The Last Candle (28 January 2018)

A look at the closing candles for Arab markets for 28 January 2018.
By Markets Chimp

1/29/18 12:00 AM

  • EGX 30 reversed up, after four sessions of straight losses. The index gained 0.93%, up at 15,311, retreating from 15,338 which is the session's highest level. Most of the gains today were attributed to gains in Commercial International Bank (EGX: COMI), which surged nearly 1.95%. Most of the buying activities today were for foreign institutions.
  • TASI gained for its second session in a row. The index started off the week inching 0.22% higher on Sunday, patiently approaching levels of 2015. Today’s session was headlined by the release of Prince Walid bin Talal, which apparently called for a significant increase in Kingdom Holding (TDWL: 4280) market price of nearly 10%.
  • Both UAE indices were down today. The performance of both ADSMI and DFMGI has recently been notably featuring low trading activities and clear weakness over the market's own blue chips in the case of DFMGI. ADSMI was down by 0.25%, marking the first daily decline in eight sessions, profit-taking activities were obvious in the financial services sector. Meanwhile, DFMGI was down today only 0.13%.
  • Qatari index hit a stopper today, failing to continue a 5-session winning streak; the index went down by 0.51% with losses in its banking and real estate sector. Meanwhile, Kuwaiti market went down by 0.34%, marking the first red candle counted in five trading sessions.

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