AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
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%)

Dubai’s main share index closed higher on Friday, in line with oil prices, boosted by gains in real estate and industrial sector stocks while the Abu Dhabi index declined.

Dubai’s main market rose 0.4%, extending gains to the third session, lifted by a 1.5% surge in blue-chip developer Emaar Properties and a 1.9% jump in state-owned parking lot operator Parkin Company.

Among the gainers, investment bank Shuaa Capital gained 1.5% after the bank reached a settlement agreement with a key creditor as part of ongoing capital optimisation initiative.

However, Abu Dhabi’s benchmark index edged down 0.1%, snapping two sessions’ gains, dragged down by a 1.4% decline in UAE’s largest lender First Abu Dhabi Bank and a 0.9% loss in Emirates Telecom Group.

The Abu Dhabi stock market was relatively stable, continuing to trade within a three-week price range with potential support coming from an oil price recovery, said George Pavel, general manager at Naga.com Middle East.

Most Gulf markets track global shares higher on Fed rate cut bets

Dubai’s index logged 0.5% losses on a weekly basis, while Abu Dhabi closed flat, according to LSEG data.

However, Sharjah-based Dana Gas gained 1.4% after it received a $20 million payment in Egypt, and said it plans to reinvest the funds in Egypt as part of the consolidation agreement with its government.

Meanwhile, oil prices - a key catalyst for the Gulf’s financial market - drifted higher on supply jitters driven by newly added sanctions on Russia and Iran and hopes that Chinese stimulus measures could lift demand in the world’s No. 2 oil consumer.

Brent crude was up 0.78% to $73.41 a barrel by 1041 GMT.

Comments

200 characters