MENA markets finish in mixed territories

MENA markets finish in mixed territories

August 1, 2018 Off By Yhumi Tsun

Mena stock markets ended the trading session in mixed territoires, with markets in Qatar, Abu Dhabi, and Egypt markets trading on higher grounds. Meanwhile, Bahrain, Saudi Arabia and Dubai markets underpreforming.

Furthermore, shares in Bahrain closed the session in the red as the primary Bahraini index edged lower by 0.89 percent or 12.153 points to settle lower at 1,358.436 pulled down by the by the losses in the basic materials and financial sectors.

Moreover, Qatar equities closed the session on higher, where Doha’s main index QSI remained edged higher by 1.80 percent or 173.34 points to end the session at 9,825.11.

Additionally, Oil dropped on Tuesday and Brent futures were on track for their largest monthly drop since two years after a survey showed OPEC’s output hit a 2018 high in July, reigniting concerns about supply flooding the exisitng demand.

The U.S. West Texas Intermediate Crude Oil September futures were trading lower at 68.91 at 19:00 GMT.

However, Brent Oil September futures were lower to trade at 70.30 USD per barrel at 19:00 GMT.

Saudi Stock Market:

Saudi Arabia stocks were lower at close on Tuesday, as losses in the Telecoms and IT, Energy and Utilities and Building and Construction sectors led the TASI index lower by 0.17 percent to close the session at 8.294.83.

The best performers of the session on the Tadawul All Share were Saudi Research and Marketing Group which rose by 9.95 percent or 9.90 points to trade at 109.40 at the close. Meanwhile, Saudi Paper Manufacturing Co. added 9.93 percent or 0.71 points to end at 7.86 and Falcom Petrochemical was up 6.90 percent or 2.20 points to 34.10 in late trade.

The worst performers of the session were National Medical Care Company which fell by 4.78 percent or 2.70 points to trade at 53.80 at the close. Nama Chemicals Co. declined by 4.11 percent or 1.20 points to end at 28.00 and Al Sagr Co-operative Insurance Co was down 3.33 percent or 0.56 points to 16.24.

United Arab Emirates Stock Market:

United Arab Emirates stocks were mixed at the close on Tuesday, as gains in the Real Estate and Construction, Transport and Consumer Staples sectors led shares higher while losses in the Services, Finance and Investment and Insurance sectors led shares lower.

Moreover, Abu Dhabi’s leading benchmark ADI gained 0.27 percent to close the session at 4,859.45. The top performers on the ADX General were the

Abu Dhabi National for Building Materials Co PJSC which was down by 7.41 percent to 0.500 in late trade, Ad Natl Energy which lost 1.63 percent to settle at 1.210 and International Holding Company PJSC which was down 1.57 percent to 1.25 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 24 to 6 and 5 ended unchanged; on the Abu Dhabi, 11 fell and 7 advanced, while 8 ended unchanged.

Furthermore, the DFM General, Dubai’s main index dropped by 0.32 close the session at 2.955.95. The best performers of the session on the DFM General were Damac Properties Dubai Co PSC, which rose by 4.95 percent or 0.110 points to trade at 2.330 at the close.

Egypt Stock Market:

Egyptian shares were higher after Cairo’s EGX30 gained by 1.85 percent or 283.17 points to edge higher at 15,580.19  pulled higher by the gains in the In the financials and telecommunication services.

Regarding specific stocks, Talaat Mostafa Group Holding was up by 6.95 percent. Additionally, Sixth of October Development rose by 6.28 percent. Egyptian Chemical Industries, however, was down by 2.91 percent.