Saudi markets watched

11/06/2015 18:36 AST

Investors would closely watch the Saudi market as it opens for Qualified foreign investors next week.

The Tadawul All Share index ended 0.24 per cent lower at 9,518.38 due to weak crude prices.

Saudi Basic Industries ended 0.32 per cent lower at 103.25 Saudi Riyals, while Alinma Bank ended more than 1 per cent lower at 23.55 Saud Riyals.

Elsewhere in the Gulf, Qatar Exchange index ended 0.36 per cent higher at 11,879.56.

“Qatar market would see more consolidation until we see further improvement on the sentiment as far as the world cup issue is concerned,” Shabbir said.

Muscat Securities Exchange index ended 0.14 per cent higher at 0.14 per cent higher at 6,482.34. Kuwait Stock Exchange ended 0.32 per cent lower at 6,285.94.

Egypt’s benchmark slipped in trade as investors awaited a monthly meeting of the central bank to decide on the interest rates.

The $334 million (Dh1.23 billion) flotation of the Egyptian subsidiary of Dubai developer Emaar Properties may also be draining some liquidity from the market. The offer, now in its institutional stage, will open to retail investors next week.


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