ANL 33.20 Decreased By ▼ -1.15 (-3.35%)
ASC 15.43 Increased By ▲ 1.03 (7.15%)
ASL 23.86 Decreased By ▼ -0.14 (-0.58%)
AVN 89.25 Decreased By ▼ -2.20 (-2.41%)
BOP 7.78 Increased By ▲ 0.08 (1.04%)
BYCO 9.71 Increased By ▲ 0.07 (0.73%)
DGKC 115.00 Decreased By ▼ -0.50 (-0.43%)
EPCL 50.50 Decreased By ▼ -0.51 (-1%)
FCCL 23.40 Increased By ▲ 0.10 (0.43%)
FFBL 26.40 Increased By ▲ 0.40 (1.54%)
FFL 16.18 Increased By ▲ 0.28 (1.76%)
HASCOL 9.29 Increased By ▲ 0.29 (3.22%)
HUBC 79.00 Increased By ▲ 0.05 (0.06%)
HUMNL 6.10 Decreased By ▼ -0.15 (-2.4%)
JSCL 20.40 Increased By ▲ 0.24 (1.19%)
KAPCO 40.21 Increased By ▲ 0.05 (0.12%)
KEL 3.90 Decreased By ▼ -0.09 (-2.26%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 44.50 Decreased By ▼ -0.50 (-1.11%)
PAEL 32.27 Decreased By ▼ -0.27 (-0.83%)
PIBTL 9.99 Increased By ▲ 0.15 (1.52%)
POWER 8.80 Decreased By ▼ -0.05 (-0.56%)
PPL 82.80 Increased By ▲ 1.21 (1.48%)
PRL 24.95 Increased By ▲ 1.31 (5.54%)
PTC 9.26 Increased By ▲ 0.04 (0.43%)
SILK 1.35 Decreased By ▼ -0.02 (-1.46%)
SNGP 43.68 Increased By ▲ 1.88 (4.5%)
TRG 182.80 Increased By ▲ 4.62 (2.59%)
UNITY 41.25 Increased By ▲ 2.87 (7.48%)
WTL 1.68 Decreased By ▼ -0.01 (-0.59%)
BR100 4,959 Increased By ▲ 32.4 (0.66%)
BR30 25,887 Increased By ▲ 233.44 (0.91%)
KSE100 45,982 Increased By ▲ 191.46 (0.42%)
KSE30 18,826 Increased By ▲ 108.77 (0.58%)

Coronavirus
VERY HIGH
Pakistan Deaths
19,752
13524hr
Pakistan Cases
882,928
256624hr
Sindh
299,913
Punjab
328,775
Balochistan
23,931
Islamabad
79,371
KPK
127,224

DUBAI: Stock markets in the Gulf ended higher on Monday, with the Abu Dhabi index marking its best session in more than nine months, led by United Arab Emirates’ top lender, First Abu Dhabi Bank.

The Abu Dhabi index gained nearly 4% and the benchmark has risen in all but two sessions so far in the new year.

First Abu Dhabi Bank was the best performer on the benchmark, adding about 8%. Another bank, Abu Dhabi Commercial Bank, rose nearly 5%.

The Abu Dhabi Department of Finance has announced a 6 billion-dirham ($1.63 billion) supply chain financing initiative to support a variety of sectors, as a key initiative in its commitment to support small and medium enterprises.

The first phase of this initiative is in partnership with the National Health Insurance Co and First Abu Dhabi Bank, aiming to provide liquidity to healthcare SMEs.

Dubai’s main share index advanced 1.2%, led by a 1.5% gain in developer Emaar Properties and a 0.9% increase in the emirate’s biggest bank, Emirates NBD.

Elsewhere, Saudi Arabia’s benchmark index gained 0.6%, with Saudi Telecom rising 5.4% to finish as the best performer.

Financial stocks also underpinned the gains, with Riyad Bank and Samba Financial Group tacking on 1.9% and 1.8%, respectively. Separately, Saudi Basic Industries Corp has hired NCB Capital to advise on a potential listing of its speciality chemicals business, an offering that could raise several hundred million dollars, three sources told Reuters. In Qatar, the main index finished little changed as a 1.3% gain in Industries Qatar was offset by losses in Qatar Islamic Bank, which finished 1.8% lower.

QIB reported a net profit of 3.07 billion riyals ($839.30 million) for the fiscal year 2020, up from 3.06 billion riyals a year earlier, but cut its 2020 dividend to 0.40 riyal per share from 0.525 riyal in 2019.

Outside the Gulf, Egypt’s blue-chip index ended the session little changed. Tobacco firm Eastern Co, which gained 0.7%, was the best performer in the index.