Saudi Arabia’s benchmark index closed above 10,000 points on Wednesday, October 28, rising 0.37%, or 37.02 points, to 10,023.47, while Abu Dhabi’s main index fell 1.6% as large banks came under selling pressure.
The Tadawul All Share Index (TASI) traded between 9,849.57 and 10,041.76 during the session. Turnover was about SR5.22 billion on 348.1 million shares, with 208 stocks rising, 55 falling and 10 unchanged, according to Saudi Exchange data.
Retail and consumer distribution stocks led sector gains, up 7.33%, followed by media, up 7.13%. Energy fell 0.24% and banks slipped 0.02%.
Bin Dawood Holding and Arabia Insurance each rose 10%, Miahona gained 9.91% and Nahdi Medical climbed 9.77% after reporting higher third-quarter profit. Saudi Research and Media Group rose 9.14%.
Qassim Cement led decliners, down 5.48%, followed by Saudi Ceramics, down 4.83%, and National Steel, down 4.11%. Al Rajhi Bank was the most traded stock by value at SR382.07 million and fell 0.82%, while Saudi Aramco eased 0.31%. The parallel Nomu market fell 1.22%.
In Abu Dhabi, the ADX General Index fell 1.6%, or 155.85 points, to 9,589.95, wiping about AED35 billion off market capitalization, which ended at AED2.509 trillion, Mubasher reported. Turnover was AED1.364 billion on 275 million shares.
Abu Dhabi Islamic Bank was the biggest loser, down 4.96% to AED21.84, while Abu Dhabi Commercial Bank fell 3.43% to AED16.32, International Holding Company slipped 2.24% to AED340 and First Abu Dhabi Bank lost 1.04% to AED19.04. Aldar Properties bucked the trend, rising 3.26% to AED7.90 on the session’s highest turnover of about AED244.3 million.
Dubai’s DFM General Index fell 0.33%, or 19.42 points, to 5,845.01, on turnover of AED544.8 million. Salama was the top loser, down 4.82%, and Emirates NBD fell 1.04% to AED30.30, while Mashreq rose 3% to AED309 and Air Arabia gained 0.94% to AED5.35. Emaar Properties eased 0.34% to AED11.48.
Vijay Valecha, chief market analyst at Century Financial, said in a note that oil price moves and uncertainty over the US Federal Reserve’s rate path weighed on sentiment in the UAE.
Boursa Kuwait’s main index fell 0.69%, or 58.83 points, to 8,490.40, on turnover of KD98.3 million, the Qatar News Agency reported. The Premier Market index fell 0.85% while the Main Market index rose 0.13%.
The Muscat Stock Exchange’s MSX 30 index rose 0.40%, or 29.3 points, to 7,377.07, with turnover up 35.5% to OMR95.84 million, the Oman News Agency reported. Non-Omani investors were net sellers of OMR1.5 million.
