AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

DUBAI: Most stock markets in the Middle East ended higher on Thursday, with Egypt’s blue-chip index outperforming the region, while the Qatari index was hit by Masraf Al Rayan.

Egypt’s blue-chip index jumped more than 3%, its biggest intraday gain in more than a month, with most stocks in positive territory.

Egyptian President Abdel Fattah al-Sisi ordered the government to set a program for the private sector’s participation in state-owned assets, with a target of $10 billion annually for four years, private television channel Extra News reported on Tuesday.

Investor confidence was supported by the positive earnings and the government’s efforts to reinvigorate the economy and the stock market, said Fadi Reyad, market analyst at CAPEX.com MENA.

Saudi Arabia’s benchmark index finished 0.7% higher, with the kingdom’s largest lender Saudi National Bank leaping 5.3%, extending gains from the previous session, when it reported a sharp rise in quarterly net profit.

Among other gainers, oil giant Saudi Aramco climbed 1.2%, rising for a third consecutive session.

Ratings agency Fitch this week revised its outlook for Aramco to “positive” from “stable”, on higher oil revenues. The Qatari index eased 0.2%, weighed down by a 5.2% slide in Masraf Al Rayan as the sharia-compliant lender traded ex-dividend. Masraf Al Rayan also reported a decline in first-quarter net profit.

However, the index’s losses were limited by gains at Gulf International Services, which jumped 10%, as it swung to a profit in the first-quarter.

In Abu Dhabi, the index advanced 0.8%, boosted by a 0.8% gain in the country’s largest lender First Abu Dhabi Bank , which reported its highest quarterly net profit helped by the sale of a majority stake in its payments business.

Dubai’s main share index closed 0.9% higher, with blue-chip developer Emaar Properties gaining 1.6%.

SAUDI ARABIA rose 0.7% to 13,734

ABU DHABI up 0.8% to 10,105

DUBAI added 0.9% to 3,720

QATAR lost 0.2% to 13,591

EGYPT rose 3.1% to 11,048

BAHRAIN was up 0.9% to 2,056

OMAN down 0.1% to 4,158

KUWAIT gained 0.5% to 9,308.

Comments

Comments are closed.