The stock markets in the Gulf Cooperation Council countries experienced increases on Monday, with the Saudi index leading the way due to strong corporate results. In Dubai, the market index rose 0.3%, supported by gains in the communications, industry, and finance sectors. Shares of SALIC and Mashreq Bank saw increases as well.
In Abu Dhabi, the market index rose for the second consecutive session, with Abu Dhabi Islamic Bank and Aldar Properties seeing significant increases. Aldar Properties reported a jump in net profit of 88% year-on-year.
The Muscat Stock Exchange in Oman also experienced a rise in its index, outside of the Gulf region, the Egyptian Stock Exchange saw losses for four consecutive sessions before the main market index rose by 5.57%, the highest daily rise in four years. All stocks listed on the index saw increases.
In Kuwait, the general index rose 0.30%, while Bahrain’s index increased by 0.12%. Qatar’s index gained for the second session in a row, with Qatar Islamic Bank, Industries Qatar, and Qatar Gas Transport seeing increases
