Page 66 - SALIK PR REPORT - MARCH 2024

3/15/24, 9:50 AM Mideast Stocks: Gulf markets rise on higher oil prices; US data in focus

The Qatari benchmark index was up 0.6%, lifted by gains in almost all sectors with Qatar National

Bank, the region's largest lender, rising 0.7% and Qatar Gas Transport adding 3%.

In Abu Dhabi, the benchmark index rose 0.1%, helped by a 1.4% increase in Aldar Properties and a
4.6% surge in ADNOC Drilling.

Saudi Arabia's benchmark index was up marginally with ACWA Power rising 5.9% and Saudi Arabian
Mining gaining 2.5%. However, oil major Saudi Aramco and the kingdom's largest lender Saudi

National Bank slipped 2.5% and 2.0% respectively.

Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is
usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.

Outside the Gulf, Egypt's blue-chip index rose 1%, ending its two sessions of losses with almost all
sectors in the green. Commercial International Bank gained 2.7% and El Sewedy Electric advanced

2.7%.

SAUDI ARABIA rose 0.04% to 12,729
KUWAIT fell 0.3% to 8,149
QATAR gained 0.6% to 10,256

EGYPT added 1% to 31,316
BAHRAIN gained 0.2% to 2,047
OMAN added 0.6% to 4,786
ABU DHABI up 0.1% to 9,255
DUBAI rose 0.7% to 4,290

(Reporting by Md Manzer Hussain; Editing by Shailesh Kuber)

Reuters

https://www.zawya.com/en/markets/equities/mideast-stocks-gulf-markets-rise-on-higher-oil-prices-us-data-in-focus-vprswydf 2/3