Most of the stock markets in the Gulf opened a decrease on Wednesday due to the profits of dull companies, although the Saudi index rose on strong gains by Al -Raji Bank.
Dubai’s main stock index decreased by 1 %, as it decreased by 8.6 % in senior UAE lenders NBD (ENBD), in its course to spread the largest decrease within the day within about five years.
ENBD recorded the fourth quarter of 4 billion Deirham ($ 1.09 billion), marginally less than the previous year.
The lender was also absent the estimates of analysts.
The Abu Dhabi Index decreased by 0.3 %, decreased by 1.7 % in Abu Dhabi Islamic Bank, after a decrease in the net profit of the lender.
The lender, which is compatible with Sharia, recorded a net profit of 1.47 billion Deirham, a decrease from 1.50 billion Deirham a year ago.
However, the Saudi stage index gained 0.3 %, with a help of 3.3 % in Al -Raji Bank after the lender recorded an increase of 18.7 % in its net profit to 19.72 billion riyals ($ 5.26 billion) for 2024.
In a separate profile, Rajhi Bank also suggested distributing cash dividends in the second half of 1.46 RIYAL, an increase of 1.15 RIYAL a year ago.
Elsewhere, the Saudi Telecom Company added 0.7 %, a day after the company said it had won a 32.64 billion riyals contract from a government entity to build and provide communications infrastructure services.
In Qatar, the index lost 0.4 %, with a decrease in gas transfer in Qatar (Nakilat) by 2.4 %, in less annual profits. Nakilat – the world’s largest LNG charger (LNG) – has recorded a clear profit of 1.64 billion riyals (449.89 million dollars), compared to 1.56 billion riyals a year ago.
