Mixed Reactions as Gulf Markets Bounce Back after Iranian Attack on Israel

On Sunday, Gulf markets experienced a decline following an unprecedented Iranian attack on Israel. However, by the end of the trading session, the main indices showed a slight reduction in their sharp declines. The session was characterized by calm trading after the markets had been closed for the Eid al-Fitr holiday the previous week.

In Saudi Arabia, the TASI index closed down 0.3% with transactions totaling 6.28 billion riyals, after initially falling 1.8% in early trading. In the UAE, markets remained closed for an extended holiday, while the Qatari index fell by 0.64% and the Bahraini index stabilized.

Specifically in the Saudi market, some key stocks like Al Rajhi Bank and Al Ahli Saudi saw declines, while others such as GIG and Atheeb Telecom experienced gains. In Kuwait, the Stock Exchange closed with a general index decline of 0.98%, while in Oman, the Muscat Stock Exchange showed a slight increase. Outside of the Gulf markets, Jordan’s Stock Exchange closed with a 0.5% increase.

Overall, investors monitored the impact of Iran’s attack on Israel and its potential repercussions on regional geopolitics throughout Sunday’s trading sessions. Despite mixed results across different markets in