INGOT Brokers AU | MENA Market Report (2017-07-31)

MENA Market Report (2017-07-31)

MENA’s stock markets were mixed during today’s trading session, where Abu Dhabi and Saudi Arabia’s stock market were affected by the poor corporate earnings as the movements of the large cap stock.

On the other hand, the blue-chips gains led Dubai Financial market higher.

 

•          Saudi Arabia Stock Market

In Saudi Arabia, the stock market traded mostly trendless after witnessing some declines in the opening hours following the gains in Consumer Non-Cyclicals sector and the losses in the Energy sector.

Today’s losers slightly outnumber the gainer by 9, with 83 losers, 74 gainers and 18 unchanged stocks. Moreover, the stock market index Tadawul All Share Index closed lower at 7,094.17 marginally above the session’s low after shading 21.67 points or 0.30 points where it realized the majority of its losses in the first trading hour.

The best performers on Tadawul All Share Index were, Middle East Paper Co SJSC surging by 9.93 percent, Tourism Enterprises Co SJSC gaining 2.7 points and Ash Sharqiyah Development Co SJSC ending higher at 51.00.

Meanwhile, the worst performers on Tadawul All Share Index were, Mediterranean and Gulf Cooperative Insurance and Reinsurance Co SJSC plummeting by 7.54 percent, Saudi Printing and Packaging Co SJSC losing 1.06 points and Al Jouf Agricultural Development Co SJSC ending 1.4 points lower at 27.61.

 

•          United Arab Emirates Stock Markets

United Arab Emirates’ stock markets were mixed during today’s trading session, where Dubai Financial Market ending in the green led by the gains from Consumer Non-Cyclicals and Consumer Cyclicals sectors while Abu Dhabi Securities Exchange traded mixed following the gains in Industrials and Utilities sectors as well as the losses in Healthcare sector.

In the two markets, the gainers outnumbered the loser with relatively a large number of flat shares; Dubai Financial Market had 14 gainers, 7 losers and 15 flat stocks while Abu Dhabi Securities Exchange had 14 gainers, 7 losers and 40 unchanged shares.

Dubai Financial Market General Index gained 24.30 points or 0.67 percent to setter higher at 3,366.18, while Abu Dhabi Securities Exchange General Index ended lower by 0.24 percent or 10.96 points at 4,566.15 in its mixed trading session today.

The best performers on Dubai Financial Market General Index were, Marka PJSC rising by 2.11 percent, Dubai Islamic Bank PJSC gaining 0.11 points and Amlak Finance PJSC ending higher at 1.140.

Meanwhile, the worst performers Dubai Financial Market General Index were, Gulf Navigation Holding PJSC shading 3.57 percent, Shuaa Capital PSC losing 0.02 points and Emaar Malls Group PJSC ending 0.03 points lower at 2.480.

The best performers on Abu Dhabi Securities Exchange General Index were, Abu Dhabi Aviation SJSC surging by 9.62 percent, Abu Dhabi National Energy Co PJSC adding 0.02 points and Union National Bank PJSC ending higher at 4.53.

Meanwhile, the worst performers on Abu Dhabi Securities Exchange General Index were, Gulf Medical Projects Co PSC plunging by 10.00 percent, National Bank of Ras Al-Khaimah PSC losing 0.42 points and Union Cement Co PSC ending 0.05 points lower at 1.25.

 

•          Egypt Stock Market

Egyptian stock market ended in the red despite its gains in the early parts of the session following the decline in Financials, Consumer Cyclicals, Consumer Non-Cyclicals and Industrials sectors, with its EGX 30 index settled at 13,419.38 after losing 0.45 percent of 60.72 points down from 13,477.92.

During today’s trading session the EGX 30’s movers were mostly losers, with 25 losers, 3 gainers and 2 flat shares.

The best performers on EGX 30 were, Telecom Egypt Co SAE rising by 2.31 percent, Arabian Food Industries Co SAE gaining 0.09 points and Cairo for Oil and Soap Co SAE ending 0.63 percent higher at 11.11.

Meanwhile, the worst performers on EGX 30 were, Emaar Misr for Development SAE plummeting by 5.26 percent, Porto Group Holding SAE losing 0.02 points and Amer Group Holding Co SAE ending 0.01 points lower at 0.32.

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