AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 127.30 Increased By ▲ 0.26 (0.2%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.65 Increased By ▲ 0.21 (0.51%)
DGKC 87.45 Increased By ▲ 0.60 (0.69%)
FCCL 32.55 Increased By ▲ 0.27 (0.84%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.51 Decreased By ▼ -0.06 (-0.05%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.06 Increased By ▲ 0.01 (0.2%)
KOSM 7.63 Increased By ▲ 0.17 (2.28%)
MLCF 41.58 Increased By ▲ 0.20 (0.48%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 192.84 Increased By ▲ 2.74 (1.44%)
PAEL 28.28 Increased By ▲ 0.45 (1.62%)
PIBTL 7.76 Decreased By ▼ -0.07 (-0.89%)
PPL 151.30 Increased By ▲ 1.24 (0.83%)
PRL 26.10 Decreased By ▼ -0.78 (-2.9%)
PTC 16.12 Increased By ▲ 0.05 (0.31%)
SEARL 83.25 Decreased By ▼ -2.75 (-3.2%)
TELE 7.80 Increased By ▲ 0.09 (1.17%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.09 Decreased By ▼ -0.03 (-0.37%)
TREET 16.10 Decreased By ▼ -0.31 (-1.89%)
TRG 53.22 Decreased By ▼ -0.07 (-0.13%)
UNITY 26.37 Increased By ▲ 0.21 (0.8%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,967 Increased By 83.6 (0.85%)
BR30 31,001 Increased By 400.7 (1.31%)
KSE100 94,144 Increased By 788.6 (0.84%)
KSE30 29,170 Increased By 238.9 (0.83%)

Saudi Arabia's stock market rose sharply on Thursday, outperforming the region on rising oil prices and easing coronavirus-related restrictions. Benchmark Brent crude was up 11.49%, or $2.59 at $25.13 a barrel at 1157 GMT, buoyed by signs that the US crude glut is easing and fuel demand battered by COVID-19 restrictions is starting to pick up.

Saudi Arabia's benchmark index advanced 1.8%, with oil giant Saudi Aramco gaining 2.3%, whereas petrochemical firm Saudi Basic Industries climbed 4.3%.

Amongst others, food producer Halwani Brothers surged 10% to become the top gainer on the index after it reported a sharp rise in first-quarter profit.

on Wednesday, Saudis began tentatively returning to shopping malls and open-air markets after authorities relaxed restrictions imposed to curb the spread of the novel coronavirus.

The Abu Dhabi index reversed earlier losses to close 0.2% up, helped by a 1.6% rise in top lender First Abu Dhabi Bank. However, the gains in Abu Dhabi's index were capped by losses at telecoms firm Etisalat and energy firm Dana Gas, which were down 1.2% and 4.9%, respectively. The duo traded ex-dividend.

In Dubai, the index rose 1.1%, driven by a 4.9% jump in Emirates NBD Bank and a 2.2% gain in Dubai Islamic Bank (DIB).

Qatar's index ended 0.7% higher as petrochemical firm Industries Qatar leapt 5.3%, while Barwa Real Estate added 2.8% ahead of its first-quarter earnings announcement. Outside the Gulf, Egypt's blue-chip index was up 0.1%, with Commercial International Bank adding 0.7%.

Copyright Reuters, 2020

Comments

Comments are closed.