Page 49 - SALIK PR REPORT - MARCH 2024

3/26/24, 9:28 AM MIDEAST STOCKS-Most Gulf bourses dip in early trade; Dubai gains | Nasdaq
MIDEAST STOCKS-Most Gulf bourses dip in early trade; Dubai gains

Credit: REUTERS/CHRISTOPHER PIKE
March 25, 2024 — 04:27 am EDT
Written by Md Manzer Hussain for Reuters ->

By Md Manzer Hussain
March 25 (Reuters) - Most stock markets in the Gulf were down in early trade on Monday, tracking
Asian peers lower ahead of U.S. inflation data later this week.
Saudi Arabia's benchmark stock index .TASI fell 0.4%, dragged down by losses in most sectors, with
real estate company Jabal Omar Development 4250.SE falling 5.3% and Riyad Bank 1010.SE down
2.4%.

Al Rajhi Bank 1120.SE fell 1.4% as the world's largest Islamic lender was trading ex-dividend.
The Qatari benchmark index .QSI retreated 0.4%, weighed down by losses in most stocks, including
Gulf International Services GISS.QA, which fell 1.6%, and a 0.6% decline in the region's largest
lender Qatar National Bank QNBK.QA.
In Abu Dhabi, the benchmark stock index .FTFADGI eased 0.1%, with Abu Dhabi National Oil Co for
Distribution ADNOCDIST.AD down 1.0% and conglomerate International Holding
Co IHC.AD shedding 0.1%.
Dubai's benchmark stock index .DFMGI rose 0.3%, lifted by gains in industry, finance and
communication services sectors. Toll-road operator Salik Co SALIK.DU gained 1.4% and
Mashreqbank MASB.DU was up 4.7%.
However, the emirate's largest lender Emirates NBD ENBD.DU 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)
((MdManzer.Hussain@thomsonreuters.com))

https://www.nasdaq.com/articles/mideast-stocks-most-gulf-bourses-dip-in-early-trade-dubai-gains 1/2