Major Gulf markets rise thanks to financial sector stocks

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closed Major stock markets in the Gulf region On the rise, today, Tuesday, the shares of the financial sector were the main supporter and led the gains in the Abu Dhabi Stock Exchange.

The main Saudi index gained 0.3%, the Saudi National Bank, the kingdom’s largest bank, rose 2.5%, and the petrochemical company, the Saudi Basic Industries Corporation (SABIC) 0.7%.

Dubai’s main index added 0.3%, thanks to the 1.2% rise in Emaar Properties and its unit Emaar Malls 1.5%, citing Reuters.

The Dubai government airport operator hopes to receive a flood of travelers as the Corona virus pandemic recedes, targeting an 8% growth in traffic through Dubai International Airport to 28 million passengers this year.

“With infection rates stabilizing in the region, Dubai announced the opening of its airport terminals this week in a sign of easing Covid-related restrictions,” said Michael Stark, an analyst at Exness.

“This step should help the aviation sector get back on track and support the economy,” he added.

In Abu Dhabi, the index rose 0.5%, the first Abu Dhabi Bank, the largest bank in the Emirates, gained 1%, and the International Fish Farming Holding Company gained 0.8%.

The Qatari index rose 0.3%, and the telecom company, I want, jumped 6.9%.

Outside the Gulf region, the Egyptian Stock Exchange index rose 1.4%, as most of the index’s shares, including the Commercial International Bank, the largest listed bank in Egypt, rose 1.6%.

The performance of the indicators was as follows:

Saudi Arabia The index rose 0.3% to 10,892 points.

Abu Dhabi The index gained 0.5% to 6,651 points.

Dubai: The index increased 0.3% to 2856 points.

Qatar: The index rose 0.3% to 10,776 points.

Egypt The index rose 1.4% to 10,206 points.

Bahrain The index gained 0.2% to 1572 points.

Sultanate of Oman: The index advanced 0.3% to 4,035 points.

Kuwait: The index increased 0.6% to 7006 points.





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