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February 26, 2021

Gulf stock markets closed mixed on Wednesday’s trading session, with Saudi market advanced, while Qatar shares ended the session lower.

Oil

Gulf stock markets closed mixed on Wednesday’s trading session, with Saudi market advanced, while Qatar shares ended the session lower.

Bahraini market was closed today due Ashoura Holiday day.

Qatar equities closed the session in the red for the second day in a row, where QSI fell by 0.18 percent or 18.13 points to end the session down at 9,805.40 pressured by the losses in Healthcare, Telecom Services and Energy sectors.

Regarding Oil news, The U.S. West Texas Intermediate Crude Oil futures were trading higher at 70.63 at 16:20 GMT.

Meanwhile, Brent Oil futures were lower to trade at 79.12 USD per barrel at 16:20 GMT.

 

Saudi Stock Market:

Saudi Arabia stocks were higher on Wednesday’s trading session. Saudi’s primary index TASI gained 1.13 percent or 86.25 to settle up at 7,729.65. The market was supported by the gains in all sectors especially Energy sector that rose by 2.55 percent.

Regarding stocks, the best performers of the session on the Tadawul All Share were Wafrah for Industry and Development Co SJSC, which surged 9.97 percent to trade at 15.44 at the close, followed by Amana Cooperative Insurance Company SJSC that rose by 8.29 percent to trade higher at 16.20.

Meanwhile, Saudi Indian Company for Cooperative Insurance JSC and Red Sea International Co were the worst performers of the session, which fell by 3.11 percent and 2.52 percent respectively.

 

United Arab Emirates Stock Market:

UAE shares closed today’s trading session in mixed territories, as Abu Dhabi shares rose while Dubai markets finished the session lower.

Abu Dhabi equities closed Tuesday’s session higher as the gains in Consumer Cyclicals, Healthcare and Consumer Non-Cyclicals sectors boosted the broader market. Abu Dhabi’s leading benchmark ADI gained 0.16 percent or 7.666 points to settle higher at 4,884.06.

Invest Bank PSC was the best performer on today’s trading session as it rose significantly by 11.90 percent, followed by Ras Al Khaimah Ceramics PJSC, which advanced by 6.22 percent.

On the other hand, Dubai shares were trading lower as DFMGI dropped by 0.08 percent or 2.30 points to settle down at 2,740.68 pressured by losses in Telecom Services and Financials sectors.

In the corporate space, Takaful Emarat Insurance PJSC was the best performer on the DFM index, adding 3.43 percent, followed by Gulf Navigation Holding PJSC which gained 2.21 percent to end the session in the green.

 

Egypt Stock Market:

Egyptian shares were lower on Wednesday’s session as EGX30 fell by 3.79 percent or 555.35 points to settle lower at 14,098.56  pressured by the losses in all sectors but mainly Telecom Services which plunged by 9.22 percent.

EFG Hermes Holding SAE was the top performer in the session as its stock gained around 0.31 percent. On the flip side, Egyptian Iron and Steel Co SAE plunged by 9.94 percent to end the session lower.

Ali Hwary

Ali Hwary

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