AGL 38.50 Increased By ▲ 0.93 (2.48%)
AIRLINK 131.71 Decreased By ▼ -0.79 (-0.6%)
BOP 5.59 Decreased By ▼ -0.05 (-0.89%)
CNERGY 3.84 Increased By ▲ 0.07 (1.86%)
DCL 8.71 Decreased By ▼ -0.16 (-1.8%)
DFML 40.80 Decreased By ▼ -0.20 (-0.49%)
DGKC 88.70 Decreased By ▼ -1.46 (-1.62%)
FCCL 35.29 Increased By ▲ 0.21 (0.6%)
FFBL 66.41 Decreased By ▼ -0.09 (-0.14%)
FFL 10.49 Increased By ▲ 0.34 (3.35%)
HUBC 109.70 Increased By ▲ 3.30 (3.1%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.83 Decreased By ▼ -0.03 (-0.62%)
KOSM 7.10 Increased By ▲ 0.25 (3.65%)
MLCF 42.55 Increased By ▲ 0.75 (1.79%)
NBP 59.49 Increased By ▲ 0.91 (1.55%)
OGDC 184.21 Increased By ▲ 2.96 (1.63%)
PAEL 25.59 Decreased By ▼ -0.11 (-0.43%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.80 Decreased By ▼ -0.60 (-0.4%)
PRL 23.58 Increased By ▲ 0.36 (1.55%)
PTC 16.45 Increased By ▲ 1.21 (7.94%)
SEARL 69.22 Increased By ▲ 0.43 (0.63%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.09 Increased By ▲ 0.09 (0.25%)
TPLP 7.56 Increased By ▲ 0.16 (2.16%)
TREET 14.19 Decreased By ▼ -0.05 (-0.35%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.89 Increased By ▲ 0.49 (1.86%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,828 Increased By 60.4 (0.62%)
BR30 29,808 Increased By 407.9 (1.39%)
KSE100 92,377 Increased By 439.4 (0.48%)
KSE30 28,829 Increased By 85.7 (0.3%)

DUBAI: Most Gulf stock markets closed lower on Tuesday, as falling oil prices and expectations of an interest rate hike by the US Federal Reserve subdued investor sentiment, while Abu Dhabi bucked trend.

Oil prices - a key catalyst for the Gulf’s financial markets - slipped by more than 1% on Tuesday with March Brent crude futures 1.25% lower at $83.97 a barrel by 1414 GMT.

Investors expect the Federal Reserve will raise rates by 25 basis points on Wednesday, and any deviation from that script would be a real shock.

Most Gulf currencies are pegged to the US dollar, and Saudi Arabia, the United Arab Emirates and Qatar usually mirror US monetary policy changes.

The benchmark index in Saudi Arabia lost 0.2%, extending losses into a second session. The index was weighed down by a 1.8% loss in Saudi Basic Industries and a 0.2% fall in luxury real estate developer Retal Urban Development.

Comments

Comments are closed.