Most stock markets in the Gulf closed higher today, Sunday, with the Saudi index recording its highest level in nearly two years, against the backdrop of broad sector gains, while the Egyptian Stock Exchange continued its losses for the third session in a row.
- The Saudi index increased 2.6%, its largest increase in a day in almost a year, with gains for all stocks on the index.
The trading volume reached 53 billion riyals (14.1 billion dollars), while the shares traded amounted to one billion shares.
Shares of Al Rajhi Bank, the largest Islamic bank in the world, rose 3.7%.
Saudi Aramco shares also rose 1.8% on its first day of trading after a secondary offering of the company’s shares, which is expected to raise at least $11.2 billion.
The oil giant’s shares jumped 5.7% from the share price in the secondary offering.
- The Qatari index rose 0.4%, continuing its gains for the seventh session, which is the longest period of rise for the index in 6 months.
The index increased supported by gains in almost all sectors, as Industries Qatar shares rose 0.7%, and Qatar Gas Transport shares rose 2.4%.
- The Kuwait Stock Exchange closed its trading today, with an increase of 0.13%.
- The Muscat Stock Exchange “30” index closed today at a low level of 0.70%, compared to the last trading session.
And outside the Gulf region:
- The leading stock index in Egypt declined for the third session in a row, closing down 2.9%, with most sectors declining.
Commercial International Bank shares fell 2.8%, and Talaat Mostafa Group shares fell 4%.
