Page 44 - SALIK PR REPORT - MARCH 2024

3/26/24, 9:27 AM Mideast Stocks: Most Gulf bourses dip in early trade; Dubai gains

The Qatari benchmark index retreated 0.4%, weighed down by losses in most stocks, including Gulf

International Services, which fell 1.6%, and a 0.6% decline in the region's largest lender Qatar
National Bank.

In Abu Dhabi, the benchmark stock index eased 0.1%, with Abu Dhabi National Oil Co for Distribution
down 1.0% and conglomerate International Holding Co shedding 0.1%.

Dubai's benchmark stock index rose 0.3%, lifted by gains in industry, finance and communication

services sectors. Toll-road operator Salik Co gained 1.4% and Mashreqbank was up 4.7%.

However, the emirate's largest lender Emirates NBD lost 0.9%.

The main data event of the week will be U.S. core personal consumption expenditure (PCE) price
index on Friday which is seen rising 0.3% in February, keeping the annual pace at 2.8%. Anything
higher would be taken as a setback to hopes for a Federal Reserve rate cut in June.

Most Gulf currencies are pegged to the dollar.

(Reporting by Md Manzer Hussain; Editing by Shounak Dasgupta)

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