Qatar guides Gulf markets to greater margin as Kuwait sees drop

The Qatar stock market ended on a greater margin on April 7, pushed up by profits in communications, energy and finance stocks.

On the other hand, shares for the Kuwait market were at a two-month low, with industry and finance sectors trailing margins the most for the country. 

The benchmark index for Qatar was higher on a second straight session, rising 1 per cent higher. About all sectors remained in the green. 

While Qatar Gas Transport progressed 1.9 per cent higher, Ooredoo advanced  3.6 per cent respectively. The region’s largest lender Qatar National Bank rose marginally by 0.7 per cent.

The benchmark index in Kuwait was down by 1.3 per cent, closing at 7,873 which marked the lowest in two months. Most sectors on the index were in negative territory, with industry and finance leading the losses.

The country’s largest lender National Bank of Kuwait went down by 2.3 per cent as Kuwait Finance House dipped 1.5 per cent.

Other companies who were making losses were Agility Public Warehousing and Gulf Bank, which dropped 3 per cent and 3.6 per cent respectively.

Outside the Gulf region, Egypt's blue-chip index retreated 1.2 per cent after two consecutive session of gains with a majority of the sectors in the red.

Talaat Mostafa went down 6.6 per cent, while Commercial International Bank dipped by 1.5 per cent.

(With Reuters Inputs)