Major stock markets across the Gulf traded cautiously in early sessions on Tuesday as uncertainty surrounding a deadline set by US President Donald Trump weighed on investor sentiment, Reuters reported. The deadline reportedly requires Iran to reopen the Strait of Hormuz to all shipping, heightening concerns over regional stability and energy flows.
The risk-off mood kept the US dollar firm while oil prices rose sharply, reflecting market sensitivity to potential disruptions in one of the world’s key energy transit routes. In Saudi Arabia, the benchmark index declined 0.5 percent, pressured by losses in major stocks including Al Rajhi Bank and Saudi Basic Industries Corp.
Saudi authorities said they intercepted and destroyed seven ballistic missiles targeting the kingdom’s Eastern Region, with debris reportedly falling near energy infrastructure, according to the defence ministry. In other Gulf markets, Dubai’s main index fell 0.3 percent, while Abu Dhabi’s benchmark also slipped 0.3 percent. Qatar’s index edged slightly higher by 0.1 percent, supported by gains in Qatar Islamic Bank.