MENA Market Report

MENA shares ended today’s trading session in the mixed territories, Saudi Market boosted by higher oil prices.

Bahraini stocks rose to close the session up where the main Bahraini index added 0.19 percent or 2.75 points to end up at 1,426.22 boosted by the gains in Financials and Basic Materials shares. The liquidity in the market were very lacking as 3 shares rose, 4 shares ended down while 34 shares remained flat.

However, Qatari equities closed Thursday’s trading session on negative notes as the primary Qatari benchmark dropped by 0.23 percent to end the session down at 9,953.72 pressured by the losses which have been generated by Financials and Healthcare sectors.

In oil pace, oil prices rose on Wednesday reaching the highest price for four months supported by the API report as it stated that the Oil Inventory declined during last week.

However, The U.S. crude oil fell to trade at $59.87 a barrel while Brent oil fell to trade at $67.68 a barrel at 20:00 GMT.

Saudi Stocks Exchange:

Saudi shares ended today’s session in the green as TASI added by 0.23 percent or 23.08 points to close up at 9,953.72 supported by the gains in Financial and Healthcare shares.

Looking at individual shares, Ooredoo QPSC was the biggest gainer as its share added 2.39 percent followed by Qatar Gas Transport Co Ltd as its stock advanced by 1.02 percent.

On the flip side, Barwa Real Estate Company as the biggest loser as its stock fell by 7.29 percent while Gulf International Services QSC was the second biggest loser as its stock tumbled by 0.93 percent.

United Arab Emirates Stock Market:

United Arab Emirates’ shares closed Wednesday’s trading session in the mixed territories. 

Abu Dhabi equities closed today’s session higher, with Abu Dhabi’s leading benchmark ADI added 0.57 percent or 0.57 points to close at 5,127.45, boosted by gains in Financials and Industrials sectors.

In stock news, Ras Al Khaimah Ceramics PSJ was the worst performer during the session losing 9.59 followed by National Takaful Company which fell by 3.23 percent

In Dubai, the index fell by 0.57 percent or 14.96 points, pressured by losses in Healthcare and Telecommunications Services sectors.

In stocks news, Gulf Navigation Holding PSJC was the top performer in the session surging by 2.63 percent followed by Takaful Emarat Insurance PJSC after its stock added 1.27 Percent.

Egypt Stock Market:

Egypt’s leading benchmark EGX30 advanced by 0.40 percent on today’s session, to trade at 14,782.81 at the close, supported by gains in the Telecoms and Industrials sectors.

In stock news, Cairo for Investment and Real States was the top performer adding 5.15 percent followed by Global Telecom Holding which rose by 4.76 percent. On the flip side, Heliopolice Co for Housing  and Development was the session’s worst performer losing 0.76 percent. 

 

 

 

 

 

 

 

 

© Copyright 2019 The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.