StocksMedium•30 October 2026•
1 min read
Gulf Markets Retreat as Geopolitical Tensions and Bank Stocks Weigh on Sentiment
Key Facts
1Saudi Arabia’s benchmark index declined 1% with Saudi National Bank decreasing by 1.9%.
2Abu Dhabi’s index lost 1.2% and Dubai’s main share index fell 0.5% amid Yemen conflict concerns.
Major Gulf stock markets closed lower on Thursday, October 29, 2026, as regional geopolitical tensions weighed on investor sentiment. Business Recorder reported that Saudi Arabia’s benchmark index declined 1%, led by a 1.9% drop in Saudi National Bank and a 1.1% decrease in Al Rajhi Bank, while Saudi Aramco shares fell 0.3%.
In the United Arab Emirates, Abu Dhabi’s index lost 1.2% as First Abu Dhabi Bank tumbled 4.2% despite reporting a 6% rise in third-quarter net profit. Dubai’s main share index fell 0.5%, pressured by a 4.9% slide in Air Arabia, while the Qatari index declined 0.7% amid concerns over stalled peace efforts in Yemen.