AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

DUBAI: Dubai and Qatar indexes edged up on Wednesday, in tandem with global markets, as investors digested a mixed inflation picture, while Saudi Arabia eased after rallying for seven sessions.

Global shares were little changed, while supply concerns amid Russia’s ongoing invasion of Ukraine helped push oil prices higher.

Data on Wednesday showed no let-up for Britain after inflation hit a 30-year high of 7%, although this came a day after a lower-than-expected US print had given some traders cause to hope policy would be tightened more slowly.

Saudi Arabia’s benchmark index fell 0.7% as financial stocks dragged. The index had risen more than 4% over the past seven sessions.

“The increases have prompted investors to move to secure their gains. However, the market remains on a strong course and could record new increases in the coming days,” said Daniel Takieddine, chief executive officer at MENA BDSwiss.

Alaseel and Arab Bank fell 1.6% and 0.3%, respectively, after the stocks began trading ex-dividend.

Dubai’s main share index closed up 0.3%, with shares of Dewa Electricity and Water Authority falling 2.1% on their second day on the stock exchange.

The stock’s stellar debut valued it at 149 billion dirhams ($40.57 billion) on Tuesday and is expected to heat up Dubai’s IPO pipeline.

The Abu Dhabi index was flat.

The Qatari index rose 0.5% and has risen in seven of the past eight sessions.

Outside the Gulf, Egypt’s blue-chip index fell 0.5%, with index heavyweight Commercial International Egypt Bank weighing on sentiment with its 1.1% drop.

Comments

Comments are closed.