Stock Market Shares at Saudi Arabia’s market Tadawul posted gains Tuesday, the first day of trading after the Islamic holiday of Eid ul-Fitr.
The benchmark index Tasi gained 1.07 percent, finishing at 6, 373.61 points, driven by petrochemical and insurance firms. The world’s largest petrochemical group Sabic ended as the most liquid share, closing 2.29 percent higher at 89.5 Saudi riyals (23.86 U.S. dollars).
In Kuwait, the KSE Market or Price Index closed 1 percent higher at 6,825.1 points. As at all Gulf Arab stock markets, Kuwaiti banks outperformed the pack. Kuwait International Bank closed at a new year high at 0.285 Kuwaiti dinar (0.99 dollar).
Markets in the United Arab Emirates (UAE) ended on a mixed note. At the DFM, the local market of the sheikhdom of Dubai, most shares dipped slightly after the recent rally as investors booked profits. The market bellwether Emaar Properties ended 2.12 percent lower at 3.7 dirhams (1 dollar).
But Dubai’s international exchange Nasdaq Dubai saw port operator DP World gaining 4.49 percent to finish at 0.53 dollar. The entity’s shares still reap benefits from a recent accord between its parent company Dubai World and creditor banks to restructure 24.9 billion dollars of the conglomerate’s debt.