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Most Gulf markets in the red on falling oil prices
1 min Mena Today
Stock markets in the Gulf ended lower on Sunday in response to Friday's fall in oil prices.
Saudi Arabia's benchmark index (.TASI) edged 0.1% higher, ending two sessions of losses © Mena Today
Stock markets in the Gulf ended lower on Sunday in response to Friday's fall in oil prices, although the Saudi index bucked the trend to trade higher.
Oil - a catalyst for the Gulf's financial markets - fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium.
In Qatar, the index (.QSI) dropped 0.7%, weighed down by a 1.5% fall in Qatar Islamic Bank (QISB.QA) and a 1.5% decrease in petrochemical maker Industries Qatar (IQCD.QA).
Outside the Gulf, Egypt's blue-chip index (.EGX30) declined 0.8%, with top lender Commercial International Bank (COMI.CA) losing 2%.
Saudi Arabia's benchmark index (.TASI) edged 0.1% higher, ending two sessions of losses, helped by a 1.2% rise in Elm Company (7203.SE).
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