AGL 38.16 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 134.19 Increased By ▲ 5.22 (4.05%)
BOP 8.85 Increased By ▲ 1.00 (12.74%)
CNERGY 4.69 Increased By ▲ 0.03 (0.64%)
DCL 8.67 Increased By ▲ 0.35 (4.21%)
DFML 39.78 Increased By ▲ 0.84 (2.16%)
DGKC 85.15 Increased By ▲ 3.21 (3.92%)
FCCL 34.90 Increased By ▲ 1.48 (4.43%)
FFBL 75.60 Decreased By ▼ -0.11 (-0.15%)
FFL 12.74 Decreased By ▼ -0.08 (-0.62%)
HUBC 109.45 Decreased By ▼ -0.91 (-0.82%)
HUMNL 14.10 Increased By ▲ 0.09 (0.64%)
KEL 5.40 Increased By ▲ 0.25 (4.85%)
KOSM 7.75 Increased By ▲ 0.08 (1.04%)
MLCF 41.37 Increased By ▲ 1.57 (3.94%)
NBP 69.70 Decreased By ▼ -2.62 (-3.62%)
OGDC 193.62 Increased By ▲ 5.33 (2.83%)
PAEL 26.21 Increased By ▲ 0.58 (2.26%)
PIBTL 7.42 Increased By ▲ 0.05 (0.68%)
PPL 163.85 Increased By ▲ 11.18 (7.32%)
PRL 26.36 Increased By ▲ 0.97 (3.82%)
PTC 19.47 Increased By ▲ 1.77 (10%)
SEARL 84.40 Increased By ▲ 1.98 (2.4%)
TELE 7.99 Increased By ▲ 0.40 (5.27%)
TOMCL 34.05 Increased By ▲ 1.48 (4.54%)
TPLP 8.72 Increased By ▲ 0.30 (3.56%)
TREET 17.18 Increased By ▲ 0.40 (2.38%)
TRG 61.00 Increased By ▲ 4.96 (8.85%)
UNITY 28.96 Increased By ▲ 0.18 (0.63%)
WTL 1.37 Increased By ▲ 0.02 (1.48%)
BR100 10,786 Increased By 127.6 (1.2%)
BR30 32,266 Increased By 934.6 (2.98%)
KSE100 100,083 Increased By 813.5 (0.82%)
KSE30 31,193 Increased By 160.9 (0.52%)

Major Gulf stock markets closed mixed on Monday, ahead of crucial US inflation data that could influence the Federal Reserve’s stance on interest rate hikes.

Oil prices - a key catalyst for the Gulf’s financial markets - slipped as investors focused on short-term demand concerns ahead of the inflation data.

Brent crude futures fell $0.4, or 0.51%, to $85.95 a barrel by 1136 GMT.

Saudi Arabia’s benchmark index advanced 1%, lifted by solid corporate earnings and reports of a strong pipeline of IPOs.

The chairman of Saudi CMA said on Sunday that 23 companies are waiting to go public on the Tadawul Exchange, subject to market conditions amid what he called a very healthy pipeline of listings.

Most Gulf bourses rise on higher oil prices; Egypt down

Luxury home builder Retal Urban Development gained 1.1%, while hospital operator Sulaiman Al Habib jumped 3.3%.

Riyad Bank surged 6.1% after the lender reported a 17% jump in full-year profit to 7.02 billion riyals ($1.87 billion).

Gains in heavyweight real estate and consumer sector stocks helped Dubai’s benchmark stock index extend gains to the ninth session in a row as the index settled 0.5% higher.

Among gainers, low-cost carrier Air Arabia jumped 3.5% ahead of reporting full-year earnings later in the day.

The Dubai stock market could come under pressure if traders move to secure their gains after last week’s increase, said Farah Mourad, senior market analyst at XTB MENA.

In Abu Dhabi, the benchmark stock index dropped 0.2% to snap a 10-session winning streak, weighed down by a 0.3% decrease in conglomerate International Holding Company. Investment firm Multiply Group tumbled 4.5%.

The Qatari stock index closed 0.5% lower, falling to a seven-month low. Petrochemical maker Industries Qatar declined 3.4% after it posted a 28% decrease in its fourth-quarter net profit on Friday.

Outside the Gulf, Egypt’s blue-chip index fell 0.4%, as digital payment firm Fawry For Banking Technology And Electronic Payment slipped 2.4%.

SAUDI ARABIA rose 1% to 10,520

ABU DHABI down 0.2% to 9,931

DUBAI leapt 0.5% at 3,470

QATAR edged down 0.5% to 10,391

EGYPT down 0.4% to 17,215

BAHRAIN slipped 0.2% to 1,935

OMAN lost 0.4% at 4,740

KUWAIT down 0.3% to 8,200

Comments

Comments are closed.