AIRLINK 169.45 Decreased By ▼ -1.12 (-0.66%)
BOP 11.29 Increased By ▲ 0.11 (0.98%)
CNERGY 8.55 Increased By ▲ 0.14 (1.66%)
CPHL 99.80 Increased By ▲ 0.07 (0.07%)
FCCL 46.26 Decreased By ▼ -0.34 (-0.73%)
FFL 15.42 Increased By ▲ 0.27 (1.78%)
FLYNG 27.99 Increased By ▲ 0.44 (1.6%)
HUBC 142.85 Increased By ▲ 5.07 (3.68%)
HUMNL 12.91 Decreased By ▼ -0.01 (-0.08%)
KEL 4.60 Increased By ▲ 0.06 (1.32%)
KOSM 5.33 Decreased By ▼ -0.03 (-0.56%)
MLCF 62.70 Increased By ▲ 0.30 (0.48%)
OGDC 211.60 Decreased By ▼ -0.56 (-0.26%)
PACE 5.42 No Change ▼ 0.00 (0%)
PAEL 46.38 Decreased By ▼ -0.80 (-1.7%)
PIAHCLA 18.16 Decreased By ▼ -0.32 (-1.73%)
PIBTL 10.90 Increased By ▲ 0.54 (5.21%)
POWER 12.20 Decreased By ▼ -0.13 (-1.05%)
PPL 171.80 Increased By ▲ 2.20 (1.3%)
PRL 35.98 Increased By ▲ 0.13 (0.36%)
PTC 23.17 Increased By ▲ 0.08 (0.35%)
SEARL 96.67 Increased By ▲ 0.41 (0.43%)
SSGC 41.18 Increased By ▲ 1.66 (4.2%)
SYM 13.93 Increased By ▲ 0.09 (0.65%)
TELE 7.15 No Change ▼ 0.00 (0%)
TPLP 10.03 No Change ▼ 0.00 (0%)
TRG 63.36 Decreased By ▼ -0.12 (-0.19%)
WAVESAPP 10.10 Increased By ▲ 0.11 (1.1%)
WTL 1.31 No Change ▼ 0.00 (0%)
YOUW 3.64 Decreased By ▼ -0.02 (-0.55%)
BR100 12,383 Increased By 77.6 (0.63%)
BR30 37,761 Increased By 346 (0.92%)
KSE100 115,701 Increased By 847.8 (0.74%)
KSE30 35,474 Increased By 256.5 (0.73%)

Most stock markets in the Gulf ended lower on Thursday in the absence of fresh factors, with the Saudi index bucking the trend to close higher.

Saudi Arabia’s benchmark index edged 0.2% higher, led by a 3.5% rise in Al Rajhi Bank and a 3.7% increase in Elm Company.

The Saudi bourse continued its upward trend, supported by robust fundamentals and positive growth prospects as investors eagerly await the upcoming fourth-quarter earnings announcements, said George Pavel, General Manager at Naga.com.

Oil prices - a catalyst for the Gulf’s financial markets - rose as investors returned for the first trading day of the new year with an optimistic eye on China’s economy and fuel demand after a pledge by President Xi Jinping to promote growth.

Dubai’s main share index fell 0.1%, hit by a 2.1% fall in top lender Emirates NBD.

The Abu Dhabi index - which concluded 2024 in negative territory - dropped 1% in its first trade of the year, weighed down by a 0.6% fall in International Holding Co (IHC).

Most Gulf markets wrap up 2024 with sparse gains; Dubai stands out

Separately, Abu Dhabi’s Mubadala Investment Company accounted for about 20% of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia’s wealth fund amid a surge in spending from Gulf countries.

Outside the Gulf, Egypt’s blue-chip index advanced 1.1%, as most of its constituents were in positive territory including Commercial International Bank, which was up 0.8%.

Markets in Qatar and Kuwait remained closed.

-------------------------------------
 SAUDI ARABIA    rose 0.2% to 12,103
 Dubai           fell 0.1% to 5,153
 Abu Dhabi       lost 1% to 9,322
 EGYPT           up 1.1% to 30,060
 BAHRAIN         eased 0.3% to 1,979
 OMAN            lost 0.1% to 4,573
-------------------------------------

Comments

200 characters