AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)

DUBAI: Major Gulf markets weakened on Thursday, tracking global shares, as a sudden sell-off on Wall Street and lingering COVID-19-induced restrictions soured investor sentiment worldwide.

Among Gulf markets, the Dubai benchmark led the declines, falling 1.1%. The index also posted its first weekly loss in four, shedding 1.4% over the five sessions to Thursday.

Blue-chip developer Emaar Properties was the worst performer on the Dubai index, with just two constituents in the benchmark finishing in the positive territory.

In Abu Dhabi, the index closed 0.4% lower, dragged mainly by a 0.6% decline in telecom giant Etisalat and an about 2% fall in real estate stock Aldar Properties. Abu Dhabi had gained 1.4% in the previous session. The index also managed a fourth successive weekly gain, firming 0.5% during the week. The Qatari index lost nearly 1%, with Qatar Islamic Bank shedding 2.4% to be the worst performer on the benchmark.

The index also logged a weekly loss of 1.8%, declining in four of the last five trading days. Qatar’s Commercial Bank Chief Executive Officer Joseph Abraham said the firm plans to raise at least $1 billion through bond issues in the coming months, as the bank looks to take advantage of positive market conditions. The bank’s shares followed the broader market, slipping 1.2%.

Saudi Arabia’s benchmark index bucked the trend to end 0.3% higher, with Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm gaining about 1%.

The index, however, posted a weekly loss of 0.8%, its second straight decline for the period. Outside the Gulf, Egypt’s index firmed 0.5%, buoyed by financial stocks.

Benchmark heavyweight Commercial International Bank , Egypt’s largest private bank, rose 0.4%, while financial firm Pioneer Holdings added 7.7%.

Comments

Comments are closed.