Most Stock Markets in MENA ended today’s session in mixed territory, as Political tension between Qatar and other GCC countries continue to weigh on Prices.
Saudi Arabia, together with the United Arab Emirate, Bahrain and Egypt cut ties with Qatar early this week with allegations that Doha is supporting extremist group in the region, one of the action taken by these nations is cut all relations in addition to transport links with Doha. After the disputes Qatar’s stock market dropped 7 percent after the diplomatic ties were cut.
On Wednesday, Doha’s main benchmark Qatar exchange Index continued to fall amid political tension with GCC and Egypt, the index was down 1.04 percent to end the session at 8,965.01,
Elsewhere Kuwait’s Main benchmark Boursa Kuwait 15 index fell 0.72 percent to trade at 902.76 at the close. Meanwhile in Oman, Muscat Sen General Index also end the session lower by 0.64 percent to settle at 6,377.1700 at the close.
• Saudi Arabia Stock Market
Saudi equities settled slightly higher led by Gains in the Consumer Non-Cyclicals, Energy and Telecommunications Services sectors, with Saudi Arabia’s stock market index rising by 0.19 percent to close at 6,946.42 up from previous session close of 6,933.36.
Today’s gainer marginally outnumbered the losers by 24 shares, with 87 gainers, 63 losers and 23 unchanged.
The best performers of the session on the Tadawul All Share Index were, Al Rajhi Company for Cooperative Insurance SJSC that rose by 4.57 percent or 2.25 points to trade at 51.50 at the close. Meanwhile, Etihad Atheeb Telecommunication Co SJSC added 4.07 percent or 0.35 points to end at 8.95 and Saudi Ceramic Co SJSC was up by 4.01 percent or 1.15 points to 29.80 in late trade.
The worst performers of the session on the Tadawul All Share Index were Al Baha Investment and Development Company SJSC that fell by 4.69 percent or 1.3 points to trade at 26.40 at the close. Saudi Cement Co SJSC. declined by 3.00 percent or 1.60 points to end at 51.70 and United International Transportation Co SJSC was down 1.92 percent or 0.42 points to 21.40.
• United Arab Emirates Stock Market
Market in the United Arab Emirates End the session on mixed notes, as Abu Dhabi Securities Exchange index finished lower. On the other hand, Dubai’s DFM end the session higher.
Abu Dhabi Securities Exchange index closed slightly lower as losses in Financial and Basic Materials sectors weighed on the index, the closed lower by 0.14 percent to end the session at 4454.14.
Meanwhile, Dubai Financial Market General Index traded higher at the close, prices were supported by gains in Financials, Consumer Cyclicals and Industrials sectors. The index surged by 2.52 percent to finish at 3406.01.
Rising stocks outnumbered the losers on the Dubai Stock Exchange by 21 to 5 and 10 ended unchanged; while on the Abu Dhabi Stock Exchange, 4 declined and 14 advanced, while 43 ended unchanged.
The best performers of the session on the DFM General Index were, Emaar Properties PJSC which rose 8.57 percent or 0.60 points to trade at 7.600 at the close. Meanwhile, Drake and Scull International PJSC added 5.26 percent or 0.02 points to end at 0.400 and Amlak Finance PJSC was up 5.17 percent or 0.048 points to 0.977 in late trade.
The worst performers of the session on the DFM General Index were Commercial Bank of Dubai PSC which fell 3.33 percent or 0.15 points to trade at 4.350 at the close. Gulf Navigation Holding PJSC declined 2.65 percent or 0.04 points to end at 1.470 and Dubai Islamic Insurance and Reinsurance Co PSC was down 1.80 percent or 0.017 points to 0.928.
On the other hand, the best performers of the session on the Abu Dhabi Exchange General Index were Abu Dhabi National for Building Materials Co PJSC which rose 11.11 percent to 0.60, Dana Gas PJSC which was up 10.87 percent to settle at 0.51 and RAK Properties PJSC added 5.14 percent to close at 0.61.
The worst performers of the session on the Abu Dhabi Exchange General Index were, Gulf Cement Co PSC which was down 6.25 percent to 0.90 in late trade, Sharjah Islamic Bank PJSC which lost 2.17 percent to settle at 1.35 First Abu Dhabi Bank PJSC which was down 2.17 to 10. at the close.
• Egypt Stock Market
As heavy losses in the Industrials sector, and Consumer Non-Cyclical Sector pressure prices downward, the index edged lower on Wednesday.
The Egyptian stock market index EGX30 was down 0.05 percent to end at 13,632.98.
Today’s gainers outnumbered the losers by 16 to 13 with 1 share was left unchanged.
The best performers of the session on the EGX 30 were, Ezz Steel Co SAE that rose by 7.47 percent to end the session at 20.15, Credit Agricole Egypt SAE rose for the second consecutive session to add 5.29 percent or 2.21 points to settle at 44.00 and Amer Group Holding Co SAE was up by 2.86 percent to trade at 0.36 at the close.
The worst performers of the session on the EGX 30 were, Orascom Construction Ltd shedding 3.39 percent or 4.1 point to trade at 117.01, followed Porto Group Holding SAE dropping 2.44 percent or 0.01 points to end at 0.40 and Juhayna Food Industries SAE ended 1.64 percent lower to settle at 8.41.
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