Gulf Stock Markets Close Lower Due to Geopolitical Conflicts and Monetary Policy Concerns
Stock markets in the Gulf region closed lower on Monday, primarily due to concerns about ongoing geopolitical conflicts in the region. Doubts surrounding the Federal Reserve’s monetary policy further exacerbated these concerns. The Saudi index saw a 0.1 percent decrease, with Al Rajhi Bank shares falling by 1 percent and SABIC Agricultural Nutrients shares dropping by 3.5 percent. The market index ended the session at 12,509 points, with trades totaling about 8.9 billion riyals.
Saudi Cable and Gulf Training shares led declines, dropping by 5% and trading at 75 riyals and 31.50 riyals, respectively. SABIC Nutrients shares hit a three-year low at 110.80 riyals, with losses reaching about 20% since the beginning of the year. Conversely, Saudi Aramco shares rose by less than 1% to 30.15 riyals, and Care shares increased by 2% to 191.20 riyals.
In the UAE, both the Dubai and Abu Dhabi markets closed down, with the Dubai market dropping by 0.16% and the Abu Dhabi market falling by 0.09%. The Qatari index fell by