AGL 38.78 Decreased By ▼ -0.72 (-1.82%)
AIRLINK 194.29 Increased By ▲ 17.66 (10%)
BOP 10.84 Increased By ▲ 0.75 (7.43%)
CNERGY 6.87 No Change ▼ 0.00 (0%)
DCL 10.19 Increased By ▲ 0.26 (2.62%)
DFML 43.13 Increased By ▲ 0.39 (0.91%)
DGKC 96.61 Decreased By ▼ -1.56 (-1.59%)
FCCL 38.07 Decreased By ▼ -1.24 (-3.15%)
FFBL 81.43 Decreased By ▼ -0.43 (-0.53%)
FFL 14.03 Decreased By ▼ -0.36 (-2.5%)
HUBC 118.98 Decreased By ▼ -2.46 (-2.03%)
HUMNL 14.77 Decreased By ▼ -0.57 (-3.72%)
KEL 5.74 Increased By ▲ 0.08 (1.41%)
KOSM 8.49 Increased By ▲ 0.37 (4.56%)
MLCF 46.54 Decreased By ▼ -1.57 (-3.26%)
NBP 77.23 Increased By ▲ 1.41 (1.86%)
OGDC 194.78 Decreased By ▼ -2.63 (-1.33%)
PAEL 34.74 Increased By ▲ 2.36 (7.29%)
PIBTL 8.38 Increased By ▲ 0.23 (2.82%)
PPL 174.57 Decreased By ▼ -0.93 (-0.53%)
PRL 33.17 Decreased By ▼ -0.92 (-2.7%)
PTC 24.57 Increased By ▲ 2.23 (9.98%)
SEARL 110.04 Increased By ▲ 6.84 (6.63%)
TELE 8.90 Increased By ▲ 0.39 (4.58%)
TOMCL 34.83 Decreased By ▼ -0.20 (-0.57%)
TPLP 11.69 Increased By ▲ 0.43 (3.82%)
TREET 18.56 Decreased By ▼ -0.59 (-3.08%)
TRG 60.06 Increased By ▲ 1.50 (2.56%)
UNITY 36.49 Increased By ▲ 1.63 (4.68%)
WTL 1.75 Increased By ▲ 0.16 (10.06%)
BR100 11,701 Increased By 49.8 (0.43%)
BR30 35,411 Decreased By -67.2 (-0.19%)
KSE100 109,054 Increased By 815 (0.75%)
KSE30 33,849 Increased By 155.6 (0.46%)

DUBAI: Most Gulf stock markets ended higher on Sunday, buoyed by a rise in oil prices due to easing concerns over the Omicron coronavirus variant’s impact on global growth and fuel demand. Saudi Arabia’s benchmark index rose 0.3%, with Sahara International Petrochemical Company rising 3.3% and petrochemical maker Saudi Basic Industries Corp adding 1.1%.

However, the index’s gains were limited by losses at Saudi Telecom Company (STC), which dropped about 3% after the final price for the sale of 120 million shares of the company was set at 100 riyals per share, at the lower end of an earlier price range of 100 to 116 riyals.

The Saudi sovereign wealth fund, the Public Investment Fund, is set to raise 12 billion riyals ($3.20 billion) through the sale of a 6% stake in STC. Dubai’s main share index edged 0.2% higher, rising for an eighth session, helped by a 0.6% increase in sharia-compliant lender Dubai Islamic Bank.

Dubai’s deputy ruler and finance minister Sheikh Maktoum Bin Mohammed announced the listing of Emirates Central Cooling Systems Corporation (Empower), the emirate’s media office reported on Saturday. The government announced plans for Empower’s flotation among 10 state-backed companies to be listed as part of efforts to boost activity on the local bourse.

The listings are aimed at making Dubai a more competitive market against bigger bourses in the region, such as those in Saudi Arabia and neighbouring Abu Dhabi, which are achieving larger listings and strong liquidity. In Abu Dhabi, the index gained 1%, snapping three sessions of losses, with Emirates Telecommunication Group rising 2.3%.

The United Arab Emirates expects its move to a 4-1/2 day working week and a Saturday-Sunday weekend will boost its economy and make it a more attractive place for foreigners to live, the minister of human resources and Emiratisation said on Wednesday. Last week, the UAE announced that from the start of 2022 it would shift to a working week that ends on Friday afternoon, with a Saturday-Sunday weekend instead of Friday and Saturday.

Outside the Gulf, Egypt’s blue-chip index advanced 1.5%, buoyed by a 2.7% rise in top lender Commercial International Bank.

SAUDI ARABIA added 0.3% to 10,969

ABU DHABI advanced 1% to 8,971

DUBAI added 0.2% to 3,231

QATAR was flat at 11,624

EGYPT rose 1.5% to 11,708

BAHRAIN was flat at 1,786

OMAN fell 0.5% to 3,987

KUWAIT eased 0.2% to 7,615.

Comments

Comments are closed.