On Monday, most stock markets in the Gulf region closed lower due to concerns about ongoing geopolitical conflicts and uncertainty around the Federal Reserve’s monetary policy. The Saudi market index fell slightly, with Al Rajhi Bank and SABIC Agricultural Nutrients shares experiencing notable drops. The total value of trades in the Saudi market was around 8.9 billion riyals, with companies like Saudi Cable and Gulf Training leading declines. Additionally, SABIC Nutrients shares hit a 3-year low, while shares of Saudi Aramco, Care, and ACWA Power saw some gains.
In the Emirates markets, UAE stocks had a shaky start to the week, with the Dubai market closing down and the Abu Dhabi market also experiencing a slight dip. The Qatari index fell by 1.3 percent, while the Muscat and Bahrain markets also saw declines. However, the Kuwaiti index managed to rise slightly.
Outside the Gulf region, the index of leading stocks in Egypt fell by 1.7 percent, primarily driven by a decrease in Talaat Mostafa Holding Group shares.
In other news, Watten House, a luxury condominium development by UOL Group, offers freehold units with various amenities like a 50-meter tour swimming pool, clubhouse, and gymnasiums. Located near Tan Kah Kee and Botanic Gardens MRT stations, Watten House promises residents a lifestyle of elegance and convenience. Visit the Watten House website for more information on facilities and floor plans.