ANL 28.52 No Change ▼ 0.00 (0%)
ASC 16.68 Decreased By ▼ -0.03 (-0.18%)
ASL 23.76 Increased By ▲ 0.01 (0.04%)
AVN 94.24 Increased By ▲ 0.34 (0.36%)
BOP 9.47 No Change ▼ 0.00 (0%)
BYCO 9.56 Decreased By ▼ -0.02 (-0.21%)
DGKC 110.50 No Change ▼ 0.00 (0%)
EPCL 47.45 No Change ▼ 0.00 (0%)
FCCL 21.28 Increased By ▲ 0.13 (0.61%)
FFBL 27.97 No Change ▼ 0.00 (0%)
FFL 19.28 Increased By ▲ 0.01 (0.05%)
HASCOL 14.31 No Change ▼ 0.00 (0%)
HUBC 86.00 No Change ▼ 0.00 (0%)
HUMNL 7.30 Increased By ▲ 0.04 (0.55%)
JSCL 31.47 No Change ▼ 0.00 (0%)
KAPCO 40.73 No Change ▼ 0.00 (0%)
KEL 4.11 Increased By ▲ 0.01 (0.24%)
LOTCHEM 16.20 Increased By ▲ 0.01 (0.06%)
MLCF 43.02 No Change ▼ 0.00 (0%)
PAEL 39.86 Increased By ▲ 0.01 (0.03%)
PIBTL 12.91 Increased By ▲ 0.01 (0.08%)
POWER 11.40 No Change ▼ 0.00 (0%)
PPL 93.29 No Change ▼ 0.00 (0%)
PRL 23.80 No Change ▼ 0.00 (0%)
PTC 9.30 No Change ▼ 0.00 (0%)
SILK 1.20 No Change ▼ 0.00 (0%)
SNGP 44.33 Decreased By ▼ -0.02 (-0.05%)
TRG 108.48 No Change ▼ 0.00 (0%)
UNITY 33.15 No Change ▼ 0.00 (0%)
WTL 1.12 No Change ▼ 0.00 (0%)
BR100 4,856 Decreased By ▼ -9.94 (-0.2%)
BR30 24,724 Decreased By ▼ -96.85 (-0.39%)
KSE100 45,868 Decreased By ▼ -116.42 (-0.25%)
KSE30 19,061 Decreased By ▼ -87.18 (-0.46%)
Markets

Most Gulf markets up

• Dubai logs best day in 10 sessions • Abu Dhabi market bucks the trend DUBAI: Most major Gulf markets closed...
25 Nov 2020

• Dubai logs best day in 10 sessions

• Abu Dhabi market bucks the trend

DUBAI: Most major Gulf markets closed higher on Tuesday, tracking gains on global bourses, helped by a formal transition nod for US President-elect Joe Biden and new coronavirus vaccine developments. US President Donald Trump on Monday gave the head of the General Services Administration the go-ahead to proceed with a transition to a government led by Biden despite plans to continue with legal challenges.

Global financial markets have gained in recent weeks on encouraging news about the development of Covid-19 vaccines, spurring hopes of a speedy global economic revival. Oil prices, a key catalyst for the region's economies, hit their highest levels since March, when the collapse of an earlier OPEC-led output pact coincided with cratering demand due to the developing pandemic.

Saudi Arabia's benchmark index rose 0.3%, driven by gains in lender Al-Rajhi Bank and oil behemoth Saudi Aramco, which each added 0.6%. Aramco said its domestic fuel supplies had not been affected by Monday's attack on a petroleum products distribution plant in Jeddah by Yemen's Houthi group.

Dubai's main share index closed 1.9% higher, its biggest daily gain in 10 sessions, with financials and real estate stocks powering the benchmark. Emaar Properties added 4.5%, while lender Dubai Islamic Bank rose 1.4%, making the pair the top gainers on the benchmark.

The Abu Dhabi index, however, bucked the trend, easing 0.5%. First Abu Dhabi Bank lost 1.2%, as did International Holdings Co. In Qatar, the benchmark index fell 0.7%, with Qatar National Bank down 2.4% and Qatar Islamic Bank 2.7% lower. Outside the Gulf, Egypt's blue-chip index gained about 1%. Commercial International Bank Egypt broke an eight-session losing run to close 0.6% higher, while industrial firm El Sewedy Electric Co gained 6.6%.