BENGALURU: Gulf stock markets ended mixed on Tuesday as renewed military action between the US and Iran weighed on investor sentiment, while Qatar’s index bucked the trend, supported by higher oil prices.
US President Donald Trump threatened further strikes against Iran on Monday following the first direct exchange of attacks in a month, escalating tensions in a conflict that had recently shifted into an economic standoff.
Saudi Arabia’s benchmark index fell 0.2 percent, pressured by real estate, communication and financial stocks.
Abu Dhabi’s benchmark index lost 0.3 percent, with most sectors ending lower. First Abu Dhabi Bank, the UAE’s largest lender, fell 1.8 percent, while Alpha Dhabi Holding slipped 0.9 percent.
Dubai’s main index was little changed, as losses in communication, consumer staples and finance offset gains in other sectors. Emirates Integrated Telecommunications fell 4.2 percent, while toll operator Salik gained 2.8 percent.
Qatar’s benchmark snapped a two-session losing streak to rise 0.5 percent, with most sectors advancing. Qatar Fuel Company climbed 4.1 percent, while Qatar National Bank, the region’s largest lender, added 1.1 percent.
Oil prices, a key catalyst for Gulf markets, rose 1.5 percent on concerns over supply disruptions, with Brent crude trading at USD91.83 a barrel by 1225 GMT.
Outside the Gulf, Egypt’s blue-chip index gained 1 percent, with most of its constituents advancing.
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