AGL 37.99 Increased By ▲ 0.42 (1.12%)
AIRLINK 131.50 Decreased By ▼ -1.00 (-0.75%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.79 Increased By ▲ 0.02 (0.53%)
DCL 8.65 Decreased By ▼ -0.22 (-2.48%)
DFML 40.76 Decreased By ▼ -0.24 (-0.59%)
DGKC 87.40 Decreased By ▼ -2.76 (-3.06%)
FCCL 34.69 Decreased By ▼ -0.39 (-1.11%)
FFBL 65.70 Decreased By ▼ -0.80 (-1.2%)
FFL 10.35 Increased By ▲ 0.20 (1.97%)
HUBC 109.30 Increased By ▲ 2.90 (2.73%)
HUMNL 14.10 Increased By ▲ 0.70 (5.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.81 Decreased By ▼ -0.04 (-0.58%)
MLCF 41.30 Decreased By ▼ -0.50 (-1.2%)
NBP 59.35 Increased By ▲ 0.77 (1.31%)
OGDC 180.75 Decreased By ▼ -0.50 (-0.28%)
PAEL 25.41 Decreased By ▼ -0.29 (-1.13%)
PIBTL 5.89 Increased By ▲ 0.06 (1.03%)
PPL 145.29 Decreased By ▼ -3.11 (-2.1%)
PRL 23.22 No Change ▼ 0.00 (0%)
PTC 15.42 Increased By ▲ 0.18 (1.18%)
SEARL 67.89 Decreased By ▼ -0.90 (-1.31%)
TELE 7.25 Increased By ▲ 0.01 (0.14%)
TOMCL 35.60 Decreased By ▼ -0.40 (-1.11%)
TPLP 7.51 Increased By ▲ 0.11 (1.49%)
TREET 14.14 Decreased By ▼ -0.10 (-0.7%)
TRG 50.88 Increased By ▲ 0.03 (0.06%)
UNITY 26.37 Decreased By ▼ -0.03 (-0.11%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,738 Decreased By -30.2 (-0.31%)
BR30 29,401 Increased By 1.3 (0%)
KSE100 91,704 Decreased By -234.1 (-0.25%)
KSE30 28,607 Decreased By -136.3 (-0.47%)

DUBAI: Most Gulf markets ended flat or slightly higher on Thursday, recovering from earlier losses after oil prices plunged on news the United States was weighing its largest-ever drawdown from its oil reserves to control rising prices.

The United States is considering releasing up to 180 million barrels of oil over several months from strategic reserves, four US sources said.

European stocks were set for their biggest quarterly drop since the start of 2020, as eastern Ukraine braced for fresh Russian attacks.

“The Dubai stock market stalled after a series of increases as investors move to secure their gains,” said Fadi Reyad, market analyst at CAPEX.com MENA.

Dubai’s main share index ended flat, as losses in real estate stocks were offset by gains in financial stocks. The index ended the week 3.4% higher, as investors have been flocking to the region after state utility Dubai Electricity and Water Authority (DEWA) opened for subscription last week.

The index has risen over 10% this quarter, while the Abu Dhabi index has jumped 17.2%. In Abu Dhabi, the index rose 1% on Thursday, after climbing in seven of the previous eight sessions. Emirates Telecommunications Group (Etisalat) boosted sentiment, having ended 2.7% higher, after Nokia said the companies would launch 5G private wireless networks.

Saudi Arabia’s benchmark index ended up 0.4%, with state-run Saudi Aramco gaining 3.4%. The index has risen 15.7% for the quarter.

Comments

Comments are closed.