AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 131.22 Increased By ▲ 2.16 (1.67%)
BOP 6.81 Increased By ▲ 0.06 (0.89%)
CNERGY 4.71 Increased By ▲ 0.22 (4.9%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.47 Increased By ▲ 0.65 (1.59%)
DGKC 82.09 Increased By ▲ 1.13 (1.4%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 72.87 Decreased By ▼ -1.56 (-2.1%)
FFL 12.26 Increased By ▲ 0.52 (4.43%)
HUBC 110.74 Increased By ▲ 1.16 (1.06%)
HUMNL 14.51 Increased By ▲ 0.76 (5.53%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.61 Decreased By ▼ -0.11 (-1.42%)
MLCF 38.90 Increased By ▲ 0.30 (0.78%)
NBP 64.01 Increased By ▲ 0.50 (0.79%)
OGDC 192.82 Decreased By ▼ -1.87 (-0.96%)
PAEL 25.68 Decreased By ▼ -0.03 (-0.12%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.07 Decreased By ▼ -1.38 (-0.89%)
PRL 25.83 Increased By ▲ 0.04 (0.16%)
PTC 17.81 Increased By ▲ 0.31 (1.77%)
SEARL 82.30 Increased By ▲ 3.65 (4.64%)
TELE 7.76 Decreased By ▼ -0.10 (-1.27%)
TOMCL 33.46 Decreased By ▼ -0.27 (-0.8%)
TPLP 8.49 Increased By ▲ 0.09 (1.07%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.40 Decreased By ▼ -0.82 (-1.41%)
UNITY 27.51 Increased By ▲ 0.02 (0.07%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,504 Increased By 59.3 (0.57%)
BR30 31,226 Increased By 36.9 (0.12%)
KSE100 98,080 Increased By 281.6 (0.29%)
KSE30 30,559 Increased By 78 (0.26%)

DUBAI: Dubai and Qatar indexes edged up on Wednesday, in tandem with global markets, as investors digested a mixed inflation picture, while Saudi Arabia eased after rallying for seven sessions.

Global shares were little changed, while supply concerns amid Russia’s ongoing invasion of Ukraine helped push oil prices higher.

Data on Wednesday showed no let-up for Britain after inflation hit a 30-year high of 7%, although this came a day after a lower-than-expected US print had given some traders cause to hope policy would be tightened more slowly.

Saudi Arabia’s benchmark index fell 0.7% as financial stocks dragged. The index had risen more than 4% over the past seven sessions.

“The increases have prompted investors to move to secure their gains. However, the market remains on a strong course and could record new increases in the coming days,” said Daniel Takieddine, chief executive officer at MENA BDSwiss.

Alaseel and Arab Bank fell 1.6% and 0.3%, respectively, after the stocks began trading ex-dividend.

Dubai’s main share index closed up 0.3%, with shares of Dewa Electricity and Water Authority falling 2.1% on their second day on the stock exchange.

The stock’s stellar debut valued it at 149 billion dirhams ($40.57 billion) on Tuesday and is expected to heat up Dubai’s IPO pipeline.

The Abu Dhabi index was flat.

The Qatari index rose 0.5% and has risen in seven of the past eight sessions.

Outside the Gulf, Egypt’s blue-chip index fell 0.5%, with index heavyweight Commercial International Egypt Bank weighing on sentiment with its 1.1% drop.

Comments

Comments are closed.