Saudi bourse leads Gulf rally as oil prices recover

PTI, Riyadh
11/03/2020   0 Comments

Stock markets in the energy-rich Gulf states made a strong rebound in opening trade Tuesday, led by the Saudi bourse which jumped 5.6 per cent, as oil prices bounced after heavy losses.

Energy giant Aramco, which dominates the Saudi Tadawul market, gained 5.5 per cent after a series of sessions in the red where it tumbled below the price where it listed last December.

Dubai Financial Market surged 5.5 per cent while its sister Abu Dhabi market rose 4.2 per cent, partly reversing steep declines.

Boursa Kuwait, where trading on its premier index was suspended for two days due to huge losses, rallied 6.6 per cent and the Qatar stock market rose 3.0 per cent.


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