AIRLINK 73.18 Increased By ▲ 0.38 (0.52%)
BOP 5.00 Decreased By ▼ -0.06 (-1.19%)
CNERGY 4.37 Increased By ▲ 0.04 (0.92%)
DFML 29.95 Decreased By ▼ -0.57 (-1.87%)
DGKC 91.39 Increased By ▲ 5.44 (6.33%)
FCCL 23.15 Increased By ▲ 0.80 (3.58%)
FFBL 33.50 Increased By ▲ 0.28 (0.84%)
FFL 9.92 Increased By ▲ 0.14 (1.43%)
GGL 10.35 Decreased By ▼ -0.05 (-0.48%)
HBL 113.01 Decreased By ▼ -0.61 (-0.54%)
HUBC 136.28 Increased By ▲ 0.08 (0.06%)
HUMNL 9.60 Decreased By ▼ -0.43 (-4.29%)
KEL 4.78 Increased By ▲ 0.12 (2.58%)
KOSM 4.72 Increased By ▲ 0.32 (7.27%)
MLCF 39.89 Increased By ▲ 1.54 (4.02%)
OGDC 133.90 Increased By ▲ 0.50 (0.37%)
PAEL 28.85 Increased By ▲ 1.45 (5.29%)
PIAA 25.00 Increased By ▲ 0.24 (0.97%)
PIBTL 6.94 Increased By ▲ 0.39 (5.95%)
PPL 122.40 Increased By ▲ 1.19 (0.98%)
PRL 27.40 Increased By ▲ 0.25 (0.92%)
PTC 14.80 Increased By ▲ 0.91 (6.55%)
SEARL 60.40 No Change ▼ 0.00 (0%)
SNGP 70.29 Increased By ▲ 1.76 (2.57%)
SSGC 10.42 Increased By ▲ 0.09 (0.87%)
TELE 8.85 Decreased By ▼ -0.20 (-2.21%)
TPLP 11.32 Increased By ▲ 0.06 (0.53%)
TRG 66.57 Increased By ▲ 0.87 (1.32%)
UNITY 25.20 Decreased By ▼ -0.05 (-0.2%)
WTL 1.55 Increased By ▲ 0.05 (3.33%)
BR100 7,676 Increased By 42.9 (0.56%)
BR30 25,471 Increased By 298.6 (1.19%)
KSE100 73,086 Increased By 427.5 (0.59%)
KSE30 23,427 Increased By 44.5 (0.19%)
Markets Print 2021-03-03

Major Gulf markets gain; ex-dividend stocks drag down Qatar

DUBAI: Most Gulf stockmarkets ended higher on Tuesday, led by gains in financial and property stocks, but the Qatari...
Published March 3, 2021

DUBAI: Most Gulf stock markets ended higher on Tuesday, led by gains in financial and property stocks, but the Qatari index was pressured by a slew of blue-chips trading ex-dividend.

Saudi Arabia’s benchmark index climbed 1.2%, outperforming the region, boosted by a 2.5% rise in Al Rajhi Bank and a 3.3% jump in National Commercial Bank, the kingdom’s largest lender. However, oil behemoth Saudi Aramco eased 0.1%.

In Qatar, the benchmark slid 1.4%, dragged down by a 4.7% fall in petrochemical firm Industries Qatar and a 4.8% decline in lender Masraf Al Rayan as the duo traded ex-dividend.

The shares of both companies saw their biggest intraday falls since March 9, 2020 when the region witnessed panic trading following a more than 20% plunge in oil futures after Saudi Arabia slashed prices as an OPEC deal collapsed. Dubai’s main share index gained 0.7%, with blue-chip developer Emaar Properties rising 1.7%, while Shariah-compliant lender Dubai Islamic Bank finished 0.8% higher. Elsewhere, Amanat Holding was up 0.7%, extending gains from the previous session. On Monday, the Dubai-listed healthcare company said it had bought long-term care specialist Cambridge Medical and Rehabilitation Center for an enterprise value of $232 million from private equity firm TVM Capital Healthcare. In Abu Dhabi, the index added 0.8%, buoyed by a 1.8% gain in the country’s largest lender First Abu Dhabi Bank. Outside the Gulf, Egypt’s blue-chip index fell 0.4%, hit by a 0.6% fall in top lender Commercial International Bank Egypt.

Comments

Comments are closed.