AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

ADNOC Distribution lifted the Abu Dhabi stock market on Sunday and Dubai continued its winning streak, while Saudi Arabia lagged behind. The Abu Dhabi index was up 0.4 percent, as ADNOC Distribution rose 8 percent to a one year high of 2.7 dirhams ($0.7351).
Last week, the company's shareholders approved an increase in the firm's dividend policy. The company also won shareholder approval to buy back up to 62.5 million shares, equivalent to 5 percent of its free float during a 12-month period, should it choose to do so.
Separately, Reuters reported that the firm was considering a secondary listing overseas. The Dubai index increased 0.2 percent, rising for its seventh straight session. Union Properties was by far the stock with the highest trading volume, gaining 0.8 percent.
Emirates NBD Bank - which Dubai-based Arqaam Capital on Sunday called its "top buy" - added 1.3 percent after saying last week that it will buy Denizbank. Heavyweight Emaar Properties was down 0.4 percent, while Shuaa Capital was up 4.3 percent. The firm is set to merge with Abu Dhabi Financial Group soon in a reverse takeover.
Dana Gas and Eshraq Properties were among the stocks registering the highest trading volumes in Abu Dhabi, and they went up 0.5 percent and 0.7 percent, respectively. Saudi Arabia's Tadawul index was down 0.6 percent, ending a previous 9-day gain streak pulled down by Al Rajhi Bank, which was down 1.1 percent.
"Being a Sunday, foreigners were absent (from the Saudi market) and we suspect local investors are booking some of the recent profits," said Vrajesh Bhandari, senior portfolio manager at Al Mal Capital in Dubai. Saudi Almarai was down 0.5 percent in thin trading volume, after what Arqaam capital called "uninspiring results" in a report on the company's first quarter.
Led by Ahli United Bank, which was up 2.5 percent, Bahrain's stock market added 1.5 percent. On Wednesday, the bank said due diligence for a merger with Kuwait Finance House was in progress. Egypt's stock market was down 0.7 percent on Sunday, weighed down mainly by Orascom Investment Holding, which lost 7.1 percent after reporting last week a drop in standalone net profit.

Copyright Reuters, 2019

Comments

Comments are closed.