Saudi Market Holds Steady, Qatar Dips on Banking Pressure, Kuwait Rallies Strongly on Oil Gains

Riyadh / Doha / Kuwait | EcoPulse24

Gulf stock markets ended Tuesday's session with mixed results, reflecting continued volatility in global energy markets. The Saudi (TASI) and Kuwaiti markets closed higher, while Qatar's index declined due to selective movements in blue chip stocks.

Saudi Market - TASI Closes Higher on Blue Chip Support
The main Saudi index (TASI) ended March 3 up 0.73% at 10,565.74 points, a gain of 76.83 points. Trading value reached SAR 5.72 billion with 250.7 million shares exchanged across 476,858 transactions involving 268 listed companies. There were 95 gainers versus 161 losers. The MT30 index rose 0.95%, while the parallel market (Nomu) fell 1.05%. The Sukuk & Bonds Index dropped 0.36%.

Top traded companies by value included Saudi Aramco (SAR 625.9 million) and Al Rajhi Bank (SAR 490.3 million). Yansab led gainers (+9.94%), followed by Gasco (+9.85%). Among top decliners were Elm (-7.26%) and ADES (-6.09%). Positive performance was driven by improved risk appetite in petrochemicals and energy shares, in parallel with rising oil prices, despite a broad base of losing stocks.

Qatar Exchange - QE20 Index Drops 0.67% on Banking Sector Pressure
Qatar's QE20 index closed at 10,509.82, down 0.67% (71.21 points). Trading value was QAR 502.7 million across 28,782 transactions. Market capitalization stood at QAR 624.6 billion. 31 companies fell, 24 rose, and 3 were unchanged. Banking stocks weighed heavily, with QNB (-1.91%), Qatar Islamic Bank (-1.77%), and Commercial Bank (-1.76%) leading the decline. The market's sensitivity to heavyweight banking shares and investor caution regarding energy prices influenced the downturn.

Kuwait Exchange - Broad Gains on Oil Surge
Kuwait's markets saw widespread gains: Premier Market up 0.93% at 9,064.78, Main Market 50 up 1.60%, and All-Share Index up 0.88%. Premier Market trading reached KWD 45.55 million across 11,022 transactions. Kuwaiti oil prices surged 13.73% to $78.70 per barrel, directly boosting investor sentiment and blue chip shares amid stable economic indicators and contained inflation.

EcoPulse24 Analysis :
The divergence in Gulf market performance reflects varying sector weights. Saudi Arabia benefited from its energy and petrochemical sectors, with strong liquidity and trading focused on Aramco and Al Rajhi. Qatar was pressured by its dominant banking sector, making its index more sensitive to sector volatility. Kuwait's rally was closely tied to oil price gains and their impact on sovereign revenues. If oil stabilizes above $75–80, energy markets could continue to support Gulf indices, but the broad base of declining shares in Saudi Arabia and Qatar signals ongoing selective and cautious trading.