AGL 37.99 Decreased By ▼ -0.03 (-0.08%)
AIRLINK 215.53 Increased By ▲ 18.17 (9.21%)
BOP 9.80 Increased By ▲ 0.26 (2.73%)
CNERGY 6.79 Increased By ▲ 0.88 (14.89%)
DCL 9.17 Increased By ▲ 0.35 (3.97%)
DFML 38.96 Increased By ▲ 3.22 (9.01%)
DGKC 100.25 Increased By ▲ 3.39 (3.5%)
FCCL 36.70 Increased By ▲ 1.45 (4.11%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.49 Increased By ▲ 1.32 (10.02%)
HUBC 134.13 Increased By ▲ 6.58 (5.16%)
HUMNL 13.63 Increased By ▲ 0.13 (0.96%)
KEL 5.69 Increased By ▲ 0.37 (6.95%)
KOSM 7.32 Increased By ▲ 0.32 (4.57%)
MLCF 45.87 Increased By ▲ 1.17 (2.62%)
NBP 61.28 Decreased By ▼ -0.14 (-0.23%)
OGDC 232.59 Increased By ▲ 17.92 (8.35%)
PAEL 40.73 Increased By ▲ 1.94 (5%)
PIBTL 8.58 Increased By ▲ 0.33 (4%)
PPL 203.34 Increased By ▲ 10.26 (5.31%)
PRL 40.81 Increased By ▲ 2.15 (5.56%)
PTC 28.31 Increased By ▲ 2.51 (9.73%)
SEARL 108.51 Increased By ▲ 4.91 (4.74%)
TELE 8.74 Increased By ▲ 0.44 (5.3%)
TOMCL 35.83 Increased By ▲ 0.83 (2.37%)
TPLP 13.84 Increased By ▲ 0.54 (4.06%)
TREET 24.38 Increased By ▲ 2.22 (10.02%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 34.84 Increased By ▲ 1.87 (5.67%)
WTL 1.72 Increased By ▲ 0.12 (7.5%)
BR100 12,244 Increased By 517.6 (4.41%)
BR30 38,419 Increased By 2042.6 (5.62%)
KSE100 113,924 Increased By 4411.3 (4.03%)
KSE30 36,044 Increased By 1530.5 (4.43%)

Egypt's index made its biggest one-day gain in 15 weeks as a cabinet reshuffle on Sunday boosted hopes for an improved investment climate, while Agility dragged Kuwait's bourse to a seven-year low. Egypt's main index jumped 3.3 percent, its biggest daily gain since March 27.
Investor sentiment was boosted by the naming of a new finance minister which also suggested the government was responding after renewed protests against what many Egyptians see as a slow pace of political change.
"There's positive reaction taking place in the market," said Mohamed Radwan of Pharos Securities.
Pioneers Holding was the main gainer, rising 6.7 percent. Ezz Steel added 5.3 percent.
Osama Mourad of Arab Finance Brokerage said the reshuffle was driving the market higher because it suggested that Egypt was moving towards greater democracy.
In Kuwait, logistics firm Agility tumbled 6 percent to a 12-month low, dragging the index after a US court ruled against the firm's attempt to avert prosecution over charges of overcharging the US Army in Iraq on supply contracts the US government says totalled $9.8 billion.
"A lot of people would've thought that news would've been priced in but it spooked the market," said Matthew Wakeman, EFG-Hermes managing director for cash and equity-linked trading.
"It won't bring buyers back to the market at this price."
The index slipped 1.6 percent to its lowest close since September 2004 as none of the 40 largest stocks gained.
The benchmark has slid on worries over new market rules under which investment firms will need separate licences to operate their lending and investment businesses.
In Saudi Arabia, the benchmark hit a three-week low as some investors moved to free up cash ahead of Ramadan. The index ended 1 percent lower at its lowest close since June 25.
"There is a lot of uncertainty about what's going to happen in the next few weeks so people have booked profits," said Paul Gamble, head of research at Jadwa Investments.
"There is usually selling in the run up to Ramadan - retail investors raise money for a period of high spending."
Investors were little moved by Saudi Basic Industries Corp's surge in quarterly profit.
Heavyweight SABIC ended flat after its earnings jumped 61 percent and beat analysts' forecasts.
"Maybe people are thinking this is as good as it's going to get for SABIC for a while given the recent decline in petrochemical prices," Gamble added.
The petrochemical and banking indexes, the two main sectors, fell 1.5 and 0.6 percent respectively.
Abu Dhabi's index climbed to a four-week high, helped by telecoms operator Etisalat and banks.
Etisalat gained 0.9 percent, Abu Dhabi Islamic Bank rose 1.1 percent and Abu Dhabi Commercial Bank added 0.6 percent. The emirate's index climbed 0.3 percent to 2,733 points, its highest close since June 20.
Volumes in Dubai fell to their lowest since December 2010, with many investors waiting for second-quarter results. The benchmark shed 0.2 percent.

Copyright Reuters, 2011

Comments

Comments are closed.