Home Business News Mixed performances across GCC stock markets amid rising oil prices

Mixed performances across GCC stock markets amid rising oil prices

18th Mar 24 12:45 pm

The GCC stock markets showed mixed performances today, while oil market prices continued to rise, benefiting the overall sentiment and potentially aiding stocks. However, geopolitical tensions remain a concern.

The Saudi stock market saw a volatile trading session after a good performance last week and could be exposed to some price corrections. The market saw mixed performances in the banking sector as well as among other major stocks. However, the Saudi stock market could remain robust and bullish, with the potential to rise further supported by strong fundamentals.

The Dubai stock market continued to trade sideways overall and could face some uncertainty as it sees mixed performances among its major stocks. Despite these fluctuations, the Dubai stock market remained on an uptrend.

The Abu Dhabi stock market closed to the upside although it remains near its lowest levels for the year. The market could find support in improving oil prices. The addition of new stocks to the main indices has created some volatility.

The Qatari stock market was flat today, mirroring the performance of the last session. The banking sector was mostly negative, while other leading stocks like Ooredoo showed positive performance. The Qatari stock market could benefit from a rebound in natural gas prices.

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