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April 16, 2021

MENA stock markets ended today’s trading session in green territories with the exception of Qatar and Dubai

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MENA stock markets ended today’s trading session in green territories with the exception of Qatar and Dubai in the UAE.

Bahrain’s stocks were trading higher in today’s session as the Bahraini All Shares Index added 0.53 percent or 6.73  points to end the trading session at 1,287.90 supported by gains in the Basic Materials and Industrials sectors as both rose by 0.81 percent.

On the other hand, Qatar’s stocks traded lower today for the fourth consecutive falling 0.46 percent to close the trading session in the red at 9,160.97 pressured by losses in the Energy  Services and Telecommunications services sectors as both fell by 2.4 and 1.65 percent respectively.

Qatar Navigation (Mellaha), was the session’s top performer adding 4.54 percent followed by Commercial Bank which rose by 1.35 percent.

In Oil space, Oil prices edged lower on Tuesday’s session while volatility fell to its lowest level in three weeks as investors were  prepared for a key meeting of the OPEC producer group next week.

The OPEC released its monthly report on Tuesday, citing the high level of uncertainty regarding the global oil market this year.

WTI Oil July prices fell in today’s session to trade at 66.05 USD per barrel at 12:00 GMT. Also, Brent August futures fell on today session to settle at 75.94 USD per barrel at 12:00 GMT.


Saudi Stock Exchange:

Saudi Arabia stocks ended Tuesday’s session in green felling by 0.32 percent or 26.5  points to close at 8,270.47 supported by gains in the Energy and Industrials sectors.

In stocks news, Nama Chemicals Company was the best performer in the session adding 7.82 percent followed by SABB Takaful Co and Saudi Research and Marketing Group as both added around 5.5 percent.

On the other hand, United Cooperative Assurance Company were the sessions top loser falling 21.8 percent followed by Al Rajhi Company for Cooperative Insurance which added 3.81percent.


United Arab Emirates Stock Market:

United Arab Emirates markets ended Tuesday’s session in mixed territories.

The ADI general index ended the session mostly flat to close the trade at 4,734.19 as gains in the Consumer Non-Cyclicals and Financials were offset by losses in the  Healthcare and Energy sectors.

In stock news, Gulf Medical Projects Co was the session’s worst performer tumbling 10 percent.

In Dubai, the DFM General fell by 0.59 percent or 18.42 points to close at 3,078.96, pressured by losses in the Consumer Cyclicals sector.

Commercial Bank of Dubai was the worst performer losing 4.77 percent, on the other hand; Gulf General Investment topped the DFM index adding 5.52 percent.

Egyptian Stock Market:

Egyptian shares ended today’s trading session slightly higher, the EGX30 Index rose by 0.11 percent or 16.86 points to end the session at 15,938.11. The index saw a massive drop in the last month falling more than 2000 points.

In stock news, Juhayna Food Industries was the session’s top loser slumping by 4  percent followed by Palm Hills Developments which dropped by 2.17 percent.

Ali Hwary

Ali Hwary

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