Saudi Arabia’s benchmark index jumped 3.43% on Monday, leading a broad rally across Gulf stock markets as investors bought shares that had fallen sharply in recent sessions amid regional efforts to ease tensions. Qatar’s index rose 2.75% and Kuwait’s all-share index gained 1.96%.
The Tadawul All Share Index (TASI) rose 323.28 points to close at 9,761.78, according to market data published by Asharq Bloomberg. CNBC Arabia also put the close at 9,761 points.
Asharq Bloomberg said the index climbed 2.7% in early trade, its biggest intraday gain since April 8 based on data compiled by Bloomberg, as buyers returned to shares whose valuations had dropped after an extended decline. The outlet linked the rebound to regional moves to de-escalate, despite continuing geopolitical tensions.
The gains recovered losses from Sunday, when the index posted its lowest close since 2021, Al Araby Al Jadeed reported.
In Doha, the Qatar Exchange index rose 236.81 points to 8,852.29, according to Mubasher. Turnover climbed to QR557.19 million from QR313.27 million in the previous session, with 230.82 million shares changing hands in 36,860 trades.
Real estate led Qatar’s sector gains with a rise of 3.64%, followed by industrials at 3.11%. Fifty stocks advanced and six declined.
Kuwait’s all-share index closed at 8,492.80, Qatar News Agency reported, as 312.1 million shares worth KD83.1 million (about $270.2 million) traded. The Premier Market index rose 1.97% to 8,939.85, the Main Market index gained 1.94% to 8,463.16 and the Main 50 index climbed 2.85% to 9,449.19.
In the UAE, Dubai’s DFM General Index rose 0.30%, or 17.53 points, to 5,751.72, according to Mubasher. Trading value reached AED496.79 million, with 161.86 million shares traded in 12,388 deals, and the market capitalization of listed shares rose AED2.09 billion to AED940.42 billion.
Twenty-four Dubai stocks rose, 16 fell and 13 were unchanged. A block trade in Empower shares worth AED51.82 million was executed during the session, Mubasher said.
Abu Dhabi’s FTSE ADX General Index gained 0.55%, or 52.38 points, to 9,640.79, according to Asharq Bloomberg data. Hapi Journal reported trading value of about AED907 million, with 46 of 90 traded stocks rising, 28 falling and 16 unchanged.
Oman’s MSX 30 index rose 1.1%, or 79.64 points, to 7,357.82, Mubasher reported. Trading volume jumped 65.1% to 185.98 million securities, while trading value slipped 2.61% to OMR54.4 million.
Sohar Power led Muscat’s gainers with a rise of 8.7%, and OQ Base Industries climbed 5.41%. Oman Arab Bank led decliners with a drop of 8.09%.
Bahrain was the only Gulf market to fall. Its all-share index slipped 0.15% to 1,845.66, according to Asharq Bloomberg data, with Bahrain Islamic Bank down 1.52%, Mubasher reported.
