MENA shares ended Wednesday’s session in mixed territories with the Saudi index rising supported by oil prices.
Bahraini shares rose on Wednesday's session with the primary Bahraini index BAX adding 0.44 percent or 6.213 points to end the session in the green at 1,411.212 supported by gains in the Financial and telecommunication services sectors.
Meanwhile, Qatar shares closed the session relatively flat, where Doha main index QSI edged lower by 0.04 percent or 4.19 points to close at 9,761.69 pressured by losses in the Basic materials and Healthcare sectors.
In stocks news, Mesaieed Petrochemical Holding was the worst performer losing 3.24 percent followed by United Development Company which fell by 2.32 percent.
In the Energy news, oil prices rose on today’s trading session due to continuous supply cuts from OPEC in addition to the U.S. sanctions against Venezuela and Iran.
The U.S. WTI crude oil futures ended Tuesday’s session higher at 57.06 USD per barrel and extended their gains to trade higher at 57.22 USD a barrel at 8:00 GMT.
International Brent futures finished Tuesday in the green at 66.80 USD per barrel and rose on today’s session to trade at 66.88 USD a barrel at 8:00 GMT.
Saudi Stock Market:
Saudi Arabia's TASI rose on today’s sessions adding 0.95 percent or 80.61 points to end today’s session at 8,526.62 supported by gains in Utilities and Telecommunications Services sectors.
In the corporate space, The Middle East's largest petrochemical Company Saudi Basic Industries (SABIC) rose 1 percent in active trade after it said it would merge its units Saudi Petrochemical Co and Arabian Petrochemical Co.
Saudi Industrial Export was the top session performer adding 10 percent followed by National Industrialization which added 6.58 percent.
United Arab Emirates Stock Market:
United Arab Emirates’ shares closed Wednesday’s trading session mixed, as Abu Dhabi Main index ADI closed the session in the red while Dubai index ended the session flat.
Abu Dhabi equities closed today’s session lower, with Abu Dhabi’s leading benchmark ADI felling 0.86 percent or 41.84 points to close at 4,819.83, pressured by losses in Telecommunications Services and Energy sectors.
In stock news, United Arab Bank was the worst performer during the session losing 9.5 followed by Emirates Telecommunications Group which fell by 4 percent
In Dubai, the index rose by 0.05 percent or 1.34 points, supported by gains in Industrials and Healthcare Services sectors.
In stocks news, Aramex was the top performer in the session surging by 9.1 percent in its heaviest trading volume since December 2009 after the company said that Australia Post Transaction Services had sold its stake.
Australia Post Transaction Services sold its 10 percent stake in the firm for dirhams $164 million.
Egypt Stock Market:
Egypt’s leading benchmark EGX 30 fell by 0.09 percent on today’s session, to trade at 15,125.84 at the close, pressured by losses in the Industrials and Telecommunications Services sectors.
In stock news, Heliopolis Co for Housing and Development was the top performer adding 10 percent followed by Arab Co for Asset Management and Development which rose by 2.4 percent. On the flip side, Juhayna Food Industries was the session’s worst performer losing 3.5 percent.