• Kuwait's first index records the largest weekly loss in two months
• Qatar Stock Exchange Index records third consecutive weekly loss
• Dubai Financial Market Index records second consecutive weekly loss
• Saudi market index records weekly gains of more than 1%
Saudi market:
The main market index rose by about 0.7% in Thursday's session, recording its fourth consecutive daily gain, amid liquidity of nearly 8 billion riyals and the rise of 126 shares out of 234 listed companies.
SABIC shares continued their upward trajectory, rising 2.7% to their highest levels in 7 months, while ACWA Power shares rose by about 2% after the Capital Market Authority approved increasing the company’s capital by granting one share for every 500 shares.
In contrast, Addis Holding shares fell by more than 5% to their lowest levels in a month and a half after the company announced the suspension of five drilling rigs in Saudi Arabia.
Arabian Drilling Company shares fell by about 4% to their lowest levels in 7 months after the company announced that it was discussing its options with Aramco regarding suspending contracts for three offshore drilling rigs.
Over the week, the Saudi index rose by 1.1% to close above 12,700 points.
Egyptian Stock Exchange:
Egyptian indices closed with collective gains on Thursday, with market value rising to EGP 1.9 trillion amid a relative improvement in liquidity to EGP 3.2 billion.
The 30-share index rose by 2%, supported by gains in Talaat Moustafa and CIB shares by 5.3% and 1.3%, respectively.
The 70s index also rose by 1.8% to close at 6,480 points.
Thursday's session data showed that Egyptians recorded a net purchase of EGP 189 million, compared to net sales by Arabs and foreigners of EGP 139 and EGP 50 million, respectively.
Over the week, the 30-stock index rose 3.4%, posting its biggest weekly gain in a month. The 70-stock index rose 1.3%, snapping a five-week losing streak.
Gulf markets:
Qatar's stock market index rose 1.3% on Thursday, posting its highest daily gain in three months, helped by a 1.4% and 2.8% rise in Qatar National Bank and Industries Qatar, respectively.
Over the week, the Qatari index fell by 2.5%, recording its third consecutive weekly loss.
Kuwait's first index fell by 1.4% in Wednesday's session, recording its lowest closing in about two months, pressured by the decline in most of the leading stocks, knowing that Thursday is a holiday on the Kuwait Stock Exchange due to the parliamentary elections.
Over the week, the first index fell by 1.3%, recording the largest weekly loss in two months.
In Dubai, the general index declined on Friday’s session under pressure from the expiry of cash dividends for several stocks, including Salik and DEWA, ending the week down by about 0.3%, recording its second consecutive weekly loss.
