MENA markets are still suffering due to the recent political events and the decline in oil prices, where oil reached the lowest price since two decades.
Saudi Arabia stock Market continued its uptrend as investors are optimistic regarding to some benefits might be generated from economic reforms and from MSCI decision.
Some of yesterday’s top gainers continued its uptrend with the only listed miners (Saudi Arabia Mining) rose by 9.4% ahead of the comments from the new crown prince of the importance of expanding mining sectors to reduce the dependency of the kingdom on oil export.
Furthermore, Qatar market is still surviving after the political issues that weight on the country, Qatar’s index ended Thursday’s session up by 2.88 percent reaching 9030.44 points after four sessions of declines.
• Saudi Arabia Stock Market
KSA stocks were higher on Thursday as the profits generated from Energy & Utilities, Retail and Agriculture & Food sectors.
Today’s gainers on Tadawul all shares outnumbered the losers with 112 gainers, 56 lose and 10 unchanged.
The best performers of the session on the Tadawul All Share were Saudi Arabian Mining Company, which rose 9.35% to trade at 49.10 at the close. Meanwhile, Jazan Development Co. added 6.82% to end at 14.10 and Almarai Company was up 5.56% to 95.00 in late trade.
The worst performers of the session were National Industrialization Co, which fell 3.03% to trade at 14.06 at the close. Alinma Bank declined 2.82% to end at 15.18 and BANK ALBILAD was down 2.67% to 18.98.
• United Arab Emirates Stock Market
United Arab Emirates Equities were lower as the losses generated by Consumer Staples, Finance & Investment and Transport sectors. DFM fell by 0.47% to close at 3402.31, while ADX rose by 0.62% to close at 4431.57.
Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 26 to 10 and 3 ended unchanged; on the Abu Dhabi, 11 fell and 8 advanced, while 5 ended unchanged.
The best performers of the session on the DFM General were National Cement Company P.S.C., which rose 5.00% to trade at 3.150 at the close. Meanwhile, Damac Properties Dubai Co PSC added 2.36% to end at 3.040 and Gulf Navigation Holding PJSC was up 1.39% to 1.460 in late trade.
The worst performers of the session were Marka Pjse , which fell 3.56% to trade at 0.73 at the close. Drake & Scull International PJSC declined 3.54% points to end at 0.381 and SHUAA Capital PSC was down 3.31% to 1.170.
The worst performers of the session were Marka Pjse , which fell 3.56% to trade at 0.73 at the close. Drake & Scull International PJSC declined 3.54% to end at 0.381 and SHUAA Capital PSC was down 3.31% points to 1.170.
The top performers on the ADX General were Ad Shipbldg Co which rose 14.80% to 2.870, Commercial Bank International which was up 14.29% to settle at 1.280 and Rak Ceramics which gained 8.23% to close at 2.500.
• Egypt Stock Market
The Egyptian stock market was mostly higher on today’s trading session, with its index EGX30 rose by 0.30% or 40.70 points to ending at 13417.1, as the profit generated by Telecommunications Services, Industrials and Consumer non-cyclicals.
Today’s losers on the EGX30 are equal to gainers with 15 losers, 15 gainer and 0 flat stocks.
The best performer of the session on the EGX 30 were, Amer Group Holding Co SAE rising by 2.63%, Porto Group Holding SAE adding 2.56% and Eastern Co SAE settling 2.21% higher at 299.99.
The worst performers of the session on the EGX 30 were, Orascom Telecom Media and Technology Holding SAE plummeting declined by 2.94%, Arabian Food Industries Co SAE fell by 2.86%, and Juhayna Food Industries SAE ended 2.25% lower at 7.83.
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