The Last Candle (13 February 2018)

A look at the closing candles for Arab markets for 13 February 2018.
By Markets Chimp

2/13/18 10:47 PM

  • The EGX 30 failed to hold on rebounding on Tuesday. The index shed more than 1%, trading below support level 14,777. The index has seen significant losses, mostly visible in Commercial International Bank (EGX: COMI).
  • TASI slipped 0.18%, achieving marginal losses. With the market’s blue chips feeling exhausted, investors were short of motives to rush in with cash at this particular stage.
  • ADSMI was down 0.21% after notable gains yesterday. With trading volumes calming down slightly on Tuesday, losses were clear in banking and energy stocks. Meanwhile, DFMGI just gained for the first time after three consecutive sessions in the red territory. The index gained 0.80%, making it the only gainer amid other Arab indices on Tuesday. The market has witnessed notable gains in its transportation sector, particularly Aramex (DFM: ARMX) after it achieved better-than-expected earnings.
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  • Qatari stocks resumed their bumpy road towards the 9,000 level, failing to close above it, where the index closed down by 0.63%. Meanwhile, Kuwaiti market fell victim to selling pressures on Tuesday, retreating from its best level since 1 October 2017.

 

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