AIRLINK 74.85 Increased By ▲ 0.56 (0.75%)
BOP 4.98 Increased By ▲ 0.03 (0.61%)
CNERGY 4.49 Increased By ▲ 0.12 (2.75%)
DFML 40.00 Increased By ▲ 1.20 (3.09%)
DGKC 86.35 Increased By ▲ 1.53 (1.8%)
FCCL 21.36 Increased By ▲ 0.15 (0.71%)
FFBL 33.85 Decreased By ▼ -0.27 (-0.79%)
FFL 9.72 Increased By ▲ 0.02 (0.21%)
GGL 10.45 Increased By ▲ 0.03 (0.29%)
HBL 112.74 Decreased By ▼ -0.26 (-0.23%)
HUBC 137.44 Increased By ▲ 1.24 (0.91%)
HUMNL 11.42 Decreased By ▼ -0.48 (-4.03%)
KEL 5.28 Increased By ▲ 0.57 (12.1%)
KOSM 4.63 Increased By ▲ 0.19 (4.28%)
MLCF 37.80 Increased By ▲ 0.15 (0.4%)
OGDC 139.50 Increased By ▲ 3.30 (2.42%)
PAEL 25.61 Increased By ▲ 0.51 (2.03%)
PIAA 20.68 Increased By ▲ 1.44 (7.48%)
PIBTL 6.80 Increased By ▲ 0.09 (1.34%)
PPL 122.20 Increased By ▲ 0.10 (0.08%)
PRL 26.58 Decreased By ▼ -0.07 (-0.26%)
PTC 14.05 Increased By ▲ 0.12 (0.86%)
SEARL 58.98 Increased By ▲ 1.76 (3.08%)
SNGP 68.95 Increased By ▲ 1.35 (2%)
SSGC 10.30 Increased By ▲ 0.05 (0.49%)
TELE 8.38 Decreased By ▼ -0.02 (-0.24%)
TPLP 11.06 Decreased By ▼ -0.07 (-0.63%)
TRG 64.19 Increased By ▲ 1.38 (2.2%)
UNITY 26.55 Increased By ▲ 0.05 (0.19%)
WTL 1.45 Increased By ▲ 0.10 (7.41%)
BR100 7,841 Increased By 30.9 (0.4%)
BR30 25,465 Increased By 315.4 (1.25%)
KSE100 75,114 Increased By 157.8 (0.21%)
KSE30 24,114 Increased By 30.8 (0.13%)

DUBAI: Dubai’s main index surged over 1% on Monday amid high expectations for state utility Dubai Electricity and Water Authority’s (DEWA) initial public offering, while sentiment was muted in Egypt after inflation surged.

DEWA, likely to begin trading on Tuesday, is set to raise 22.32 billion dirhams ($6.1 billion) in the Gulf’s biggest IPO since Saudi Aramco’s record deal in 2019.

“The launch could reinvigorate trading volumes as demand for the stock is still high,” said Wael Makarem, senior market strategist – MENA at Exness.

Dubai’s main share index ended up 1.3%, posting its best day in two weeks. Air Arabia drove the gains and ended up nearly 9%.

Outside the Gulf, Egypt’s blue-chip index dropped 1.6% in its sixth straight session of losses.

Egypt’s annual urban consumer price inflation accelerated in March to 10.5%, its highest in nearly three years, as commodity shortages drove price increases in the region.

Financials dragged the index, and only five stocks ended marginally higher.

The Qatari index extended gains to over 3% from the previous session to hit a record high, before paring the gains to end 0.1% higher.

Qatar National Bank rose 3.4% after it posted a 9% rise in quarterly profit.

Saudi Arabia’s benchmark index closed 0.7% up.

Shares of Saudi Basic Industries, Northern Region Cement Company and Saudi Cement Company fell between 2% and 4% as these stocks began trading ex-dividend.

In Abu Dhabi, the index rose 0.7%.

SAUDI ARABIA up 0.7% to 13,483

ABU DHABI rose 0.7% to 10,166

DUBAI added 1.3% to 3,588

QATAR rose 0.1% to 14,494

EGYPT shed 1.6% to 10,729

BAHRAIN was down 1.1% to 2,100

OMAN flat at 4,241

KUWAIT flat at 9,133.

Comments

Comments are closed.