Dubai’s main share index rose 0.43 percent to 5,859.94 points on Wednesday, lifted by bank stocks, while benchmarks in Abu Dhabi, Kuwait and Saudi Arabia closed lower.
Emirates NBD gained 1.3 percent to AED32 and Dubai Islamic Bank climbed 1.98 percent to AED7.19, according to closing data reported by the Arabic daily Al Khaleej. Air Arabia rose 2.1 percent to AED4.85 and Emaar Properties added 0.35 percent to AED11.52.
UAE banks are in the middle of reporting nine-month results. Emirates NBD reported this week that its profit for the period rose 2 percent to AED19.3 billion.
In Abu Dhabi, the FTSE ADX General Index fell 0.59 percent to 9,771.2 points. First Abu Dhabi Bank dropped 1.14 percent to AED19.10, Abu Dhabi Islamic Bank slipped 0.78 percent to AED22.62 and ADNOC Gas lost 1.24 percent to AED3.19. ADNOC Drilling rose 1.97 percent to AED5.70.
Kuwait’s All-Share index fell 0.82 percent, or 69.28 points, to 8,330 points, with trading worth KD59.14 million. The Premier Market index lost 0.69 percent to 8,765.87 points and the Main 50 index dropped 2.36 percent to 9,099.84 points.
Saudi Arabia’s Tadawul All Share Index also closed lower, ending below Tuesday’s close of 9,952.06 points, which had been its weakest finish since April 2021.
During Wednesday’s session, 41 companies and real estate funds on the Saudi main market traded at their lowest prices since listing, data compiled by Argaam showed. They included bourse operator Saudi Tadawul Group, which fell as low as SR108.10. Another 49 companies, including SABIC, hit 52-week lows.
Saudi shares have come under pressure in recent sessions after Yemen’s Houthis claimed attacks on Saudi energy, airport and military sites.
Qatar’s QE index bucked the trend, rising 0.52 percent, or 45.05 points, to 8,643.47 points. It had closed on Tuesday at its lowest level in more than six years.
Telecommunications shares led the Qatari gains with a 1.77 percent rise. Al Meera was the top gainer, up 2.84 percent, while Qatar and Oman Investment fell 4.62 percent. Trading value fell to QR338.15 million from about QR418.4 million in the previous session.
