AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Abu Dhabi bourse settled higher on Friday after flagship oil firm Abu Dhabi National co, also known as Adnoc, announced an Initial Public Offering for its gas business, while Dubai index closed weaker.

Despite crude prices crashing more than 2%, the Abu Dhabi benchmark index advanced as the announcement of Adnoc Gas IPO bolstered risk-on mood.

Among gainers, state-controlled integrated utility firm Abu Dhabi National Energy Company (TAQA) surged 4.6% after the firm received 5% stake in Adnoc’s gas business ahead of its IPO.

ADNOC will sell 4% of its gas business in an IPO with ADX listing planned for March 13.

Oil prices declined on Friday on concerns of a higher rate hike by the U.S. Federal Reserve to cool inflation, with Brent crude down $2.28, or 2.68%, to $82.86 a barrel by 1124 GMT.

Two Fed officials said on Thursday the U.S. central bank likely should have lifted interest rates more than it did early this month.

Dubai’s main index dropped 0.3%, snapping two sessions of gains with most sectors trading lower.

State-run utility firm Dubai Electricity And Water Authority slipped 1.6% and top lender Emirates NBD bank dipped 1.1%.

Farah Mourad, a senior market analyst of XTB MENA, said Dubai was volatile and could remain exposed to potential price corrections while sentiment deteriorated.

=======================================
 ABU DHABI  up 0.1% to 9,886
 DUBAI      <.DFMGI down 0.3% to 3,458
=======================================

Comments

Comments are closed.