AGL 38.10 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 136.75 Increased By ▲ 2.56 (1.91%)
BOP 9.22 Increased By ▲ 0.37 (4.18%)
CNERGY 4.75 Increased By ▲ 0.06 (1.28%)
DCL 8.83 Increased By ▲ 0.16 (1.85%)
DFML 38.44 Decreased By ▼ -1.34 (-3.37%)
DGKC 85.40 Increased By ▲ 0.25 (0.29%)
FCCL 35.35 Increased By ▲ 0.45 (1.29%)
FFBL 76.99 Increased By ▲ 1.39 (1.84%)
FFL 12.70 Decreased By ▼ -0.04 (-0.31%)
HUBC 108.79 Decreased By ▼ -0.66 (-0.6%)
HUMNL 14.74 Increased By ▲ 0.64 (4.54%)
KEL 5.55 Increased By ▲ 0.15 (2.78%)
KOSM 8.05 Increased By ▲ 0.30 (3.87%)
MLCF 40.70 Decreased By ▼ -0.67 (-1.62%)
NBP 71.40 Increased By ▲ 1.70 (2.44%)
OGDC 194.75 Increased By ▲ 1.13 (0.58%)
PAEL 27.00 Increased By ▲ 0.79 (3.01%)
PIBTL 7.48 Increased By ▲ 0.06 (0.81%)
PPL 167.95 Increased By ▲ 4.10 (2.5%)
PRL 26.25 Decreased By ▼ -0.11 (-0.42%)
PTC 20.40 Increased By ▲ 0.93 (4.78%)
SEARL 92.84 Increased By ▲ 8.44 (10%)
TELE 7.89 Decreased By ▼ -0.10 (-1.25%)
TOMCL 35.32 Increased By ▲ 1.27 (3.73%)
TPLP 8.98 Increased By ▲ 0.26 (2.98%)
TREET 17.34 Increased By ▲ 0.16 (0.93%)
TRG 59.50 Decreased By ▼ -1.50 (-2.46%)
UNITY 31.00 Increased By ▲ 2.04 (7.04%)
WTL 1.39 Increased By ▲ 0.02 (1.46%)
BR100 10,895 Increased By 118.9 (1.1%)
BR30 32,660 Increased By 426.2 (1.32%)
KSE100 101,357 Increased By 1274.6 (1.27%)
KSE30 31,488 Increased By 295 (0.95%)

Saudi Arabia's stock index edged higher on Monday after Al Jouf Cement and Saudi Industrial Export Co announced an export deal with Jordan, but the region as a whole traded in small ranges, lacking fresh stimulus. The Saudi index closed 0.1 percent higher at 6,939 points after approaching and failing to break technical resistance around 7,000 points, which has held since mid-October.
Al Jouf rose 3.4 percent and Saudi Industrial Export Co, which has been trading at 13-year lows, jumped 5.1 percent. Saudi Industrial Export said it had signed a sale and marketing contract with Al Jouf to supply 72,000 tonnes of cement annually to Jordan. Saudi cement firms have been hit by a domestic construction industry slowdown, and the Jordan deal appears to mark one of the industry's first major export successes, after the Saudi government said in July that it was slashing cement export tariffs by 50 percent.
Exchange data released late on Sunday showed foreign investors were net sellers of Saudi Arabian equities for a third straight week in the wake of authorities' sweeping crackdown on corruption, but by a smaller margin than in the previous week, suggesting capital flows may soon stabilise.
Foreign investors sold 835 million riyals ($223 million) of Saudi stocks and bought 598 million riyals in the week through November 23, resulting in net selling of 237 million riyals. That compares with net selling of 309 million riyals in the week to November 16 and 1.08 billion riyals in the week to November 9, immediately after the purge was announced.
In Qatar, the main index also edged up 0.1 percent. Vodafone Qatar, the most heavily traded stock, surged 4.0 percent real estate firm Ezdan Holding, which was downgraded to junk status by credit rating agency Standard & Poor's earlier this month, climbed 4.7 percent. It has been recovering since late last week but is still down 47 percent year-to-date.
Dubai's index edged down 0.1 percent although Drake & Scull rose 2.3 percent after it announced its shares had been included in the MSCI GCC index. That index covers about 85 percent of the free float-adjusted market capitalisation in the Gulf Cooperation Council, and is less exclusive than MSCI's emerging markets index, which is used by many more funds. The index was held down by Emaar Properties, which fell 0.9 percent, and GFH Financial, which lost 1.7 percent.

Comments

Comments are closed.