AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)
Markets Print 2020-05-21

Egyptian stocks plummet

Egyptian shares fell sharply on Wednesday amid the tightening of coronavirus restrictions, but major Gulf equity markets were higher, with Abu Dhabi's index rising the most on the back of First Abu Dhabi Bank.
Published 21 May, 2020 12:09am

Egyptian shares fell sharply on Wednesday amid the tightening of coronavirus restrictions, but major Gulf equity markets were higher, with Abu Dhabi's index rising the most on the back of First Abu Dhabi Bank.

Egypt, which on Tuesday registered 720 new coronavirus cases bringing the total infections to 13,484 cases, extended a halt to all international passenger flights to curb the spread of the coronavirus.

The North African country will tighten restrictions during the six-day Eid holiday from May 24.

Egyptian blue-chip index dropped 1.5%, with most of its constituents ending in the red.

Market heavyweight Commercial International Bank Egypt was down 1%, while tobacco firm Eastern Company declined 2.5%.

Abu Dhabi's index rose 1.4% as the United Arab Emirate's largest lender First Abu Dhabi Bank surged 2.4%.

The stock rose as much as 1.4% on Tuesday before settling flat, after the bank said it would not acquire Egyptian business of Lebanon's Bank Audi . Meanwhile, Emirates Telecommunications Group shed 0.5% after it said that its chief executive officer had resigned.

Saudi Arabia's stock index edged up 0.1%, supported by a 3.8% rise in Savola Group.

National Commercial Bank rose 1.1% for its sixth consecutive daily gain. The country's largest lender on Sunday reported a 2.1% rise in first quarter profit.

Gains were capped by the oil giant Saudi Aramco, which fell 1.1% to 33 riyals, snapping a sixth-session winning streak.

Qatar's stock index was up 0.6%, with lenders Masraf Al Rayan and Qatar Islamic Bank advancing 2.2% and 0.9%, respectively.

Dubai's index ended up 0.1% as Emaar Properties was up 0.8% and Emirates NBD Bank added 0.5%.

Copyright Reuters, 2020

Comments

Comments are closed.