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Qatar’s stock index climbed 1.4 percent, its largest single-day rise since July 13 as local and regional funds were again net buyers, bourse data showed.
Commodity-linked shares were some of the top performers on Tuesday, with oil and drilling service provider Gulf International Services surging 9.1 percent, Reuters reported. The traded volume surged to 12 millions yesterday from the previous session’s 7 million and the value of shares increased to QR289m from QR178m.
Rising oil prices helped Middle East indexes eke out modest gains yesterday, though shares more exposed to foreign funds followed global markets lower, weighed down by a list of worries including North Korea.
Brent oil surged 3.8 percent overnight to settle at $59.02 a barrel after major producers said the global market was on its way to rebalancing, and crude held near that level yesterday. The Dubai index added 0.2 percent as stocks favoured by local day traders were the most active; builder Drake & Scull climbed 2.4 percent.
Rising tensions between North Korea and the United States hurt Egyptian shares which are most vulnerable to foreign fund flows; private equity company Qalaa Holdings dropped 5.7 percent.
The MSM30 Index closed the session at 5,000.48 points, down 0.14 per cent. The MSM Sharia Index declined 0.16 per cent to end at 706.19 points. Galfar Engineering was the most active in terms of volu
Times of Oman
UAE bourses remained sluggish on Tuesday even as a few stocks witnessed select buying due to specific fundamentals.
The Dubai Financial Market General Index closed 0.84 per cent lower at 3
Saudi Arabia’s finance ministry issued 7.22 billion riyals ($1.93 billion; Dh1.55 billion) of domestic sukuk in its monthly sale by re-opening an issue originally made last month, the ministry said o
EFG Hermes has revised its outlook for Saudi Arabia upwards to overweight status, ahead of the country’s anticipated inclusion in the MSCI and FTSE emerging market indexes, which will generate flows
A sluggish trend prevailed on the Muscat Securities Market with the general index shedding 6.89 points. The MSM 30 Index closed at 5,007.52 points.
The market turnover stood at OMR1.25 mil
Times of Oman