Saudi bourses falter on banks, Qatar ends losing streak as Industries gain


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Saudi bourses falter on banks, Qatar ends losing streak as Industries gain

On Sunday, the 18th of August 2019, almost all of the Middle East bourses had botched to ebb out the bears, while main indexes of Qatar and Egypt had been the gainers on Sunday’s (August 18th) market closure. Saudi main index had closed lower after facing off sharp downturns on a majority of its financials’ including large lenders, while Doha had halted its three-day-long losing streak followed by a robust rebound in industries after a better-than-anticipated first-half earnings’.

Saudi index wrapped up Sunday’s (August 18th) market with a loss of 0.3 percent, while Saudi British bank shed 1.3 percent and Samba Financial group shrugged off 1.3 per cent. Aside from that, Qatar stock index rose 1.7 percent after heavyweight Industries Qatar climbed 4.3 per cent after posting losses in six straight sessions, while adding that a fall for six consecutive sessions in a row helped Industries Qatar look more lucrative, a head of asset management at Amwal, Talal Samhouri said, “Industries Qatar (Qatar) fell significantly last week, making the valuation attractive despite poor results.

” Elsewhere in the Middle East, Abu Dhabi posted a loss of 0.3 percent, almost entirely prodded by a fall of First Abu Dhabi Bank by 0.8 percent, while Kuwait Stock exchange tumbled 1.7 percent after Kuwait Finance House had posted a sharp plunge of 2.2 percent.

Aside from that, on Sunday’s (August 18th) market wrap-up, Dubai and Oman ended flat-lined, while Bahrain fell by 0.3 percent and Egypt added 0.7 percent.