Saudi stocks bounce back, major Gulf markets end mixed

  • 11/23/2021
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Nov 23 (Reuters) - Saudi Arabian shares closed higher on Tuesday, snapping three straight sessions of losses, while major Gulf stock markets ended the day mixed. Saudi Arabia"s benchmark index (.TARSI) closed about 0.8% higher after three days of declines triggered by regional tensions with Yemen"s Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. read more Market-heavyweight Al Rjahi Bank (1120.SE) rose 2.1% and Saudi Arabian Mining (1211.SE) jumped 4.5%, while the oil giant Saudi Aramco (2222.SE) gained 1%. In Abu Dhabi, the index (.ADI) gained nearly 0.8% as Emirates Telecommunications Group (Etisalat)(ETISALAT.AD) increased 2.8% and International Holding Company (IHC.AD) rose 2%. Etisalat rose for a third straight day, riding on last week"s agreement to acquire Dubai-based grocery delivery platform elGrocer DMCC. The Dubai index (.DFMGI) fell 0.9% in its third straight day of decline, as property and financial shares weighed the most. Emaar Properties (EMAR.DU), which completed a merger with its shopping malls operator unit Emaar Malls, fell 2%, while lenders Dubai Islamic Bank and Emirates NBD (ENBD.DU) dropped 1.9% and 1.8%, respectively. The Qatari index (.QSI) closed 0.1% lower. Islamic lender Masraf Al Rayan (MARK.QA) led losses, falling 1.5%, while Industries Qatar (IQCD.QA)added 0.7%. Outside the Gulf, the Egyptian blue-chip index (.EGX30) edged up 0.1%. Real estate investor TMG Holding (TMGH.CA) and investment bank EFG Hermes Holdings (HRHO.CA) climbed 2.5% and 1.6%, respectively. However, the gains were capped by a 0.6% fall in the country"s largest lender Commercial International Bank Egypt (COMI.CA). SAUDI ARABIA (.TASI) rose 0.8% to 11,256 ABU DHABI (.ADI) added 0.8% to 8,407 DUBAI (.DFMGI) eased 0.9% to 3,144 QATAR (.QSI) was down 0.1% to 11,796 EGYPT (.EGX30) gained 0.1% to 11,369 BAHRAIN (.BAX) inched down 0.1% to 1,786 OMAN (.MSX30) down 0.3% to 4,051 KUWAIT (.BKP) lost 0.3% to 7,7775 Reporting by Maqsood Alam in Bengaluru; Editing by Ramakrishnan M.

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