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coronavirus
Coronavirus
VERY HIGH
Source: covid.gov.pk
Pakistan Deaths
29,077
1224hr
Pakistan Cases
1,360,019
6,54024hr
Sindh
520,415
Punjab
460,335
Balochistan
33,855
Islamabad
115,939
KPK
183,865

DUBAI: Most major stock markets in the Gulf ended lower on Sunday, with Saudi Arabia leading the losses, although the Abu Dhabi index bucked the trend to close higher. Saudi Arabia's benchmark declined 1.3%, dragged down by a 1.7% fall in Al Rajhi Bank and a 1.8% drop in Saudi National Bank, the kingdom's largest lender.

Among others, dairy business Almarai Company fell by 2.7% after reporting second-quarter net profit down 25% year on year at 482 million riyals ($128.51 million).

However, Alkhorayef Water and Power Technologies gained 0.7%, extending gains from the previous session.

Last week Jeddah municipality awarded the company a new 131.6 million riyal operation and maintenance contract.

Dubai's main share index dropped 0.7%, weighed down by a 2.2% slide in Emirates NBD Bank and a 0.7% decrease in blue-chip developer Emaar Properties.

But, Shuaa Capital jumped over 13% during the session before closing 3.8% higher.

The United Arab Emirates financial firm Shuaa said in a clarification of a media report that it is in the early stages of research and talks with investment banks about the possibility of establishing special purpose vehicles.

In Abu Dhabi, the index added 0.4%, ending three sessions of losses, with Ras Al Khaimah Cement Company jumping about 15%.

Separately, the initial public offering (IPO) of Yahsat, the satellite company of Abu Dhabi state investor Mubadala, is set to raise 2.68 billion dirhams ($729.69 million) after the deal was priced around the middle of an indicative price range.

The Qatari index lost 0.5%, hit by a 1.3% fall in petrochemical maker Industries Qatar. Post trading hours, Qatar National Bank (QNB) reported a net profit of 3.464 billion Qatari riyals ($939.36 million) for the second-quarter, up from 2.824 billion riyals in the same period last year.

QNB, the Gulf's biggest lender, was down 0.6%. Outside the Gulf, Egypt's blue-chip index eased 0.3%, with its top lender Commercial International Bank losing 0.4%.

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