DUBAI: Most stock markets in the Gulf ended higher on Wednesday, with Dubai leading the gains on back of Emirates NBD Bank.
Saudi Arabia’s benchmark index edged up 0.2%, with Saudi Kayan Petrochemical Company rising 6.8% and Saudi Arabian Mining Company was up 2.6%.
The index’s gains, however, were capped by losses at oil behemoth Saudi Aramco, which declined 0.8%.
Dubai’s main share index climbed 0.9%, with Emirates NBD Bank leaping 3.4% logistic firm Aramex.
The Dubai Financial Market said on Tuesday it plans to launch an equity derivatives platform as part of its diversification strategy.
The Abu Dhabi index closed up 0.5%, helped by a 0.5% gain in First Abu Dhabi Bank (FAB) and a 0.7% increase in telecoms firm Etisalat.
In Qatar, the index increased 0.8%, driven by a 2.7% increase in Qatar Islamic Bank and a 1.1% rise in Qatar National Bank. Back in the UAE, Abu Dhabi National Oil Company for Distribution advanced 2%.
Kuwait was closed following the death of its Emir Sheikh Sabah al-Ahmad al-Sabah.
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