Gulf Markets Diverge as Qatar Falls 1.4% While Dubai Gains 0.7%
Gulf stock markets delivered mixed performances on September 16 as Qatar fell 1.4% while Dubai gained 0.7%, with investors watching regional risks, oil supplies, and the Federal Reserve’s interest-rate decision.
Gulf Markets Diverge as Qatar Falls 1.4% While Dubai Gains 0.7%
Gulf stock markets moved in different directions on Wednesday as investors weighed rising regional risks, oil-supply concerns, and expectations surrounding the U.S. Federal Reserve’s interest-rate decision.
Qatar’s benchmark index fell 1.4%, with all of its constituents ending lower. Qatar Islamic Bank was among the decliners, losing 2.4% during the session.
Abu Dhabi’s main index also declined, slipping 0.2%, while Saudi Arabia’s benchmark index ended the session broadly unchanged. Saudi Aramco shares gained 0.6%, helping support the Saudi market.
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Dubai moved in the opposite direction, with its main index rising 0.7%. Emaar Properties was one of the main drivers of the gain, with its shares rising 3.4% after the company announced a AED 4.4 billion special dividend.
The different performances came as investors continued to monitor developments affecting energy supplies and shipping routes in the region. Saudi Arabia has increased crude shipments through Oman after attacks disrupted parts of its normal export infrastructure, helping ease some concerns about supply disruptions.
Oil prices also fell during Wednesday’s trading. Brent crude declined 3.3% to $105.12 a barrel, while U.S. West Texas Intermediate fell 3.9% to $101.72. The decline followed reports of additional Saudi crude being offered through Oman and a smaller-than-expected draw in U.S. crude inventories.
Monetary policy remained another focus for investors as the U.S. Federal Reserve prepared to conclude its September meeting. The outcome was closely watched across Gulf markets because several regional currencies are pegged to the U.S. dollar, linking local monetary conditions to changes in U.S. interest rates.
The day’s trading showed the uneven response across Gulf exchanges, with Qatar and Abu Dhabi declining, Saudi Arabia holding steady and Dubai advancing. The moves reflected differences in individual markets and companies as investors continued to assess the effects of regional developments on energy, financial conditions and corporate earnings.
