AIRLINK 175.55 Decreased By ▼ -2.01 (-1.13%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.29 Increased By ▲ 0.12 (1.47%)
FCCL 47.23 Decreased By ▼ -0.09 (-0.19%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.31 Decreased By ▼ -0.04 (-0.15%)
HUBC 142.32 Decreased By ▼ -4.59 (-3.12%)
HUMNL 13.30 Decreased By ▼ -0.21 (-1.55%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 5.90 Decreased By ▼ -0.01 (-0.17%)
MLCF 61.80 Decreased By ▼ -0.22 (-0.35%)
OGDC 226.77 Decreased By ▼ -7.91 (-3.37%)
PACE 5.77 Decreased By ▼ -0.03 (-0.52%)
PAEL 44.80 Decreased By ▼ -1.61 (-3.47%)
PIAHCLA 17.88 Decreased By ▼ -0.24 (-1.32%)
PIBTL 10.47 Decreased By ▼ -0.10 (-0.95%)
POWER 12.02 Increased By ▲ 0.03 (0.25%)
PPL 185.92 Decreased By ▼ -5.88 (-3.07%)
PRL 37.16 Decreased By ▼ -0.16 (-0.43%)
PTC 24.05 Increased By ▲ 0.85 (3.66%)
SEARL 100.29 Decreased By ▼ -0.60 (-0.59%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 38.51 Decreased By ▼ -1.20 (-3.02%)
SYM 14.75 Decreased By ▼ -0.28 (-1.86%)
TELE 7.73 Decreased By ▼ -0.11 (-1.4%)
TPLP 11.03 Decreased By ▼ -0.08 (-0.72%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 10.97 Decreased By ▼ -0.38 (-3.35%)
WTL 1.35 Decreased By ▼ -0.01 (-0.74%)
YOUW 3.78 Increased By ▲ 0.01 (0.27%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

Most stock markets in the Gulf closed lower on Wednesday amid geopolitical tensions in the region, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut.

In the Middle East, fighting continued in the Gaza Strip between Israel and Hamas militants, displacing Palestinians, while there were few signs of a concrete breakthrough in ceasefire talks in Cairo. Over the weekend, Israel and Hezbollah bombarded each other with rockets and missiles across the Lebanese border.

United Nations aid operations in the Gaza Strip continued on Tuesday, a day after a senior U.N. official said humanitarian efforts had ground to a halt because new Israeli evacuation orders forced the shutdown of the main U.N. operations center.

Saudi Arabia’s benchmark index dropped 0.5%, with aluminium products Al Taiseer Group losing 1.9%, and Al Rajhi Bank declining 1.5%.

Dubai’s main share index was down 0.4%, with blue-chip developer Emaar Properties losing 1.5%.

In Abu Dhabi, the index dropped 0.5%.

Most Gulf markets ease on regional tensions

The Qatari index fell 0.3%, hit by a 0.6% decline in the Gulf’s biggest lender, Qatar National Bank QNBK.QA.

Market participants are looking forward to the release of the U.S. personal consumption expenditure (PCE) data, the Federal Reserve’s preferred measure of inflation, on Friday.

Traders have fully priced in a Federal Reserve easing for next month, with a 67% chance of a 25-basis-point cut and about a 33% chance of a bigger 50-bp reduction, according to the CME FedWatch tool.

Outside the Gulf, Egypt’s blue-chip index gained 1.1%, led by a 7.2% jump in tobacco monopoly Easter Company.

Egypt announced a new oil discovery in its Western Desert, the petroleum ministry said in a statement on Tuesday.

-----------------------------------------
 SAUDI ARABIA     fell 0.5% to 12,117
 ABU DHABI        lost 0.5% to 9,289
 DUBAI            dropped 0.4% to 4,324
 QATAR            down 0.5% to 10,137
 EGYPT            up 1.1% to 30,710
 BAHRAIN          advanced 1.6% to 1,958
 OMAN             rose 0.6% to 4,720
 KUWAIT           eased 0.3% to 7,820
-----------------------------------------

Comments

Comments are closed.