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Markets

Most Gulf equities edge higher amid US-Iran nuclear talks

  • Saudi Arabia’s benchmark index finished 0.3% higher in a volatile session
Published February 23, 2026 Updated February 23, 2026 06:57pm
Photo: Reuters
Photo: Reuters
By

BANGALORE: Major Gulf stock markets edged higher on Monday as Iran and the U.S. prepared to hold a third round of nuclear talks, raising hopes the longtime adversaries could find a way to step back from direct confrontation.

Saudi Arabia’s benchmark index finished 0.3% higher in a volatile session, recovering slightly from a near 2% drop in the previous session. Al Rajhi Bank, the world’s largest Islamic lender, gained 1.3%, reversing some losses after a sharp 2.9% decline on Thursday, its worst in nearly five months.

Energy giant Saudi Aramco  advanced 1.1%. Trade sources reported that the company sold several shipments of ultra-light crude oil from its $100 billion Jafurah gas plant to U.S. firms and an Indian refiner, ahead of its first export later this month.

Dubai’s main share index climbed 1.8%, ending a two-day losing streak in a broad-based rally, led by a 3.7% gain in blue-chip developer Emaar Properties and a 2.9% leap in Emirates NBD Bank .

Emirates Central Cooling Systems Corporation climbed 2.3% after announcing a contract award for the design of its fifth district cooling plant in Dubai’s Business Bay.

A positive fourth-quarter earnings season, and the prospect of an easing in geopolitical tensions could strengthen investor sentiment, allowing markets to climb further, said Daniel Takieddine, Co-founder and CEO of Sky Links Capital Group.

In Abu Dhabi, the index gained 0.6%, following two consecutive sessions of profit-taking from record highs. Abu Dhabi Commercial Bank edged 0.4% higher, while Alpha Dhabi Holding climbed over 2%.

Qatar’s benchmark rose 1.1%, marking its strongest one-day gain in nearly a month, supported by banking stocks. Qatar National Bank , the largest lender in the region, climbed 2.2%, its best daily performance since mid-October.

Outside the Gulf, Egypt’s blue-chip index climbed 2.6% with all sectors closing in the green, buoyed by optimism after the International Monetary Fund said its board would meet on February 25 to review Egypt’s Extended Fund Facility programme, a move that could unlock $2.3 billion in disbursements.

Commercial International Bank , Egypt’s leading private lender, rose 3.3%, while Talaat Moustafa Group jumped 2.7%. The real estate developer posted a 43% jump in full-year profits and was promoted to the Mid Cap Segment within the FTSE Russell Global Equity Index Series.

Saudi Arabia

 rose 0.3% to 10,984

Abu Dhabi

 advanced 0.6% to 10,639

Dubai

 gained 1.8% to 6,711

Qatar

 climbed 1.1% to 11,282

Egypt

 jumped 2.6% to 50,870

Bahrain

 shed 0.2% to 2,058

Oman

 eased 0.6% to 7,177

Kuwait

 added 0.4% to 9,235

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