The stock markets in the Gulf region closed lower on Monday, primarily due to geopolitical conflicts and concerns about the Federal Reserve’s monetary policy. In Saudi Arabia, the 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. Meanwhile, Saudi Cable and Gulf Training shares led declines, dropping by 5% and trading at 75 riyals and 31.50 riyals, respectively.
In contrast, Saudi Aramco shares rose by less than 1% to 30.15 riyals, and Care shares increased by 2% to 191.20 riyals. The UAE’s markets also closed down, with the Dubai market dropping by 0.16% and the Abu Dhabi market falling by 0.09%. The Qatari index fell by 1.3%, with Qatar National Bank shares dropping by 2.1%. On the other hand, the Muscat market saw a slight decrease of 0.13%, while Bahrain’s market fell by only 0.03%.
Outside the Gulf region, Egypt’s leading stocks index fell by an impressive amount of approximately -4%, mainly due to a sharp drop of -7% in shares of Talaat Mostafa Holding Group which is a leading player in real estate development industry in Egypt . These fluctuations in the stock markets reflect ongoing uncertainties and concerns across different regions globally which are impacting investors confidence levels .
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