AGL 37.90 Increased By ▲ 0.18 (0.48%)
AIRLINK 174.51 Increased By ▲ 5.86 (3.47%)
BOP 9.20 Increased By ▲ 0.11 (1.21%)
CNERGY 6.75 Decreased By ▼ -0.10 (-1.46%)
DCL 10.00 Decreased By ▼ -0.05 (-0.5%)
DFML 40.60 Decreased By ▼ -0.04 (-0.1%)
DGKC 93.40 Increased By ▲ 0.16 (0.17%)
FCCL 38.32 Increased By ▲ 0.40 (1.05%)
FFBL 80.01 Increased By ▲ 1.29 (1.64%)
FFL 13.78 Increased By ▲ 0.32 (2.38%)
HUBC 118.67 Increased By ▲ 4.57 (4.01%)
HUMNL 15.21 Increased By ▲ 0.26 (1.74%)
KEL 5.75 No Change ▼ 0.00 (0%)
KOSM 8.32 Increased By ▲ 0.09 (1.09%)
MLCF 46.09 Increased By ▲ 0.60 (1.32%)
NBP 74.45 Decreased By ▼ -0.47 (-0.63%)
OGDC 194.60 Increased By ▲ 1.67 (0.87%)
PAEL 32.35 Increased By ▲ 0.11 (0.34%)
PIBTL 8.28 Decreased By ▼ -0.29 (-3.38%)
PPL 170.30 Increased By ▲ 2.92 (1.74%)
PRL 33.98 Increased By ▲ 2.97 (9.58%)
PTC 22.40 Increased By ▲ 0.32 (1.45%)
SEARL 103.50 Increased By ▲ 2.67 (2.65%)
TELE 8.54 Increased By ▲ 0.09 (1.07%)
TOMCL 35.21 Increased By ▲ 0.37 (1.06%)
TPLP 11.50 Increased By ▲ 0.26 (2.31%)
TREET 19.18 Increased By ▲ 0.55 (2.95%)
TRG 61.25 Increased By ▲ 0.51 (0.84%)
UNITY 32.50 Increased By ▲ 0.52 (1.63%)
WTL 1.65 Increased By ▲ 0.04 (2.48%)
BR100 11,387 Increased By 97.6 (0.86%)
BR30 34,691 Increased By 551.5 (1.62%)
KSE100 105,756 Increased By 651.7 (0.62%)
KSE30 32,797 Increased By 242.5 (0.74%)

Most stock markets in the Gulf edged higher in choppy trade on Wednesday, ahead of U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for clues on the U.S. central bank’s policy outlook.

Traders await the U.S. ADP employment report due at 1315 GMT alongside Powell’s speech. Friday’s monthly U.S. payroll data and next week’s CPI data are also on investors’ radar.

Markets are now ascribing a 72% chance of a 25 basis point cut this month, with 80 bps of cuts expected by the end of next year.

The Fed’s decisions significantly impact the Gulf region’s monetary policy, as most currencies in the region are pegged to the U.S. dollar.

Saudi Arabia’s benchmark index gained 0.6%, led by a 10% rise in Dr Soliman Abdel Kader Fakeeh Hospital

Separately, the kingdom’s healthcare provider Almoosa Health plans to raise as much as 1.688 billion riyals ($449.15 million) from selling a 30% stake in the company via an initial public offering on the Riyadh bourse, it said on Wednesday.

Major Gulf equities track higher oil prices; Qatar flat

Dubai’s main share index, which resumed trade after a two-session break, rose 0.1%, helped by a 5% jump in Parkin after HSBC upgraded the stock to “buy” from “hold” and raised its price target to 5.5 dirhams from 3.3 dirhams.

Parkin, which oversees public parking operations in the Emirates, received notification from the Roads and Transport Authority last week approving a variable parking tariff policy in Dubai, effective March 2025.

The Abu Dhabi index - which also resumed trading following a two-day break - increased 0.3%.

In Qatar, the index, however, fell 0.5%, hit by a 0.9% fall in Qatar Islamic Bank.

Outside the Gulf, Egypt’s blue-chip index gained 0.7%, with Fawry for Banking Technology and Electronic Payment.

-----------------------------------------
 SAUDI ARABIA     rose 0.6% to 11,887
 ABU DHABI        up 0.3% to 9,265
 DUBAI            added 0.1% to 4,854
 QATAR            dropped 0.5% to 10,338
 EGYPT            up 0.7% to 30,833
 BAHRAIN          was up 0.1% to 2,036
 OMAN             added 0.1% to 4,578
 KUWAIT           gained 0.3% to 7,796
-----------------------------------------

Comments

200 characters