MENA Market Report 16th of July 2019

MENA stock markets closed Tuesday’s trading session in the green, as TASI, BAX, and QSI finished the session higher.

Bahraini shares rose on today’s session, were the main index BAX gained 0.1 percent or 1.518 points to settle at 1,535.49 supported by the gains in Consumer Non-Cyclical and Financials sectors.

Furthermore, Qatari equities ended today’s trading session in the green, as the primary benchmark QSI added 0.05 percent or 5.43 points to close the session at 10,600.98 due to the gains in Telecom Services, Basic Materials, and Financials sectors.

Regarding oil news, Oil prices rose on Tuesday’s trading session, as U.S. WTI crude futures were higher to trade at 59.73 USD per barrel around 16:25 GMT. Brent crude futures were also higher to trade at 66.51 USD per barrel around 16:25 GMT. 

Saudi Stocks Exchange:

Saudi stocks finished Tuesday’s session higher, as the primary index TASI rose by 0.32 percent or 28.80 points to settle at 9,073.01 supported by the gains in all sectors especially Technology and Telecom Services that rose by more than 2 percent each.

In stocks news, Maharah Human Resources Company SJSC and Salama Cooperative Insurance Company SJSC were the best performers in today’s session as they rose by 4.9 percent and 3.47 percent respectively to end the session in the green.

 

United Arab Emirates Stock Market:

United Arab Emirates' shares settled in today’s trading session in the green territory.

Abu Dhabi equities rose on today's trading session, where Abu Dhabi's leading benchmark ADI gained 0.70 percent or 35.271 points to end at 5,077.22 supported by the gains in Industrials, Consumer Non-Cyclicals, and Telecom Services sectors.

In stock news, National Marine Dredging PSC was today’s best performer, boosted by more than 9 percent to end the session higher. On the other hand, Ras Al Khaimah for White Cement and Construction Materials Co PSC was the worst performer today as the stock plummeted by almost 10 percent to settle in the red.

In Dubai, the main index DFM advanced on today’s trading session, adding by 0.25 percent or 6.77 points to finish the session at 2,722.47 due to gains in Consumer Cyclicals, Healthcare, and Telecom Services sectors.

In stocks news, Amlak Finance PJSC was the best performer today as the stock rose by 5.23 percent to finish the session in the green. Meanwhile, Gulf Navigation Holding PJSC fell today by 1.87 percent to settle in the red at the end of the session.

 

Egypt Stock Market:

Egypt's leading benchmark EGX30 rose by 0.69 percent on Tuesday to settle at 13,721.82 supported by the gains in mainly Telecom Services that gained around one percent.

In stock news, Orascom Development Egypt SAE was the best performer, advancing by 2.48 percent, while GB Auto SAE was the worst performer of the session as it fell by 3.15 percent to finish the session in the red.

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