Doha: Major stock markets in the Gulf rose in early trade on Monday, helped by the ceasefire deal between Israel and Palestinian militant group Hamas, while investors awaited key policy announcements from Donald Trump’s incoming administration. Hamas released three Israeli hostages and Israel released 90 Palestinian prisoners on Sunday, the first day of a ceasefire suspending a 15-month-old war that has devastated the Gaza Strip and inflamed the Middle East. Saudi Arabia’s benchmark index (.TASI), opens new tab gained 0.3%, led by a 2.8% rise in ACWA Power Company (2082.SE), opens new tab and a 0.2% increase in Al Rajhi Bank (1120.SE), opens new tab. Dubai’s main share index (.DFMGI), opens new tab added 0.2%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab gaining 0.8%. Trump, who will be inaugurated later on the day, is widely expected to make a flurry of policy announcements in the first hours of his second term as U.S. President. The Abu Dhabi stock index (.FTFADGI), opens new tab added 0.1%. However, oil prices fell as expectations of Trump relaxing curbs on Russia’s energy sector in exchange for a deal to end the Ukraine war offset concerns of supply disruption from harsher sanctions. Monitoring Desk
The Qatari benchmark (.QSI), opens new tab rose 0.5%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab advancing 1.4% and the Gulf’s biggest lender Qatar National Bank (QNBK.QA), opens new tab adding 0.3%.
