Gulf Stock Markets Decline Amid Geopolitical Tensions; Saudi Index Down 0.7% on March 19

Gulf stock markets closed lower on Wednesday, March 19, amid escalating geopolitical tensions following Israeli airstrikes in Gaza. The Saudi Arabian benchmark index decreased by 0.7%, with Saudi Aramco falling 2.2% and Saudi Arabian Mining Company dropping 2.8%. Dubai's main share index slipped 0.6%, impacted by a 3.7% decline in Emirates NBD and a 0.4% decrease in Emaar Properties. The Qatari index fell 0.7%, with Qatar National Bank losing 1.7%. Egypt's blue-chip index concluded 0.8% lower. Other market movements included Abu Dhabi down 0.3%, Bahrain easing 0.3%, Oman gaining 0.6%, and Kuwait adding 0.3%. These declines occurred as oil prices approached recent lows, further pressuring the market.