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May 16, 2021

Gulf stock markets closed mixed on Tuesday’s trading session, with Saudi market advanced.


Gulf stock markets closed mixed on Tuesday’s trading session, with Saudi market advanced, while UAE and Qatar shares ended the session in the negative territory.

Bahraini shares closed today’s session in the green as the primary Bahraini index BAX gained 0.08 percent or 1.083 points to settle up at 1,340.061 boosted by the gains in Consumer Cyclicals and Telecom Services sectors.

On the other hand, Qatar equities closed the session in the red where QSI fell by 0.09 percent or 9.15 points to end the session down at 9,832.53 pressured by the losses in Industrials, Basic Materials and Healthcare sectors.

Regarding Oil news, The U.S. West Texas Intermediate Crude Oil futures were trading lower at 69.77 at 16:00 GMT.

Meanwhile, Brent Oil futures were higher to trade at 79.00 USD per barrel at 16:00 GMT.


Saudi Stock Market:

Saudi Arabia stocks were higher on Tuesday’s trading session. Saudi’s primary index TASI gained 0.44 percent or 33.75 to settle up at 7,643.40 reaching its highest point since the third of June. The market was supported by the gains in Financials, Consumer Cyclicals and basic Materials sectors.

Regarding stocks, the best performers of the session on the Tadawul All Share were Al Tayyar Travel Group Holding Company SJSC, which surged 7.38 percent to trade at 23.00 at the close, followed by Saudi Company for Hardware SJSCthat rose by 4.57 percent to trade higher at 71.00.

Meanwhile, Al Alamiya for Cooperative Insurance Co SJSC and Gulf Cooperative Insurance and Reinsurance Co CJSC was the worst performer of the session followed by Amana Cooperative Insurance Company SJSC, which fell by 4.89 percent and 4.09 percent and 2.86respectively.


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 Tuesday’s session lower as the losses in Industrial, Basic Materials and Consumer Cyclicals sectors pressured the broader market. Abu Dhabi’s leading benchmark ADI lost 0.13 percent or 6.465 points to settle lower at 5,876.39.

Gulf Pharmaceutical Industries PSC was the best performer on today’s trading session as it rose by 7.50 percent, followed by International Holding Company PJSC, which advanced by 3.51 percent.

Moreover, Dubai shares were trading lower as DFMGI dropped by 0.33 percent or 9.15 points to settle down at 2,742.98 pressured by losses in, Utilities, Industrials and Healthcare sectors.

In the corporate space, Deyaar Development PJSC was the best performer on the DFM index, adding 4.24 percent, followed by Takaful Emarat Insurance PJSC which gained 1.74 percent to end the session in the green.


Egypt Stock Market:

Egyptian shares were higher on Tuesday’s session as EGX30 added by 0.02 percent or 2.94 points to settle higher at 14,653.91  supported by the gains in Consumer Non-Cyclicals sector.

Pioneers Holding Company for Eastern Company SAE was the top performer in the session as its stock gained around 3.28 percent. On the flip side, Heliopolis Co for Housing and Development SAEplunged by 8.18 percent to end the session lower.

Ali Hwary

Ali Hwary

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