Gulf stock markets closed Wednesday’s session in the red territory, as Saudi, Qatar, and Bahraini markets finished the session down.December 6, 2018
Gulf stock markets closed Wednesday’s session in the red territory, as Saudi, Qatar, and Bahraini markets finished the session down.
Bahraini shares closed today’s session in the red as the primary Bahraini index BAX fell by 0.28 percent or 3.649 points to settle down at 1,322.284 due to the losses in Telecom Services and Financials sectors.
Furthermore, Qatar equities closed the session down where QSI lost 0.12 percent or 12.86 points to end the session at 10,589.98, pressured by the losses in Financials, Telecom Services, and Basic Materials sectors. The index fell despite the significant gains in Healthcare sectors that rose by 3.48 percent.
In oil news, oil prices rose on today’s session before the meeting of the world’s biggest exporters who argue cutting output to help rising oil prices and curb excess supply.
Regarding Oil, The U.S. West Texas Intermediate Crude Oil futures were trading higher at 53.98 at 15:45 GMT.
Moreover, Brent Oil futures were up to trade at 62.78 USD per barrel at 15:45 GMT.
Saudi Stock Market:
Saudi Arabia stocks were lower on Wednesday’s trading session. Saudi’s primary index TASI lost 0.27 percent or 21.49 points to settle down at 7,883.63 due to the losses in all sectors except for Telecom Services that advanced by 0.66 percent.
Regarding stocks, the best performer of the session on the Tadawul All Share was Wataniya Insurance Co SJSC, which surged 8.64 percent to trade at 25.90 at the close, followed by Buruj Cooperative Insurance Co SJSC that rose by 5.82 percent to trade higher at 26.35 at the end.
Meanwhile, United International Transportation Co SJSC was the worst performer of the session followed by Saudi Company For Hardware SJSC, which fell by 4.11 percent and 3.88 percent to settle lower at 26.85 and 99.00 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 Energy, Financials, and Telecom Services sectors pressured the broader market. Abu Dhabi’s leading benchmark ADI declined 1.38 percent or 67.77 points to settle higher at 4,830.38.
Regarding individual stock, Waha Capital PJSC was the best performer on today’s trading session as it surged by 6.06 percent, followed by RAK Properties PJSC, which advanced by 2.20 percent.
Moreover, Dubai shares were trading lower as DFMGI tumbled by 1.63 percent or 43.72 points to settle down at 2,632.15 due to the losses in most of the sectors, especially Healthcare sectors that fell by 3.54 percent.
In the corporate space, Amlak Finance PJSC was the worst performer in today’s session as its stock dropped by 8.90 percent, followed by Shuaa Capital PSC that fell by 6.76 percent at the end of the session.
Egypt Stock Market:
Egyptian shares were lower on Wednesday’s session as EGX30 fell by 0.30 percent or 38.00 points to settle lower at 12,586.74 pressured by the losses in Consumer Cyclicals, Energy, and Consumer Non-Cyclicals sectors.
Talaat Mostafa Group Holding Co SAE was the best performer in the session as its stock gained around 3.28 percent to end the session at 9.45. On the flip side, Egyptian Resorts Co SAE, fell by 3.07 percent to end the session lower at 17.50.