Most of equity markets in Mena were higher on Wednesday as Qatar’s shares rebounded from losses and as the Saudi Arabia bank increased their expectation for the interest rate hike in U.S.A. Moreover Saudi Arabia will follow the movement of U.S interest rate as its currency is tied with USD.
Qatar’s index rebounded from the losses generated last week due to the diplomatic crisis in the region last week, where Qatar’s index added 1.04% to close at 9189.98. However the index added 7% from last Monday.
Meanwhile in Kuwait, Boursa Kuwait 15 Index rose by 0.3 percent to end the session at 898.46, while Oman index fell by 0.24% to close at 5300.710.
• Saudi Arabia Stock Market
After the losses generated by the sectors of Media & Pushing, Financial Services and Energy & Utilities, Saudi equities were weaker on Wednesday, declined by 0.48% to close at 6854.00.
Today’s gainers outnumbered the losers by 16 shares, with 87 gainers, 71 losers and 20 unchanged.
The best performers of the session on the Tadawul All Share were Al-Rajhi Cooperative Insurance, which rose 5.39% to trade at 51.80 at the close. Meanwhile, The Saudi British Bank added 4.82% to end at 23.48 and Amana Cooperative Insurance Co was up 4.24% at 17.20 in late trade.
The worst performers of the session were Al Hammadi Co , which fell 4.7% to trade at 35.45 at the close. Alujain Corporation declined 3.72% to end at 24.84 and Al Andalus Property Co was down 1.77% to 23.88.
• United Arab Emirates Stock Market
As the profits generated by Insurance, Consumer Staples, Services and Transport sectors, and due to the losses generated by Finance & Investment, Telecoms and Real Estate & Construction sectors, UAE’s equities were mixed on Wednesday.
At the close in Dubai, the DFM General rose 0.26% at 3450.78 reaching highest level since one month, while the ADX General index declined 0.04% at 4535.57.
Rising stocks outnumbered the declining ones on the Dubai Stock Exchange by 18 to 14 and 7 ended unchanged; while on the Abu Dhabi Stock Exchange, 14 declined and 6 advanced, while 11 ended unchanged.
The best performers of the session on the DFM General were DXB Entertainments, which rose 4.45% to trade at 0.793 at the close. Meanwhile, Gulf General Investments Company added 2.83% to end at .400 and Arabtec Holding PJSC was up 1.96% at 0.781 in late trade.
The worst performers of the session were SHUAA Capital PSC, which fell 3.45% to trade at 1.400 at the close. Commercial Bank of Dubai P.S.C. declined 2.30% to end at 4.250 and Takaful Emarat PSC was down 2.13% at 2.300.
On the other hand, The top performers on the ADX General were Sharjah Cement AD which rose 7.61% to 0.990, Abu Dhabi National for Building Materials Co PJSC which was up 4.45% to settle at 0.580 and Rak Cement Co which gained 3.75% to close at 0.830.
The worst performers were Commercial Bank International which was down 8.33% to 1.210 in late trade, Green Crs Ins which lost 3.85% to settle at .750 and Rak Properties was down 2.94% to 0.660 at the close.
• Egypt Stock Market
The Egyptian stock market index EGX30 fell by 0.22 percent to end at 13,502.12 as the losses generated by Consumer cyclical, Telecommunication services and financial sectors.
The best performer of the session on the EGX 30 were, eastern Co SAE rising by 3.21%, Midnet Nasr For Housing and Development SAE adding 2.15% and Emaar Misr Development SAE settling 2.15% higher at 2.92.
The worst performers of the session on the EGX 30 were, Porto Group Holding SAE shading 7.32%, Juhayna Food Industries SAE dropping 3.71% and Credit Agricole Egypt SAE ended 3.71% lower at 8.05.
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