AIRLINK 73.18 Increased By ▲ 0.38 (0.52%)
BOP 5.00 Decreased By ▼ -0.06 (-1.19%)
CNERGY 4.37 Increased By ▲ 0.04 (0.92%)
DFML 29.95 Decreased By ▼ -0.57 (-1.87%)
DGKC 91.39 Increased By ▲ 5.44 (6.33%)
FCCL 23.15 Increased By ▲ 0.80 (3.58%)
FFBL 33.50 Increased By ▲ 0.28 (0.84%)
FFL 9.92 Increased By ▲ 0.14 (1.43%)
GGL 10.35 Decreased By ▼ -0.05 (-0.48%)
HBL 113.01 Decreased By ▼ -0.61 (-0.54%)
HUBC 136.28 Increased By ▲ 0.08 (0.06%)
HUMNL 9.60 Decreased By ▼ -0.43 (-4.29%)
KEL 4.78 Increased By ▲ 0.12 (2.58%)
KOSM 4.72 Increased By ▲ 0.32 (7.27%)
MLCF 39.89 Increased By ▲ 1.54 (4.02%)
OGDC 133.90 Increased By ▲ 0.50 (0.37%)
PAEL 28.85 Increased By ▲ 1.45 (5.29%)
PIAA 25.00 Increased By ▲ 0.24 (0.97%)
PIBTL 6.94 Increased By ▲ 0.39 (5.95%)
PPL 122.40 Increased By ▲ 1.19 (0.98%)
PRL 27.40 Increased By ▲ 0.25 (0.92%)
PTC 14.80 Increased By ▲ 0.91 (6.55%)
SEARL 60.40 No Change ▼ 0.00 (0%)
SNGP 70.29 Increased By ▲ 1.76 (2.57%)
SSGC 10.42 Increased By ▲ 0.09 (0.87%)
TELE 8.85 Decreased By ▼ -0.20 (-2.21%)
TPLP 11.32 Increased By ▲ 0.06 (0.53%)
TRG 66.57 Increased By ▲ 0.87 (1.32%)
UNITY 25.20 Decreased By ▼ -0.05 (-0.2%)
WTL 1.55 Increased By ▲ 0.05 (3.33%)
BR100 7,674 Increased By 40.1 (0.53%)
BR30 25,457 Increased By 285.1 (1.13%)
KSE100 73,086 Increased By 427.5 (0.59%)
KSE30 23,427 Increased By 44.5 (0.19%)

Most Middle Eastern stocks were pressured on Sunday by the slump in US shares and oil prices due to concerns that a spreading virus from China would curb travel and hurt economic demand.

The ability of the new coronavirus to spread is strengthening and infections could continue to rise, China's National Health Commission said on Sunday, with almost 2,000 people in China infected and 56 killed by the disease.

Containment efforts, which have included transportation and travel curbs and the cancellation of big events, will be intensified, China's National Health Commission Minister Ma Xiaowei said.

On Friday, Brent crude fell $1.35, or 2.2%, to $60.69 a barrel.

Saudi's benchmark index ended down 0.7%, with Al Rajhi Bank and Saudi Basic Industries shedding 0.6% and 1.2%, respectively.

Saudi Kayan Petrochemical plunged 4.3%, its biggest intraday fall since April. On Thursday, the firm reported that its fourth-quarter loss widened to 167.4 million riyals ($44.63 million).

Saudi Arabia Fertilizers Co (SAFCO), which posted a 40.5% decline in fourth-quarter profit, dropped 2.3%.

However, National Medical Care leapt 4.2% after announcing a higher dividend of 2 riyal per share for 2019.

The Dubai index eased 0.6%, hurt by a 1.4% decline in Dubai Islamic Bank and a 0.7% fall in Emirates NBD Bank.

Qatar's index fell 0.4%. Mesaieed Petrochemical declined 1.7%, while Doha Bank tumbled 2.5%, to become the top loser.

On Sunday, the latter was scheduled to report full-year earnings, which have been delayed until Feb. 02.

In Abu Dhabi, the index slipped 0.3% as First Abu Dhabi Bank retreated 0.3% and Emirates Telecommunications slipped 0.2%.

The index saw some support from Sharjah Islamic Bank, which gained more than 3%, as the lender reported a higher annual profit.

Egypt's blue-chip index edged down 0.1%, with Sixth of October Development and Investment losing 2.3% and Cleopatra Hospital sliding 2.6%.

Copyright Reuters, 2020

Comments

Comments are closed.