AGL 39.18 Decreased By ▼ -0.82 (-2.05%)
AIRLINK 127.95 Decreased By ▼ -1.11 (-0.86%)
BOP 6.85 Increased By ▲ 0.10 (1.48%)
CNERGY 4.69 Increased By ▲ 0.20 (4.45%)
DCL 8.50 Decreased By ▼ -0.05 (-0.58%)
DFML 41.20 Increased By ▲ 0.38 (0.93%)
DGKC 82.30 Increased By ▲ 1.34 (1.66%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 74.20 Decreased By ▼ -0.23 (-0.31%)
FFL 11.83 Increased By ▲ 0.09 (0.77%)
HUBC 110.10 Increased By ▲ 0.52 (0.47%)
HUMNL 14.17 Increased By ▲ 0.42 (3.05%)
KEL 5.22 Decreased By ▼ -0.09 (-1.69%)
KOSM 7.59 Decreased By ▼ -0.13 (-1.68%)
MLCF 39.00 Increased By ▲ 0.40 (1.04%)
NBP 63.60 Increased By ▲ 0.09 (0.14%)
OGDC 192.74 Decreased By ▼ -1.95 (-1%)
PAEL 25.61 Decreased By ▼ -0.10 (-0.39%)
PIBTL 7.27 Decreased By ▼ -0.12 (-1.62%)
PPL 153.00 Decreased By ▼ -2.45 (-1.58%)
PRL 25.50 Decreased By ▼ -0.29 (-1.12%)
PTC 17.52 Increased By ▲ 0.02 (0.11%)
SEARL 82.10 Increased By ▲ 3.45 (4.39%)
TELE 7.63 Decreased By ▼ -0.23 (-2.93%)
TOMCL 33.40 Decreased By ▼ -0.33 (-0.98%)
TPLP 8.44 Increased By ▲ 0.04 (0.48%)
TREET 16.30 Increased By ▲ 0.03 (0.18%)
TRG 56.60 Decreased By ▼ -1.62 (-2.78%)
UNITY 27.56 Increased By ▲ 0.07 (0.25%)
WTL 1.35 Decreased By ▼ -0.04 (-2.88%)
BR100 10,495 Increased By 50.1 (0.48%)
BR30 31,049 Decreased By -140.2 (-0.45%)
KSE100 98,129 Increased By 330.8 (0.34%)
KSE30 30,633 Increased By 152.5 (0.5%)
Markets

Most of Gulf flat; Saudi index rises

  • Saudi index registers weekly gain.
  • Brent falls after nine sessions of gains.
  • Qatar cuts March Marine, Land crude oil OSP.
Published February 11, 2021

Most stock markets in the Gulf ended steady on Thursday in the absence of any fresh index-moving catalysts, although Saudi index extended gains for a sixth consecutive session.

Saudi Arabia's benchmark index rose 0.5%, with Al Rajhi Bank gaining 0.9% and Saudi Arabian Mining Company advancing 2.6%.

The index also managed to close the week 3.8% firmer.

The kingdom's economy shrank by 3.8% in the fourth quarter compared with the same period a year earlier, preliminary government data showed on Wednesday, but it grew 2.8% on a quarterly basis.

Oil prices, a key catalyst for financial markets in the Gulf region, fell as renewed lockdowns and the emergence of new coronavirus variants weighed on the prospects for a swift demand recovery.

Brent crude lost 52 cents, or 0.9%, to $60.95 a barrel by 1122 GMT.

Dubai's main share index edged up 0.1%, helped by a 0.4% rise in Emirates NBD Bank and a 1.3% increase in the diversified Gulf-based investment group Dubai Investments .

The index's gains, however, were curbed by losses at blue-chip developer Emaar Properties, which retreated 1.3%.

In Abu Dhabi, the index finished flat, with telecoms giant Etisalat rising 0.4%, ahead of its earnings.

The Qatari index eased 0.1%, hit by a 0.7% fall in petrochemical firm Industries Qatar.

Qatar Petroleum has set the March official selling price (OSP) for its Marine crude at 65 cents a barrel above the average of Platts Oman and Dubai quotes, down 5 cents from the previous month, a pricing document showed on Thursday.

Comments

Comments are closed.