AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

DUBAI: Dubai’s main index surged over 1% on Monday amid high expectations for state utility Dubai Electricity and Water Authority’s (DEWA) initial public offering, while sentiment was muted in Egypt after inflation surged.

DEWA, likely to begin trading on Tuesday, is set to raise 22.32 billion dirhams ($6.1 billion) in the Gulf’s biggest IPO since Saudi Aramco’s record deal in 2019.

“The launch could reinvigorate trading volumes as demand for the stock is still high,” said Wael Makarem, senior market strategist – MENA at Exness.

Dubai’s main share index ended up 1.3%, posting its best day in two weeks. Air Arabia drove the gains and ended up nearly 9%.

Outside the Gulf, Egypt’s blue-chip index dropped 1.6% in its sixth straight session of losses.

Egypt’s annual urban consumer price inflation accelerated in March to 10.5%, its highest in nearly three years, as commodity shortages drove price increases in the region.

Financials dragged the index, and only five stocks ended marginally higher.

The Qatari index extended gains to over 3% from the previous session to hit a record high, before paring the gains to end 0.1% higher.

Qatar National Bank rose 3.4% after it posted a 9% rise in quarterly profit.

Saudi Arabia’s benchmark index closed 0.7% up.

Shares of Saudi Basic Industries, Northern Region Cement Company and Saudi Cement Company fell between 2% and 4% as these stocks began trading ex-dividend.

In Abu Dhabi, the index rose 0.7%.

SAUDI ARABIA up 0.7% to 13,483

ABU DHABI rose 0.7% to 10,166

DUBAI added 1.3% to 3,588

QATAR rose 0.1% to 14,494

EGYPT shed 1.6% to 10,729

BAHRAIN was down 1.1% to 2,100

OMAN flat at 4,241

KUWAIT flat at 9,133.

Comments

Comments are closed.