On Sunday, the majority of stock markets in the Gulf witnessed either a drop or stability, with investors carefully considering the outlook for interest rates in anticipation of the upcoming Federal Reserve meeting. However, the Saudi equities index diverged from this trend.
Investors exercised caution as they awaited the Federal Reserve’s meeting scheduled for the following week, where it is widely anticipated that the central bank will maintain interest rates at their current levels and provide updated economic projections.
The Qatari benchmark index saw marginal gains, driven by increases in the industrials, utilities, real estate, and energy sectors, which offset losses in finance, materials, consumer staples, and communications.
Among individual stocks, Qatar National Bank and Qatar Islamic Bank both experienced a decline of 0.6%, while Qatar Navigation recorded a notable increase of 3.6%.
In contrast, Saudi Arabia’s benchmark index advanced by 0.3%, marking its fourth consecutive session of gains, with most sectors showing positive momentum. Notable performers included ACWA Power, which surged by 8.6%, and Ades Holding, which rose by 3.5%.
