Mixed Signals in GCC Markets
Last week’s GCC stock scene was a bit of a roller‑coaster—some dips, a few climbs, and a whole lot of buzz around oil prices and geopolitical chatter.
Saudi Stock Market: A Rocky Ride
- Stocks in the red for the second session in a row, especially the big names.
- Google says OPEC+ kept the drill rolling on production cuts, leaving investors wary about the local economy.
- On the bright side, Sal broke out with a 40% jump in 2023 profits and a 15% dividend shout‑out—talk about a cheering fan!
- Oil price ups could lift the vibe again, but short‑term price corrections look likely.
Dubai’s Stock Market: Swinging Between Blues and Greens
- The market opened with a stingy start, mainly dragged down by banks—Dubai Islamic Bank, Ajman Bank, and Commercial Bank of Dubai fell.
- Real estate, however, held the fort, showing resilience and hinting at further upside if fundamentals stay solid.
- Dubai is still bullish, but it could chew through more gains if oil bulls keep their momentum.
Abu Dhabi & Qatari Markets: Holding Their Own
- Abu Dhabi stayed pretty much flat after bouncing back from last week’s dips. More oil price cheer might jump‑start it.
- Qatar’s market held steady with a bullish trend looming, though it’s still nudged by geopolitical tension, especially in the banking arena.
- Stocks like Nakilat took a hit amid the ongoing geopolitical chatter.
- Both markets could pause long enough for a price correction if things tilt too much.
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