Stock markets in United Arab Emirates closed lower on Friday for a second consecutive session as investors remained cautious amid the volatile energy market.
TAQA grabs investors attention after posting robust first-quarter numbers Abu Dhabi and Dubai stocks traded upward for a fourth straight day in early trades extending the rally. Image Credit: AFP
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Dubai: Abu Dhabi and Dubai stocks traded upward for a fourth straight day in early trades extending the rally triggered by the expectations-beating corporate results for the first quarter.
Abu Dhabi Securities Exchange ticked up 0.1 per cent marking its fourth straight gain that has placed the index on rebounding path after ending two back-to-back weeks with negative growth. The gauge s rise every day this week has been led by robust first-quarter results.
Middle EastMIDEAST STOCKS Major Gulf markets end mixed as petchems boost Qatar
Ateeq Shariff
4 minutes read
Major stock markets in the Gulf closed mixed on Tuesday, with petrochemical shares boosting the Qatari index.
In Qatar, the benchmark (.QSI) rose 0.6%, led by a 2.9% increase in Industries Qatar (IQCD.QA), extending gains from the previous session when the petrochemical maker reported a higher net profit for the quarter ended March 31.
Mesaieed Petrochemical (MPHC.QA) jumped 4.2%, ahead of its first-quarter earnings announcement.
Saudi Arabia s benchmark index (.TASI) finished 0.4% higher, with Dr Sulaiman Al-Habib Medical Services (4013.SE) advancing 3.6% and Saudi National Bank (SNB) (1180.SE) rising 1.3%.