AGL 40.15 Increased By ▲ 1.37 (3.53%)
AIRLINK 199.80 Increased By ▲ 5.51 (2.84%)
BOP 10.32 Decreased By ▼ -0.52 (-4.8%)
CNERGY 6.83 Decreased By ▼ -0.04 (-0.58%)
DCL 10.50 Increased By ▲ 0.31 (3.04%)
DFML 44.09 Increased By ▲ 0.96 (2.23%)
DGKC 103.10 Increased By ▲ 6.49 (6.72%)
FCCL 39.43 Increased By ▲ 1.36 (3.57%)
FFBL 81.49 Increased By ▲ 0.06 (0.07%)
FFL 14.20 Increased By ▲ 0.17 (1.21%)
HUBC 120.80 Increased By ▲ 1.82 (1.53%)
HUMNL 14.99 Increased By ▲ 0.22 (1.49%)
KEL 6.09 Increased By ▲ 0.35 (6.1%)
KOSM 8.34 Decreased By ▼ -0.15 (-1.77%)
MLCF 49.20 Increased By ▲ 2.66 (5.72%)
NBP 74.50 Decreased By ▼ -2.73 (-3.53%)
OGDC 197.24 Increased By ▲ 2.46 (1.26%)
PAEL 35.75 Increased By ▲ 1.01 (2.91%)
PIBTL 8.54 Increased By ▲ 0.16 (1.91%)
PPL 176.30 Increased By ▲ 1.73 (0.99%)
PRL 33.05 Decreased By ▼ -0.12 (-0.36%)
PTC 25.99 Increased By ▲ 1.42 (5.78%)
SEARL 118.70 Increased By ▲ 8.66 (7.87%)
TELE 9.90 Increased By ▲ 1.00 (11.24%)
TOMCL 35.44 Increased By ▲ 0.61 (1.75%)
TPLP 12.80 Increased By ▲ 1.11 (9.5%)
TREET 18.89 Increased By ▲ 0.33 (1.78%)
TRG 60.85 Increased By ▲ 0.79 (1.32%)
UNITY 39.50 Increased By ▲ 3.01 (8.25%)
WTL 1.82 Increased By ▲ 0.07 (4%)
BR100 11,724 Increased By 23.2 (0.2%)
BR30 36,138 Increased By 726.8 (2.05%)
KSE100 110,074 Increased By 1020.3 (0.94%)
KSE30 34,137 Increased By 287.9 (0.85%)

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