March 29, 2023

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Abu Dhabi market index rises amid mixed Gulf markets

Abu Dhabi market index rises amid mixed Gulf markets

Dubai (Reuters)

Yesterday, the Abu Dhabi Securities Exchange Index, the Gulf Cooperation Council, topped the stock market in countries whose indices closed mixed at the close of trading.
The Abu Dhabi market index was up 0.7 percent at 8,454 points, while blue-chip stocks such as Alpha Abu Dhabi Holding were up 2.4 percent and Emirates Telecommunications Group (Etisalat) was up 1 percent.
The Dubai Financial Market Index was up 0.4 per cent at 3,170 points, with shares of leading Emaar Properties up one per cent and Dubai Islamic Bank up 0.8 per cent. The Qatari stock market index was up 11,791 points, while the Muscat market index was up 0.3 percent at 4,118 points.
In Riyadh, the Saudi market recorded its fourth weekly loss of five and its biggest decline since October 2020, ending yesterday’s trading with gains recorded at the start of the session.
The Saudi index was down 0.6 percent at 11,299 points, ending two sessions of gaining. Al-Raji Bank fell 0.4 percent and oil major Aramco fell 1.1 percent. Bahrain Stock Exchange index fell 0.7 percent to 1779 points. The Kuwaiti stock market index fell 0.2 percent to 7,720 points. Outside the Gulf, the blue-chip index rose 0.7 percent to 11,431 points on the Egyptian Stock Exchange, while shares of Talat Moustaba Holding Group rose 6.4 percent. The Egyptian government’s report quoted the Minister of Planning on Wednesday as saying that the Egyptian economy grew by 9.8 percent in the first quarter of the 2021-2022 fiscal year, which began in July, compared to 0.7 percent in the same period last year.

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