AIRLINK 170.57 Decreased By ▼ -2.58 (-1.49%)
BOP 11.18 Increased By ▲ 0.53 (4.98%)
CNERGY 8.41 Decreased By ▼ -0.11 (-1.29%)
CPHL 99.73 Increased By ▲ 2.27 (2.33%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.15 Decreased By ▼ -0.27 (-1.75%)
FLYNG 27.55 Decreased By ▼ -0.58 (-2.06%)
HUBC 137.78 Decreased By ▼ -1.13 (-0.81%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.54 No Change ▼ 0.00 (0%)
KOSM 5.36 Decreased By ▼ -0.19 (-3.42%)
MLCF 62.40 Increased By ▲ 0.14 (0.22%)
OGDC 212.16 Decreased By ▼ -2.59 (-1.21%)
PACE 5.42 Decreased By ▼ -0.13 (-2.34%)
PAEL 47.18 Increased By ▲ 2.32 (5.17%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.36 Decreased By ▼ -0.38 (-3.54%)
POWER 12.33 Increased By ▲ 0.07 (0.57%)
PPL 169.60 Decreased By ▼ -4.27 (-2.46%)
PRL 35.85 Decreased By ▼ -0.37 (-1.02%)
PTC 23.09 Decreased By ▼ -0.47 (-1.99%)
SEARL 96.26 Increased By ▲ 0.95 (1%)
SSGC 39.52 Increased By ▲ 0.39 (1%)
SYM 13.84 Decreased By ▼ -0.18 (-1.28%)
TELE 7.15 Decreased By ▼ -0.08 (-1.11%)
TPLP 10.03 Decreased By ▼ -0.26 (-2.53%)
TRG 63.48 Decreased By ▼ -1.20 (-1.86%)
WAVESAPP 9.99 Decreased By ▼ -0.05 (-0.5%)
WTL 1.31 Decreased By ▼ -0.02 (-1.5%)
YOUW 3.66 Decreased By ▼ -0.04 (-1.08%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)

Stock markets in the Gulf were mixed in early trading on Tuesday, as investors awaited a key US inflation reading and the Federal Reserve’s policy decision this week.

Dubai’s benchmark stock index bounced back from the previous session of losses and rose 1%, with most sectors in the positive territory.

Emirates NBD advanced 1.9% and Emaar Properties gained 1.1%.

Among other gainers, Takaful Emarat climbed 4.6% after the loss-making insurer announced on Monday a series of strategic measures to enhance its financial position, ensuring long-term business stability.

Gulf markets end mixed; Egypt snaps losing streak

Saudi Arabia’s benchmark stock index was up 0.2%, with most of its constituents posting gains.

Saudi National Bank, the kingdom’s largest lender, added 0.7% and Saudi Chemical Holding climbed 7.8%.

However, ACWA Power slipped 3%. The utility firm, ACWA said it planned to raise 7.125 billion riyals ($1.90 billion) through a rights issue.

The Qatari benchmark index was up 0.2%, helped by a 0.6% rise in Qatar National Bank, the region’s largest lender, and a 1.5% gain in Qatar’s Ooredo.

The Abu Dhabi benchmark index fell marginally with Abu Dhabi Commercial Bank sliding 1%, while Abu Dhabi National Energy rose 1.1%.

The power and water utility firm, TAQA, said it ended discussions on a potential cooperation agreement with Criteria Caixa and a possible acquisition of shares in Naturgy from CVC and GIP.

Investors are now waiting for the US consumer price index data for May and the Fed’s policy decision on Wednesday.

The Fed is expected to hold rates steady and the focus will be on whether policymakers tweak their projections for rate cuts this year.

Most Gulf currencies are pegged to the dollar, and any US monetary policy change is usually followed by Saudi Arabia, the United Arab Emirates and Qatar.

Comments

Comments are closed.