1 percent after reporting a full-year net loss, due to a decline in revenue from its entertainment centers and hotels.
United Arab Emirates Stock Market:
United Arab Emirates’ shares closed Tuesday’s trading session mixed, as Abu Dhabi Main index ADI closed the session in the red while Dubai index rose by 0.25 percent.
Abu Dhabi equities closed today’s session lower, with Abu Dhabi’s leading benchmark ADI felling 0.18 percent or 8.72 points to close at 4,861.677, pressured by losses in Consumer Cyclicals and Telecommunications Services sectors.
In stock news, Abu Dhabi National and, Abu Dhabi National Hotels was the worst performers losing 8.57 and 6.33 percent respectively.
In Dubai, the index rose by 0.25 percent or 6.59 points, supported by gains in Healthcare and Telecommunications Services sectors.
In stocks news, Dubai Investments was the session’s top performer adding 2.34 percent followed by EMAAR MALLS which added 2.3 percent.
Egypt Stock Market:
Egypt’s leading benchmark EGX 30 rose by 0.28 percent on today’s session, to trade at 15,139.86 at the close, supported by Consumer Cyclicals and Non- Cyclicals sectors.
In stock news, Sixth of October Development and Investment Co was the top performer adding 7.44 percent followed by GB Auto which rose by 5.58 percent. On the flip side, Palm Hills Developments was the sessions worst performer losing 2 percent.