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%)

Stock markets in the Gulf ended higher on Sunday, led by the Qatar index, after slowing US jobs growth in April raised hopes of early interest rate cuts by the US Federal Reserve.

The Labor Department’s employment report showed the US economy added fewer jobs than expected, while the unemployment rate ticked higher and wage growth unexpectedly cooled.

The report prompted investors to raise bets the Fed would implement its first rate reduction in September.

UAE markets track oil prices higher

Most Gulf currencies are pegged to the dollar, and any US monetary policy changes are usually followed by Saudi Arabia, the United Arab Emirates and Qatar.

The Qatari benchmark index bounced back after three straight sessions of losses and ended 0.8% higher with all sectors in the positive territory.

Qatar National Bank, the region’s largest lender, rose 1.2% and Industries Qatar gained 0.7%.

Saudi Arabia’s benchmark index was up for a second straight session and rose 0.2%, lifted by gains in finance, industry, consumer discretionary and energy sectors.

Al Rajhi Bank, the world’s largest Islamic lender, and Saudi National Bank, the kingdom’s biggest lender climbed 1.5% each.

Among other gainers, Thob Al Aseel advanced 3.5%, after the garments supplier reported a 44% rise in quarterly net profit.

Meanwhile, Saudi Arabia’s non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output.

SAUDI ARABIA up 0.2% to 12,373

KUWAIT added 0.2% to 7,667

QATAR rose 0.8% to 9,690

EGYPT Closed

BAHRAIN added 0.1% to 2,031

OMAN gained 0.7% to 4,805

Comments

Comments are closed.