Saudi Arabia’s benchmark Tadawul All Share Index (TASI) fell 1.7% on Tuesday, shedding 172 points to close at 9,952, its lowest close since April 2021, as most Gulf stock markets ended lower.
The declines came after Yemen’s Houthis claimed attacks on Saudi energy, airport and military targets on Monday. The group said it hit an Aramco site in Yanbu, the Shaybah oilfield and the airports in Riyadh and Abha. Saudi authorities did not immediately confirm the claims, Reuters reported.
Turnover on the Saudi exchange reached about SAR3.8 billion, according to Asharq Al-Awsat. The index traded between 9,941 and 10,116 points during the session and has lost about 5.1% since the start of the year.
Saudi Arabian Mining Company (Ma’aden) fell 4.7%, Reuters said. Saudi Aramco closed at SAR25.48 and Al Rajhi Bank dropped 1% to SAR60.15.
Yansab fell 7%. SABIC Agri-Nutrients and Bank Albilad each lost 3%, closing at SAR109.80 and SAR21.47, after both companies reported third-quarter results.
In Qatar, the main index closed down 34.24 points, or 0.40%, at 8,598.42, the Qatar News Agency reported. Reuters said it was the index’s lowest level in more than six years. Qatar National Bank, the Gulf’s largest lender, fell 0.7%.
Dubai’s main share index eased 0.3%, with Dubai Islamic Bank down 0.7%. The Abu Dhabi index rose 0.5%.
Oman’s MSX 30 index fell 80.6 points, or 1.06%, to 7,554.29, the Oman News Agency reported. Trading value rose 4.6% to RO51.6 million.
Brent crude futures rose to $111.75 a barrel, the highest since May, and were trading at $111.20 at 1120 GMT, up $1.65 or 1.5%, according to Reuters.
“The absence of diplomatic progress is fueling doubts over any quick de-escalation or improvement in regional security, and the uncertainty could keep risk appetite subdued in the near term,” said Ranim Turfa, head of research and market analysis for the Middle East and North Africa at brokerage Tickmill.
