AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)
Markets

Most major Gulf markets gain in early trade; Abu Dhabi dips

  • The sector expanded in only six months of last year as the COVID-19 pandemic pummelled the economy of the Middle East's tourism and commerce hub.
Published February 10, 2021

Most major stock markets in the Gulf traded higher on Wednesday, extending gains from the previous day, with Saudi Arabia on track to extend gains for fifth consecutive session.

Saudi Arabia's benchmark index rose 0.5%, boosted by a 3.9% jump in National Commercial Bank (NCB) after it reported higher-than-expected full year profit.

NCB, the kingdom's biggest lender, posted a net profit of 11.44 billion riyals ($3.05 billion) in the year that ended on Dec. 31, compared to 11.40 billion riyals in the same period a year earlier.

Analysts had projected the bank will post a net profit of 10.25 billion riyals, an average forecast of 10 analysts' estimates available in Refinitiv data showed.

In Dubai, the index edged up 0.1%, with Emirates NBD Bank rising 0.4%, while blue-chip developer Emaar Properties added 0.5%.

The emirate's non-oil private sector expanded for the second consecutive month in January, although at a marginal pace that was a fraction slower than the previous month as business activity and new orders softened.

The sector expanded in only six months of last year as the COVID-19 pandemic pummelled the economy of the Middle East's tourism and commerce hub.

The Abu Dhabi index eased 0.1%, hit by a 0.5% fall in the country's largest lender First Abu Dhabi Bank.

Qatar's benchmark rebounded 0.7%, driven by a 2.5% rise in petrochemical firm Industries Qatar.

Comments

Comments are closed.