Most of the Gulf stock exchanges rose… and the “Egyptian” stopped the series of losses


Most of the Gulf stock exchanges rose yesterday, while the Dubai index was negatively affected by the performance of the real estate sector, while the Egyptian market cut a series of losses that extended for three sessions, to close 0.7 percent higher.
According to “Reuters”, the Abu Dhabi index rose 0.3 percent to 6,623 points, as “Etisalat” rose 0.7 percent and “Aldar Properties” jumped 1.9 percent. The “Abu Dhabi Commercial” share increased by 1 per cent, while the “First Abu Dhabi” share decreased by 0.35 per cent.
The data showed last Thursday that the non-oil private sector in the UAE grew for the sixth consecutive month in May, although at a slightly slower pace than in April, while employment contracted for the fourth consecutive month. The Dubai index fell 0.1 percent to 2821 points due to the decline in the “DAMAC Properties” share of 8.6 percent and the decline in the shares of Emirates NBD, the emirate’s largest bank, 1.1 percent and “Union Properties” 0.71 percent. But the leading “Emaar Properties” share increased 0.3 percent after announcing a 250 percent jump in real estate sales in Dubai in the first five months of 2021. The Corona virus crisis ravaged the Emirates last year, as a result of the shock of low oil prices and the severe impact of the pandemic on sectors of the economy Non-oil like tourism.
The Qatari index lost 0.1 percent to 10,739 points, with shares of “Industry Qatar” down 0.8 percent and Qatar Islamic Bank 0.6 percent. The session witnessed a decline in three sectors, led by communications, followed by banks, financial services, and merchandise, while the insurance, transportation, and real estate sectors rose, and the industry was stable.
The Bahrain index rose 0.2 percent to 1542 points. The Muscat index rose 0.8 percent to 3,966 points. The Kuwait index rose 0.1 percent to 6,809 points.
In Cairo, the main index of the Egyptian Stock Exchange closed up 0.7 percent to 10,122 points, after losses for three sessions, as El Sewedy Electric rose 4.3 percent and EFG Hermes 2.7 percent.
The market capital fell during yesterday’s session by 9.3 billion pounds, to close at 639.157 billion pounds.
Transactions of Arab and foreign investors tended to sell with a net of 505.79 thousand and 17.92 million pounds, respectively, while Egyptians tended to buy with a net of 18.42 million pounds.
During yesterday’s trading, the value of trading on listed shares amounted to 1.27 billion pounds, through 499.99 million shares, through 51.65 thousand deals.


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