Mideast Stocks: Investor caution sends most Gulf markets lower

Commercial International Bank Egypt CIB

23/03/2025 12:46

By Ateeq Shariff

March 23 (Reuters) - Most Gulf stock markets were subdued on Sunday as escalating geopolitical concerns and worries over U.S. tariffs and their potential impact on the global economy led investors to exercise caution and retreat from riskier investments.

Saudi Arabia's benchmark index .TASI fell 0.6%, with Al Rajhi Bank 1120.SE and the country's biggest lender, Saudi National Bank 1180.SE, each losing 1.6%.

Oil giant Saudi Aramco 2222.SE rose 0.4%.

Aramco has agreed to buy fuel distributor Primax, which has operations in Peru, Colombia and Ecuador, Peruvian newspaper Gestion reported late on Thursday, citing sources familiar with the deal.

In Qatar, the index .QSI retreated by 0.7%, with Commercial Bank COMB.QA down 7.1% as it traded ex-dividend.

Outside the Gulf, Egypt's blue-chip index .EGX30 gained 0.8%, with most of its constituents in positive territory,  including a 3.7% gain for Commercial International Bank COMI.CA.

SAUDI ARABIA
.TASI rose 0.6% to 11,694
QATAR
.QSI lost 0.7% to 10,268
EGYPT
.EGX30 up 0.8% to 31,934
BAHRAIN
.BAX added 0.2% to 1,966
OMAN
.MSX30 down 0.4% to 4,393
KUWAIT
.BKP was flat at 8,546

 (Reporting by Ateeq Shariff in Bengaluru
Editing by David Goodman)

 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))