ANL 32.80 Decreased By ▼ -0.76 (-2.26%)
ASC 14.60 Decreased By ▼ -0.46 (-3.05%)
ASL 22.89 Decreased By ▼ -0.79 (-3.34%)
AVN 87.88 Decreased By ▼ -3.62 (-3.96%)
BOP 7.97 Increased By ▲ 0.06 (0.76%)
BYCO 9.96 Decreased By ▼ -0.01 (-0.1%)
DGKC 116.20 Decreased By ▼ -4.28 (-3.55%)
EPCL 53.50 No Change ▼ 0.00 (0%)
FCCL 23.68 Decreased By ▼ -0.12 (-0.5%)
FFBL 27.55 Decreased By ▼ -0.09 (-0.33%)
FFL 15.30 Decreased By ▼ -0.45 (-2.86%)
HASCOL 9.25 Decreased By ▼ -0.15 (-1.6%)
HUBC 76.50 Decreased By ▼ -1.40 (-1.8%)
HUMNL 6.19 Decreased By ▼ -0.15 (-2.37%)
JSCL 20.51 Decreased By ▼ -0.64 (-3.03%)
KAPCO 38.70 Decreased By ▼ -1.14 (-2.86%)
KEL 3.76 Decreased By ▼ -0.01 (-0.27%)
LOTCHEM 15.50 Decreased By ▼ -0.18 (-1.15%)
MLCF 43.75 Decreased By ▼ -1.25 (-2.78%)
PAEL 32.70 Decreased By ▼ -1.40 (-4.11%)
PIBTL 9.95 Decreased By ▼ -0.25 (-2.45%)
POWER 8.65 Decreased By ▼ -0.28 (-3.14%)
PPL 83.30 Decreased By ▼ -1.30 (-1.54%)
PRL 24.05 Increased By ▲ 0.06 (0.25%)
PTC 9.15 Decreased By ▼ -0.34 (-3.58%)
SILK 1.36 Decreased By ▼ -0.08 (-5.56%)
SNGP 39.35 Decreased By ▼ -1.15 (-2.84%)
TRG 171.00 Decreased By ▼ -2.00 (-1.16%)
UNITY 31.25 Decreased By ▼ -1.12 (-3.46%)
WTL 1.52 Decreased By ▼ -0.10 (-6.17%)
BR100 4,825 Decreased By ▼ -39.51 (-0.81%)
BR30 25,060 Decreased By ▼ -492.1 (-1.93%)
KSE100 44,930 Decreased By ▼ -376.93 (-0.83%)
KSE30 18,375 Decreased By ▼ -128.29 (-0.69%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,842
14424hr
Pakistan Cases
784,108
587024hr
Sindh
275,815
Punjab
282,469
Balochistan
21,365
Islamabad
72,150
KPK
110,875

DUBAI: Most stock markets in the Gulf ended higher on Wednesday, with Dubai leading gains boosted by its top lender Emirates NBD, while Saudi bucked the trend to close lower.

Dubai’s main share index advanced 1.4%, with Emirates NBD jumping 4.4% and sharia-compliant lender Dubai Islamic Bank up 0.8%.

Emirates NBD recorded a more 20% increase in the number and value of fund transfers via its DirectRemit platform in 2020 compared to the previous year.

Property stocks also drove gains, with blue-chip developer Emaar Properties ending 1% higher.

In Abu Dhabi, the index added 0.3%, with Aldar Properties surging 8.1% in its biggest intraday gain since October.

On Wednesday, the Abu Dhabi Executive Council approved a framework between the Abu Dhabi Government and Aldar Properties for development of capital projects in the emirate.

The framework includes Aldar taking on the management of 30 billion dirhams ($8.17 billion) worth of major projects.

The index’s gains, however, were limited by losses at telecoms firm Etisalat, which closed 3.2% lower.

Etisalat had posted its best day in nearly six years on Tuesday as the company called a board meeting for Wednesday to discuss increasing the foreign ownership limit in the firm.

Qatar’s main index gained 0.3%, led by a 3.3% jump in market heavyweight Industries Qatar.

Elsewhere, Saudi Arabia’s benchmark index fell 0.3%, hit by a 1.4% fall Saudi Telecom Company and a 0.3% drop in Al Rajhi Bank.

Outside the Gulf, Egypt’s blue-chip index tacked on 0.9%, with most of the stocks on the index in positive territory, including Commercial International Bank which advanced 1.1%.

Meanwhile, Egypt and Qatar have agreed to resume diplomatic relations, the Egyptian foreign ministry said on Wednesday.

The move follows an agreement between Saudi Arabia, United Arab Emirates, Bahrain and Egypt earlier this month to end their boycott of Qatar dating from 2017 over allegations it supported terrorism, a charge that Doha denies.