AGL 38.16 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 134.00 Increased By ▲ 5.03 (3.9%)
BOP 8.85 Increased By ▲ 1.00 (12.74%)
CNERGY 4.69 Increased By ▲ 0.03 (0.64%)
DCL 8.65 Increased By ▲ 0.33 (3.97%)
DFML 40.00 Increased By ▲ 1.06 (2.72%)
DGKC 85.00 Increased By ▲ 3.06 (3.73%)
FCCL 34.74 Increased By ▲ 1.32 (3.95%)
FFBL 75.89 Increased By ▲ 0.18 (0.24%)
FFL 12.67 Decreased By ▼ -0.15 (-1.17%)
HUBC 109.80 Decreased By ▼ -0.56 (-0.51%)
HUMNL 14.10 Increased By ▲ 0.09 (0.64%)
KEL 5.38 Increased By ▲ 0.23 (4.47%)
KOSM 7.74 Increased By ▲ 0.07 (0.91%)
MLCF 41.18 Increased By ▲ 1.38 (3.47%)
NBP 69.53 Decreased By ▼ -2.79 (-3.86%)
OGDC 194.30 Increased By ▲ 6.01 (3.19%)
PAEL 26.10 Increased By ▲ 0.47 (1.83%)
PIBTL 7.45 Increased By ▲ 0.08 (1.09%)
PPL 164.75 Increased By ▲ 12.08 (7.91%)
PRL 26.27 Increased By ▲ 0.88 (3.47%)
PTC 19.47 Increased By ▲ 1.77 (10%)
SEARL 84.40 Increased By ▲ 1.98 (2.4%)
TELE 8.01 Increased By ▲ 0.42 (5.53%)
TOMCL 34.06 Increased By ▲ 1.49 (4.57%)
TPLP 8.67 Increased By ▲ 0.25 (2.97%)
TREET 17.15 Increased By ▲ 0.37 (2.21%)
TRG 60.95 Increased By ▲ 4.91 (8.76%)
UNITY 28.95 Increased By ▲ 0.17 (0.59%)
WTL 1.37 Increased By ▲ 0.02 (1.48%)
BR100 10,787 Increased By 128.3 (1.2%)
BR30 32,246 Increased By 914.4 (2.92%)
KSE100 100,245 Increased By 975.4 (0.98%)
KSE30 31,238 Increased By 205.6 (0.66%)

Middle Eastern stock markets edged up in quiet trade on Sunday, with construction and building materials stocks boosting Saudi Arabia ahead of the release of its 2018 state budget this week. Saudi Arabia's index added 0.3 percent as builder Khodari surged 7.6 percent in its heaviest trade since January. Najran Cement gained 4.5 percent and in addition to Khodari, the 10 best-performing stocks featured six cement producers.
The state budget, to be announced on Tuesday, is expected to be modestly expansionary and include a rise in infrastructure spending after two years of austerity. Real estate firm Dar Al Arkan, the most heavily traded stock, fell back 3.6 percent after soaring in the last several weeks.
The Dubai index edged up 0.3 percent as construction firm Drake & Scull, which operates in Saudi Arabia, was the most heavily traded stock, rising 1.4 percent. The Kuwait stock index added 0.4 percent after surging 1.5 percent on Thursday. Kuwait Finance House climbed 0.7 percent.
Other Gulf Arab central banks, whose currencies are pegged to the US dollar, raised interest rates in the wake of the US Federal Reserve's hike last Wednesday. But Kuwait, citing a desire to boost economic growth, did not tighten monetary policy; it manages its dinar against a dollar-dominated basket, which gives it more flexibility in policy. In Egypt, the index climbed 0.3 percent as Egypt Gas Co, which handles natural gas engineering and maintenance work, soared 10 percent.
The company is expected to benefit from work related to Egypt's giant Zohr gas field, where pilot production of gas started this month. At the end of last week Egypt Gas forecast 2018 revenues of 2.61 billion Egyptian pounds ($146 million) and net profit of 24.6 million pounds, compared to revenue of 1.10 billion pounds and a net loss of 57 million pounds in the first nine months of this year. Markets in Qatar and Bahrain were closed for national holidays.
HIGHLIGHTS SAUDI ARABIA
-- The index added 0.3 percent to 7,093 points.
DUBAI
-- The index rose 0.3 percent to 3,366 points.
ABU DHABI
-- The index gained 0.2 percent to 4,349 points.
EGYPT
-- The index rose 0.3 percent to 14,717 points.
KUWAIT
-- The index climbed 0.4 percent to 6,356 points.
OMAN
-- The index gained 0.3 percent to 5,076 points.

Comments

Comments are closed.