MENA equities closed Tuesday’s session on mixed notes as oil prices rose slightly .

MENA equities closed Tuesday’s session on mixed notes as oil prices rose slightly .

August 15, 2018 Off By Yhumi Tsun

MENA equities closed Tuesday’s session on mixed notes as oil prices rose slightly .

Bahraini shares were trading lower on Tuesday as the primary Bahraini index BAX fell 0.37 percent or 4.96 points to end the session in red at 1,341.12 pressured by losses in the Telecommunications Services sector.

On the other hand, Qatari stocks advanced on Tuesday, where QSI rose by 0.86 percent or 81.96 points to close higher at 9,638.6 as gains in the Utilities, financials and Industrials sectors pushed the index higher.

Masraf Al Rayan was the biggest gainer on the index as its share added 2.11 percent followed by Commercial Bank which added 1.66 percent.

On the flip side, Al Meera Consumer Goods was the biggest loser on the index after its share dropped by 1.76 percent followed by Vodafone Qatar which fell by 0.56 percent.

In oil space, Oil prices rose slightly on Tuesday Worries Over Reduced Supply Offset Concerns About Lower Demand. WTI Oil ended Monday session lower at 67.39 but rose today to trade at 67.9 14:00 GMT. Meanwhile, Brent finished the session $72.82 a barrel and was trading at $73.36 a barrel at 14:00 GMT.

Saudi Stock Market:

Saudi stocks closed in the green ending four consecutive sessions in red, TASI notched higher by 0.26 percent or 20.39 points to end the session higher at 7.893.18 supported by gains in most of the sectors especially Consumer Cyclicals, Healthcare and Energy sectors.

Regarding individual stocks, Bonyan REIT Fund was the top performer adding 8.9  percent followed by Saudi Research and Marketing Group as its share advanced by 4.86 percent.

On the other hand, Saudi Indian Company for Cooperative Insurance \was the worst performer after its share declined by 6.65 percent


United Arab Emirates Stock Market:

UAE shares closed the session in mixed territories. Abu Dhabi shares closed the session higher as ADI rose by 0.61  percent or 29.32 points to close the session in the green at 4,830.22 supported by the gains in Basic Materials, and financials sectors.

International Holding Company was the top performer as its share added 12.5 percent followed by Arkan Building Materials, which gained 9.5 percent.

Meanwhile, Agthia Group and Sharjah Cement and Industrial Development Company were the biggest losers after both fell by 5.68 and  5.15percent respectively.

On the other hand, Dubai shares closed the session down, where DFMGI fell by 0.22  percent or 6.25 points to end the session at 2,840.89 pressured by the losses in Utilities and Financials sectors.

Gulf General Investment was the biggest gainer after its stock advanced by 5.51  percent, on the other hand, National Central Cooling was the biggest loser dropping by 3.33 percent.


Egypt Stock Market:

Egyptian stocks rose on Tuesday’s session where EGX30 fell 1.06 percent or 164.71 points to end the session lower at 15,356.81 as the losses in Consumer Cyclicals, and Non-Cyclicals pushed the index lower.

Ezz Steel was the session’s worst performer as its stock dropped by 5 percent, followed by Talaat Mostafa Group that declined by 4.72  percent.