Mubasher: Five GCC stock exchanged rose on Wednesday, topped by Kuwait bourse, while two markets were in the red zone.
Kuwait Stock Exchange rose by 0.51%, followed by Dubai Financial Market (+0.49%), then Qatar Stock Exchange (+0.36%) and Muscat Securities Market (+0.28%). Bahrain Bourse tailed the list with a rise of 0.21%.
Meanwhile, Abu Dhabi Securities Exchange (ADX) fell by 0.47%, followed by Saudi Stock Exchange that drifted 0.35% lower.
ADX saw a negative performance on Wednesday after nine sessions of rise, weighed by profit-taking and decline of banks and telecom stocks. The general index declined 0.47% or 20.02 points to reach 4,276.14 points.
DFM closed at a rise for the second session in a row on Wednesday, backed mainly by Arabtec Holding, in addition to Dubai Islamic Bank (DIB) and National Bank of Abu Dhabi (NBAD). The general index rose 0.49% or 15.4 points to reach 3,150.25 points.
Tadawul) continued its bear run to the second straight day, shedding 0.35% or 24 points on Wednesday to close at 6,906 points. The market was pressured by petrochemical industries sector that lost 2.9% after giant firm SABIC announced that profitability would be hurt by the kingdom’s decision to raise energy prices.
