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May 16, 2021

Gulf stock markets closed mostly in the red on Wednesday’s trading session, with Saudi and Bahraini markets ending lower.


Gulf stock markets closed mostly in the red on Wednesday’s trading session, with Saudi and Bahraini markets ending lower while Qatar shares ended the session in the green.

Bahraini shares closed the today’s session in the red as the primary Bahraini index BAX lost 0.16 percent or 2.173 points to settle down at 1,340.51 pressured by the losses in Basic Materials and Financials sectors.

On the other hand, Qatar equities closed the session in the green where QSI gained 0.60 percent or 59.10 points to end the session up at 9,990.17 supported by the gains in Basic Materials, Energy and Industrials sectors.

Regarding Oil news, The U.S. West Texas Intermediate Crude Oil futures were trading higher at 70.93 at 20:41 GMT.

Moreover, Brent Oil futures were higher to trade at 80.04 USD per barrel at 20:41 GMT.


Saudi Stock Market:

Saudi Arabia stocks were lower on Wednesday’s trading session. Saudi’s primary index TASI lost 0.75 percent or 57.69 to settle down at 7,635.38 due to the losses in all sectors except for Telecom Services sector that gained around 0.33 percent.

Regarding stocks, the best performers of the session on the Tadawul All Share were Mediterranean and Gulf Cooperative Insurance and Reinsurance Co CJSC, which surged 5.26 percent to trade at 16.00 at the close, followed by Bonyan REIT Fund that rose by 3.75 percent to trade higher at 9.40.

Meanwhile, United International Transportation Co SJSC was the worst performer of the session followed by Gulf Union Cooperative Insurance Co SJSC, which fell by 6.41 percent and 6.21 percent to settle lower at 26.30 and 13.30 respectively.


United Arab Emirates Stock Market:

UAE shares closed today’s trading session in the red territory, as both Abu Dhabi and Dubai markets finished the session lower.

Abu Dhabi equities closed Wednesday’s session lower as the losses in Industrials, Financials and Telecom Services pressured the broader market. Abu Dhabi’s leading benchmark ADI lost 1.17 percent or 58.187 points to settle lower at 4,934.44.

Abu Dhabi National for Building Materials Co PJSC was the best performer on Wednesday’s trading session as it rose by 5.49 percent, followed by Dana Gas PJSC, which advanced by 2.59 percent.

Moreover, Dubai shares were trading lower as DFMGI dropped by 0.82 percent or 23.11 points to settle down at 2,809.87 pressured by losses Telecom Services, Utilities and Financials sectors.

In the corporate space, Takaful Emarat Insurance PJSC was the best performer on the DFM index, adding 4.00 percent, followed by Aramex PJSC which gained 2.16 percent to end the session in the green.


Egypt Stock Market:

Egyptian shares were lower on today’s session as EGX30 fell by 0.90 percent or 139.94 points to settle lower at 15,488.49  pressured by the losses in all sectors especially Consumer Non-Cyclicals and Healthcare sectors as they fell by 3.69 percent each.

Qatar National Bank Alahly SAE was the top performer in the session as its stock gained around 4.35 percent. On the flip side, Porto Group Holding SAE, which plunged significantly by 9.92 percent to end the session lower.

Ali Hwary

Ali Hwary

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