ANL 15.34 Decreased By ▼ -0.54 (-3.4%)
ASC 13.24 Decreased By ▼ -0.26 (-1.93%)
ASL 17.60 Decreased By ▼ -0.70 (-3.83%)
BOP 8.70 Decreased By ▼ -0.18 (-2.03%)
BYCO 7.20 Decreased By ▼ -0.15 (-2.04%)
FCCL 18.44 Increased By ▲ 0.35 (1.93%)
FFBL 22.95 Decreased By ▼ -0.15 (-0.65%)
FFL 15.05 Decreased By ▼ -0.25 (-1.63%)
FNEL 7.09 Decreased By ▼ -0.02 (-0.28%)
GGGL 16.70 Decreased By ▼ -0.16 (-0.95%)
GGL 27.80 Decreased By ▼ -0.35 (-1.24%)
HUMNL 6.70 Increased By ▲ 0.06 (0.9%)
JSCL 19.25 Decreased By ▼ -0.35 (-1.79%)
KAPCO 26.70 Decreased By ▼ -0.30 (-1.11%)
KEL 3.42 Decreased By ▼ -0.01 (-0.29%)
MDTL 2.14 Decreased By ▼ -0.04 (-1.83%)
MLCF 35.30 Increased By ▲ 0.29 (0.83%)
NETSOL 101.20 Decreased By ▼ -2.55 (-2.46%)
PACE 4.11 Decreased By ▼ -0.07 (-1.67%)
PAEL 26.19 Decreased By ▼ -0.96 (-3.54%)
PIBTL 8.14 Decreased By ▼ -0.06 (-0.73%)
POWER 7.25 Increased By ▲ 0.32 (4.62%)
PRL 16.11 Decreased By ▼ -0.33 (-2.01%)
PTC 9.04 Decreased By ▼ -0.04 (-0.44%)
SILK 1.47 Decreased By ▼ -0.03 (-2%)
SNGP 39.97 Decreased By ▼ -0.78 (-1.91%)
TELE 16.55 Decreased By ▼ -0.59 (-3.44%)
TRG 126.00 Decreased By ▼ -4.36 (-3.34%)
UNITY 29.35 Decreased By ▼ -0.55 (-1.84%)
WTL 2.38 Decreased By ▼ -0.05 (-2.06%)
BR100 4,730 Decreased By ▼ -33.56 (-0.7%)
BR30 20,317 Decreased By ▼ -354.35 (-1.71%)
KSE100 45,578 Decreased By ▼ -243.04 (-0.53%)
KSE30 17,872 Decreased By ▼ -134.34 (-0.75%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,359
1524hr
Pakistan Cases
1,267,945
55224hr
1.41% positivity
Sindh
467,142
Punjab
438,818
Balochistan
33,171
Islamabad
106,655
KPK
177,349
Markets

Saudi shares firm as major Gulf markets end mixed

  • Saudi Arabia's benchmark index finished 0.3% higher, with Al Rajhi Bank rising 2% and Samba Financial Group climbing 1.4%.
  • In Dubai, the main share index eased 0.2%, hit by a 1.9% fall in blue-chip developer Emaar Properties and a 1.1% retreat in sharia-compliant lender Dubai Islamic Bank .
Updated 08 Mar 2021

Saudi Arabia's stock market recouped earlier losses to end higher on Monday, led by gains in financial shares, while other major Gulf markets were mixed.

Saudi shares had eased earlier following reports that Yemen's Houthi forces fired drones and missiles at the heart of the kingdom's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh called the attack a failed assault on global energy security.

"While the Houthi drone and missile attacks on Saudi oil facilities, including the Ras Tanura facility, did not result in any production outages, they underscored just how dangerous the security environment remains in the region," said Helima Croft, head of global commodity strategy and MENA Research at RBC Capital Markets.

Saudi Arabia's benchmark index finished 0.3% higher, with Al Rajhi Bank rising 2% and Samba Financial Group climbing 1.4%.

Meanwhile, oil prices, a key catalyst for the Gulf region's financial markets, climbed above $70 a barrel for the first time since the start of the coronavirus crisis.

Last week, investors were surprised that the kingdom had decided to maintain its voluntary cut of 1 million barrels per day through April even after the oil price rally of the past two months as COVID-19 vaccination programmes gained pace around the globe.

In Dubai, the main share index eased 0.2%, hit by a 1.9% fall in blue-chip developer Emaar Properties and a 1.1% retreat in sharia-compliant lender Dubai Islamic Bank .

The Abu Dhabi index closed 0.1% lower, driven down by a 1.6% drop in Abu Dhabi Commercial Bank.

Qatar's benchmark share index, which traded after a session's break, gained 0.5%, with petrochemical maker Industries Qatar advancing 2.2%.

Outside the Gulf, Egypt's blue-chip index was down 0.9%, with the country's largest lender Commercial International Bank Egypt falling 0.9%.

Comments

Comments are closed.