AIRLINK 140.00 Increased By ▲ 12.73 (10%)
BOP 9.14 Increased By ▲ 0.46 (5.3%)
CNERGY 6.48 Increased By ▲ 0.76 (13.29%)
CPHL 64.36 Decreased By ▼ -2.74 (-4.08%)
FCCL 42.70 Increased By ▲ 2.84 (7.12%)
FFL 13.15 Increased By ▲ 0.94 (7.7%)
FLYNG 34.54 Increased By ▲ 3.14 (10%)
HUBC 126.25 Increased By ▲ 7.25 (6.09%)
HUMNL 11.30 Decreased By ▼ -0.14 (-1.22%)
KEL 4.04 Increased By ▲ 0.12 (3.06%)
KOSM 3.96 Increased By ▲ 0.02 (0.51%)
MLCF 65.00 Increased By ▲ 4.13 (6.78%)
OGDC 184.35 Increased By ▲ 4.96 (2.76%)
PACE 4.49 Increased By ▲ 0.50 (12.53%)
PAEL 40.69 Increased By ▲ 3.68 (9.94%)
PIAHCLA 12.25 Decreased By ▼ -1.33 (-9.79%)
PIBTL 7.61 Increased By ▲ 0.51 (7.18%)
POWER 14.00 Increased By ▲ 0.59 (4.4%)
PPL 137.90 Increased By ▲ 5.99 (4.54%)
PRL 24.59 Increased By ▲ 0.33 (1.36%)
PTC 17.83 Increased By ▲ 0.40 (2.29%)
SEARL 69.00 Increased By ▲ 2.35 (3.53%)
SSGC 27.66 Decreased By ▼ -1.56 (-5.34%)
SYM 12.70 Increased By ▲ 0.53 (4.35%)
TELE 5.95 Increased By ▲ 0.35 (6.25%)
TPLP 7.15 Increased By ▲ 0.40 (5.93%)
TRG 57.03 Increased By ▲ 3.90 (7.34%)
WAVESAPP 7.94 Increased By ▲ 0.20 (2.58%)
WTL 1.16 Increased By ▲ 0.06 (5.45%)
YOUW 3.24 Increased By ▲ 0.15 (4.85%)
AIRLINK 140.00 Increased By ▲ 12.73 (10%)
BOP 9.14 Increased By ▲ 0.46 (5.3%)
CNERGY 6.48 Increased By ▲ 0.76 (13.29%)
CPHL 64.36 Decreased By ▼ -2.74 (-4.08%)
FCCL 42.70 Increased By ▲ 2.84 (7.12%)
FFL 13.15 Increased By ▲ 0.94 (7.7%)
FLYNG 34.54 Increased By ▲ 3.14 (10%)
HUBC 126.25 Increased By ▲ 7.25 (6.09%)
HUMNL 11.30 Decreased By ▼ -0.14 (-1.22%)
KEL 4.04 Increased By ▲ 0.12 (3.06%)
KOSM 3.96 Increased By ▲ 0.02 (0.51%)
MLCF 65.00 Increased By ▲ 4.13 (6.78%)
OGDC 184.35 Increased By ▲ 4.96 (2.76%)
PACE 4.49 Increased By ▲ 0.50 (12.53%)
PAEL 40.69 Increased By ▲ 3.68 (9.94%)
PIAHCLA 12.25 Decreased By ▼ -1.33 (-9.79%)
PIBTL 7.61 Increased By ▲ 0.51 (7.18%)
POWER 14.00 Increased By ▲ 0.59 (4.4%)
PPL 137.90 Increased By ▲ 5.99 (4.54%)
PRL 24.59 Increased By ▲ 0.33 (1.36%)
PTC 17.83 Increased By ▲ 0.40 (2.29%)
SEARL 69.00 Increased By ▲ 2.35 (3.53%)
SSGC 27.66 Decreased By ▼ -1.56 (-5.34%)
SYM 12.70 Increased By ▲ 0.53 (4.35%)
TELE 5.95 Increased By ▲ 0.35 (6.25%)
TPLP 7.15 Increased By ▲ 0.40 (5.93%)
TRG 57.03 Increased By ▲ 3.90 (7.34%)
WAVESAPP 7.94 Increased By ▲ 0.20 (2.58%)
WTL 1.16 Increased By ▲ 0.06 (5.45%)
YOUW 3.24 Increased By ▲ 0.15 (4.85%)
BR100 11,241 Increased By 384.8 (3.54%)
BR30 32,134 Increased By 1400.2 (4.56%)
KSE100 107,175 Increased By 3647.8 (3.52%)
KSE30 32,648 Increased By 1170 (3.72%)

DUBAI: Stock markets in the Gulf tracked global shares to end higher on Wednesday, after the US producer price data pointed to inflation cooling, which supported speculation that the Federal Reserve could cut rates soon.

Markets are pricing in a roughly 51.5% chance of a 50 basis point rate cut, and a 48.5% chance of a 25 basis point cut, at the Fed’s next meeting in September.

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the Fed’s decisions, as most regional currencies are pegged to the US dollar.

Dubai’s benchmark stock index was up 0.7%, lifted by gains in most sectors with Emirates NBD, the emirate’s largest lender, rising 2.1% and toll operator Salik Company advancing 1.5%.

Salik said on Tuesday it will distribute all of its first half-year net profit after tax as dividend, equaling 7.263 fils per share.

The Abu Dhabi benchmark index bounced back after two straight sessions of loss, rising 0.6%. The conglomerate International Holding gained 1% and Abu Dhabi National Energy was up 1.5%. The state-owned energy firm TAQA reported a 17.7% rise in quarterly net profit.

Saudi Arabia’s benchmark stock index was up for a second consecutive session, increasing 0.5%, with most of its constituents posting gains.

Comments

Comments are closed.