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August 3, 2021

Mena stock market traded mix, as oil prices dropped.


Mena stock market traded mix, as oil prices dropped on Wednesday after an industry group reported that U.S crude inventories rose last week.

Bahraini shares closed the session lower as Manama’s primary Bahraini index fell by 0.53 percent or 7.23 points to settle at 1,350.90 pressured by losses in the Financials, and Industrials Sectors which lost 0.69, and 0.12 percent, respectively.

Regarding the Top gainers, Ahli United Bank, was the best performer as it rose by 2.26 percent, followed by Bahrain Commercial Facilities which rose by 0.65 percent.

National Bank of Bahrain, Ahli United Bank and Nass Corporation were the biggest losers on the BAX index, the lost 1.65, 1.47, and 0.96 percent, respectively.

Furthermore, Qatar equities closed the session in the red as QSI lost 0.02 percent or 1.88 points to end the session higher at 9,447.76 pressured by losses in the Financials, Energy, and Telecommunications Services Sectors which lost 0.54, 0.45, and 0.37 percent.

In movers, Qatar International Islamic Bank was the session’s top performer adding 1.85 percent followed by Qatari Investors Group that added 0.52 percent.

On the other Hand, Qatar First Bank was the biggest loser for today’s session losing 1.62 percent, while Qatar National Bank lost 1.24 percent.

Saudi Stock Market:

Saudi shares were trading lower on Wednesday as Saudi’s main index TASI fell by 0.12 percent or 10.29 points to end the session at 8,452.30 pressured by losses in Consumer Non-Cyclicals, Energy, and Consumer Non-Cyclicals sectors.

In the Corporate space, Al Ahlia Cooperative Insurance, shed 10.0 percent, followed by Salma Cooperative insurance which gained 6.67, followed by Mediterranean and Gulf Cooperative Insurance.

On the other hand, Nama Chemicals Company was the biggest loser on the tasi index, dropping by 6.29 percent, followed by Aldrees petroleum and transport services which lost 5.3 percent.


United Arab Emirates Stock Market:

UAE shares closed today’s trading session in positive territory.

Abu Dhabi equities closed Wednesday’s session higher as gains in Utilities, Consumer Non-Cyclicals, and Financials sectors supported the broader market. Abu Dhabi’s leading benchmark ADI gained 0.35 percent or 16.42 points to settle higher at 4,755.01.

Abu Dhabi National Energy company was the best performer on Wednesday’s trading session as it rose 4.17 percent, followed by Waha Capital which added 2.29 percent.

Moreover, Dubai shares were trading higher as DFMGI rose by 0.64 percent or 18.76 points to end the session up at 2,931.90  supported by gains in Utilities, Telecommunications Services, Financials shares.

In the corporate space, Emirates NBD Bank was the best performer on DFM Index adding 1.98 percent, followed by National Central Cooling Co which rose by 1.67 percent.

Egypt Stock Market:

Egyptian shares were higher on today’s session as EGX30 rose by 1.02 percent or 158.01 points to settle higher at 15,578.73 supported by significant gains in the Consumer Cyclicals, Energy, and Financials sectors 4.1, 1.39, and 1.19 percent, respectively.

Emaar Misr For Development was the biggest gainer on EGX30 as its share rose by 6.38 percent followed by Heliopolis Co For Housing and Development as its stock rose by 4.77 percent.


Ali Hwary

Ali Hwary

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Mena stock markets shed value on Tuesday, hit by a drop in oil prices.

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