AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,809 Increased By 41.1 (0.42%)
BR30 29,711 Increased By 311.1 (1.06%)
KSE100 92,406 Increased By 468.1 (0.51%)
KSE30 28,874 Increased By 129.9 (0.45%)
Markets

Major Gulf bourses end mixed; ACWA Power surges on debut

  • Saudi Arabia's benchmark index dropped 0.5%, with Dr Sulaiman Al-Habib Medical Services declining 1.1%, while Al Rajhi Bank was down 0.2%
Published October 11, 2021

Major stock markets in the Gulf ended mixed on Monday, with the Saudi index extending losses from the previous session.

Saudi Arabia's benchmark index dropped 0.5%, with Dr Sulaiman Al-Habib Medical Services declining 1.1%, while Al Rajhi Bank was down 0.2%.

The Saudi stock market fell as traders took profits after the main index reached a new interim high, said Wael Makarem, senior market strategist at Exness.

"The market fell despite the strong oil prices and the trading start of Acwa Power, two factors that should help the bourse rebound."

However, shares in Saudi Arabian renewable energy utility ACWA Power International jumped 30% on its market debut after a $1.2 billion IPO, the kingdom's biggest since Saudi Aramco's massive public offering in 2019.

In Abu Dhabi, the index gained 0.7%, buoyed by a 1.1%rise in the largest lender First Abu Dhabi Bank and a 3.5% leap in Alpha Dhabi Holding.

Most Gulf bourses end higher; Qatar falls

Dubai's main share index eased 0.1%, hit by a 0.6% fall in sharia-compliant lender Dubai Islamic Bank and a 0.5% decrease in blue-chip developer Emaar Properties .

Emaar Properties said on Monday shareholders had approved an all-share merger with Emaar Malls.

The Qatari index finished 0.1% higher, with Qatar National Bank (QNB) gaining 0.4%.

QNB, the Gulf's biggest lender, posted an 8% increase in nine-month net profit to 10.3 billion Qatari riyals ($2.81 billion), citing loan growth.

Separately, Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum, to reflect a broader strategy. However, it said it had no plans to sell assets to raise funds as other Gulf state producers have.

Outside the Gulf, Egypt's blue-chip index climbed 0.5%, with top lender Commercial International Bank rising 1.6%.

SAUDI ARABIA fell 0.5% to 11,512

ABU DHABI gained 0.7% to 7,783

DUBAI eased 0.1% to 2,770

QATAR added 0.1% to 11,569

EGYPT up 0.5% to 10,715

BAHRAIN down 0.1% to 1,699

OMAN lost 0.3% to 3,958

KUWAIT dropped 0.8% to 7,412

Comments

Comments are closed.