Saudi stock market falls in early trade as Dubai, Abu Dhabi bourses rise

Saudi Arabia’s stock market on Thursday slipped in early trade as investors continued to book profits after gains at the start of the week, while Dubai’s bourse saw support from financials.

Saudi Arabia’s main index went down 0.5 percent, with National Commercial Bank down 0.9 percent, Al Rajhi Bank 0.6 percent lower, and Arab Bank dropping 1.0 percent.

The index closed lower on Wednesday, ending a three day winning streak.

In the United Arab Emirates (UAE), the Dubai index was up 0.6 percent, with the exchange’s biggest bank Emirates NBD 3.7 percent higher and developer Arabtec up 1.6 percent. Air Arabia, the UAE’s only listed airline, was down 1.0 percent and telecoms firm du was 0.6 percent lower.

In Abu Dhabi, the index was up 0.3 percent, with First Abu Dhabi Bank up 0.7 percent, Dana Gas up 0.9 percent, and Abu Dhabi Commercial Bank (ADCB) 0.4 percent higher.

The Qatar index was up 0.1 percent.

Source: Reuters

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