- Most Gulf stock markets fell due to fears of a widening regional conflict after Riyadh airport attack
- Saudi Arabia's Tadawul index closed 0.2% lower with Saudi National Bank down 1.1% and Aramco down 0.2%
- Qatar's index dropped 1.5%, hitting its lowest since May 2020 amid geopolitical tensions and stalled talks
Most Gulf stock markets ended lower on Sunday as fears of a widening regional conflict unsettled investors after an attack on Riyadh's international airport killed at least 12 people and wounded more than 300, according to reports.
Saudi Arabia's Tadawul All Share Index trimmed its earlier losses to close 0.2% lower at 10,361. Saudi National Bank, the country's largest lender by assets, fell 1.1%, while shares of oil giant Saudi Aramco slipped 0.2%, Reuters reported.
Market sentiment remained under pressure amid concerns that the conflict involving the US, Israel and Iran could widen further across the region.
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President Donald Trump said the United States was weighing whether to join Saudi Arabia's military campaign against Iran-backed Houthi forces in Yemen, a move that could draw Washington deeper into the widening regional conflict.
Saudi Arabia and the Saudi-backed Yemeni government have reported hundreds of strikes against targets in Houthi-controlled areas. The Houthis have alleged that the attacks killed civilians, including women and children.
Qatar's benchmark index fell 1.5%, extending its losing streak to four consecutive sessions and closing at its lowest level since May 2020. Qatar Islamic Bank shares declined 1.7%.
Geopolitical uncertainty, stalled negotiations between Washington and Tehran, and reports of renewed escalation have constrained investors' appetite for risk.
Milad Azar, a market analyst at XTB MENA, said uncertainty over the regional conflict was keeping investors cautious, with attacks on oil tankers and continued disruption to shipping through the Strait of Hormuz adding to concerns over the market outlook, Reuters reported.
Elsewhere in the Gulf, Bahrain's benchmark index slipped 0.3%, while Oman's index gained 0.3% and Kuwait's benchmark edged up 0.1%.
Outside the Gulf, Egypt's blue-chip index declined 2% after resuming trading following a one-session break. vAll its constituents ended in negative territory, with Commercial International Bank falling 1.6%.
Investors are likely to remain focused on developments in the regional conflict, diplomatic efforts between the US and Iran, and disruptions to shipping routes as they assess the outlook for regional equities.
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