DUBAI (Reuters) – Shut down Major stock markets in the Gulf On the other hand, on Sunday, Qatar incurred sharp losses after strong gains in the previous session when it canceled a ceiling on foreign ownership, while the leading stocks strengthened the main Egyptian index.
The Saudi benchmark index ended today’s transactions, up 0.6 percent to 10048 points, extending its gains from the previous session, with Saudi Telecom shares rising 1.7 percent, and Al-Rajhi Bank 0.3 percent. The Abu Dhabi index fell 0.1 percent to 6124 points, while the Dubai market index rose 0.1 percent, supported by an increase of 1.8 percent in Emaar Properties. Emaar, the largest listed real estate developer in Dubai, starts trading without the right to dividends from Tuesday. The managing director of Emaar Properties said this month that the company’s sales reached 6 billion dirhams in the first quarter of the year, up from 2.5 billion a year ago.
In Bahrain, the index rose 0.1 percent to 1478 points, while in the Muscat market the index fell 0.7 percent to 3684 points, and the Kuwait Stock Exchange index fell 0.2 percent to 6,520 points. The Qatari index fell 1.3% to 10,761 points, as the share of the Petrochemical Industries Qatar Company lost 2.3%, and the Commercial Bank of Qatar fell 3.6%. In the previous session, the index witnessed its biggest gains in more than a year after the Council of Ministers approved allowing non-Qatari investors to own up to 100 percent of the capital of listed companies. The Cabinet also decided to maintain the liquidity support provided by the Central Bank to local banks as necessary while the country faces a second wave of Coronavirus infections.
Outside the Gulf, the leading Egyptian index advanced 2.1 percent to 10358 points, with 25 of its 30 shares rising, and the gains included Commercial International Bank, the largest listed bank, and it rose 3.2 percent. Stock market data showed that foreign investors were net buyers of shares.
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