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– The main stocks of banks and petrochemical companies propelled the Saudi Stock Exchange on Tuesday, while the Qatar Stock Exchange continued its recovery.
An information screen on the shares of some companies on the Saudi stock exchange. [Reuters]
The main index of the Saudi market, the largest in the region, closed down 0.2%. Al Rajhi Bank and Saudi Basic Industries Corp. (SABIC) fell by 0.5% each.
Riyad Bank also fell by 1.1% and SABB Bank by 1.6%.
Investors were wary of valuations of large companies The Saudi market has risen in recent months, after the index has jumped nearly 15% since the beginning of the year.
Banks also experienced a decline in deposits in their second-quarter financial results announced in the last two weeks. Reduces the risk of a financing crisis
The Dubai Market Index closed down 0.3% following the 1% decline in the Dubai Islamic Bank, but the l. Abu Dhabi index ended up 0.3%, offsetting early losses
A Reuters poll showed Tuesday a confidence in UAE fund managers.
The index of the Qatar Stock Exchange rose 1.9%, continuing to recover from its losses from the previous trading session after recording a 60% decline in its net profit in the second quarter.
The weak performance of shares in the banking sector The Kuwait Stock Exchange fell 1.3%, with a 2.4% decline for Kuwait Finance House
. The stock has risen 14% since the beginning of the year but has lost some of its gains in recent days.
– Saudi Arabia – The index fell 0.2 percent to 8295 points
– Dubai – The index fell 0.3 percent to 2.956 points.
– Abu Dhabi The index rose 0.3 percent to 4860 points.
– Qatar The index rose 1.8 percent to 9825 points.
– Kuwait The index fell 1.3 percent to 5297 points. [1965900] Bahrain – The index retreated 0.9% to 1,358 points.
– Sultanate of Oman The index rose 0.4% to 4337 points.
– Egypt The index rose 1.85% to 15,580 points.
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