AIRLINK 188.50 Decreased By ▼ -1.02 (-0.54%)
BOP 12.67 Decreased By ▼ -0.10 (-0.78%)
CNERGY 7.26 Increased By ▲ 0.10 (1.4%)
FCCL 41.65 Decreased By ▼ -0.47 (-1.12%)
FFL 15.48 Decreased By ▼ -0.06 (-0.39%)
FLYNG 25.00 Decreased By ▼ -0.19 (-0.75%)
HUBC 133.00 Increased By ▲ 2.91 (2.24%)
HUMNL 14.33 Increased By ▲ 0.01 (0.07%)
KEL 4.77 Increased By ▲ 0.10 (2.14%)
KOSM 6.34 Decreased By ▼ -0.17 (-2.61%)
MLCF 47.80 Increased By ▲ 0.86 (1.83%)
OGDC 209.50 Increased By ▲ 6.75 (3.33%)
PACE 6.40 Decreased By ▼ -0.04 (-0.62%)
PAEL 42.04 Increased By ▲ 0.90 (2.19%)
PIAHCLA 16.90 Decreased By ▼ -0.13 (-0.76%)
PIBTL 8.83 Increased By ▲ 0.12 (1.38%)
POWER 10.70 No Change ▼ 0.00 (0%)
PPL 176.50 Increased By ▲ 4.29 (2.49%)
PRL 35.09 Increased By ▲ 0.32 (0.92%)
PTC 24.60 Decreased By ▼ -0.25 (-1.01%)
SEARL 96.20 Decreased By ▼ -0.52 (-0.54%)
SILK 1.11 Increased By ▲ 0.01 (0.91%)
SSGC 31.79 Increased By ▲ 1.21 (3.96%)
SYM 17.70 Decreased By ▼ -0.19 (-1.06%)
TELE 8.32 Decreased By ▼ -0.08 (-0.95%)
TPLP 11.81 Decreased By ▼ -0.08 (-0.67%)
TRG 63.16 Decreased By ▼ -0.19 (-0.3%)
WAVESAPP 11.65 Increased By ▲ 0.02 (0.17%)
WTL 1.48 Decreased By ▼ -0.02 (-1.33%)
YOUW 3.99 Decreased By ▼ -0.06 (-1.48%)
AIRLINK 188.50 Decreased By ▼ -1.02 (-0.54%)
BOP 12.67 Decreased By ▼ -0.10 (-0.78%)
CNERGY 7.26 Increased By ▲ 0.10 (1.4%)
FCCL 41.65 Decreased By ▼ -0.47 (-1.12%)
FFL 15.48 Decreased By ▼ -0.06 (-0.39%)
FLYNG 25.00 Decreased By ▼ -0.19 (-0.75%)
HUBC 133.00 Increased By ▲ 2.91 (2.24%)
HUMNL 14.33 Increased By ▲ 0.01 (0.07%)
KEL 4.77 Increased By ▲ 0.10 (2.14%)
KOSM 6.34 Decreased By ▼ -0.17 (-2.61%)
MLCF 47.80 Increased By ▲ 0.86 (1.83%)
OGDC 209.50 Increased By ▲ 6.75 (3.33%)
PACE 6.40 Decreased By ▼ -0.04 (-0.62%)
PAEL 42.04 Increased By ▲ 0.90 (2.19%)
PIAHCLA 16.90 Decreased By ▼ -0.13 (-0.76%)
PIBTL 8.83 Increased By ▲ 0.12 (1.38%)
POWER 10.70 No Change ▼ 0.00 (0%)
PPL 176.50 Increased By ▲ 4.29 (2.49%)
PRL 35.09 Increased By ▲ 0.32 (0.92%)
PTC 24.60 Decreased By ▼ -0.25 (-1.01%)
SEARL 96.20 Decreased By ▼ -0.52 (-0.54%)
SILK 1.11 Increased By ▲ 0.01 (0.91%)
SSGC 31.79 Increased By ▲ 1.21 (3.96%)
SYM 17.70 Decreased By ▼ -0.19 (-1.06%)
TELE 8.32 Decreased By ▼ -0.08 (-0.95%)
TPLP 11.81 Decreased By ▼ -0.08 (-0.67%)
TRG 63.16 Decreased By ▼ -0.19 (-0.3%)
WAVESAPP 11.65 Increased By ▲ 0.02 (0.17%)
WTL 1.48 Decreased By ▼ -0.02 (-1.33%)
YOUW 3.99 Decreased By ▼ -0.06 (-1.48%)
BR100 11,946 Increased By 81.3 (0.69%)
BR30 35,749 Increased By 428.4 (1.21%)
KSE100 113,649 Increased By 847.6 (0.75%)
KSE30 35,419 Increased By 382.6 (1.09%)

Stock markets in the Gulf ended mixed on Monday as investors remained cautious amid volatile oil prices and hopes for more economic stimulus from China, with Saudi and Dubai ending lower and Qatar and Abu Dhabi closing higher.

Crude prices - a key catalyst for the Gulf’s financial markets - fell with Brent crude down 0.2%, to $76.44 a barrel by 0944 GMT.

Saudi Arabia’s benchmark index slumped 0.8%, dragged down by losses in all sectors with the world’s largest Islamic bank by assets Al Rajhi Bank dropping 1.4% and oil major Saudi Aramco shedding 0.6%.

Among the losers, Dr Sulaiman Al-Habib Medical Services and Mouwasat Medical lost 1.5% and 7% respectively.

“GCC stock markets were mostly under pressure with energy volatility and price corrections affecting expectations”, said Farah Mourad, Senior Market Analyst of XTB MENA.

“Traders awaiting details about an economic stimulus for the Chinese economy”.

The world’s top crude importer China is widely expected to cut key lending benchmarks on Tuesday to boost its economic growth, which has seen a rocky post-pandemic recovery.

Most Gulf bourses fall as hawkish Fed hurts mood

Dubai’s benchmark index snapped its two-week winning streak and ended 0.1% lower. The index was weighed down by losses in utilities and financial sectors with Emaar Properties falling 0.9% and Dubai Electricity and Water Authority dropping 1.1%.

In Qatar, the benchmark index rose 0.2%, recouping its losses across two consecutive sessions, with most sectors trading in the green.

The index was supported by a 4.9% surge in Ooredoo QPSC and 1.8% rise in Qatar Navigation.

In Abu Dhabi, the index continued its gains for a second consecutive session, trading 0.1% higher. The index was helped by a 3.9% gain in Abu Dhabi National Energy Company (TAQA) and a 2.3% rise in Burjeel.

The United Arab Emirates’ biggest lender, First Abu Dhabi Bank, gained 0.5%.

Outside the Gulf, Egypt’s blue-chip index slipped 0.2%, ending four-session gains with financial and communication sectors trading in the red.

Commercial International Bank and EFG Hermes slipped 1.1% and 2.1 respectively. Telecom Egypt lost 1.7%.

======================================
 SAUDI ARABIA     lost 0.8% to 11,422
 KUWAIT           ended flat at 7,823
 QATAR            rose 0.2% at 10,282
 EGYPT            lost 0.2% to 17,989
 BAHRAIN          ended flat at 1,958
 OMAN             lost 0.1% to 4,680
 ABU DHABI        added 0.1% to 9,453
 DUBAI            lost 0.1% at 3,787
======================================

Comments

Comments are closed.