BENGALURU: Most Gulf stock markets slipped in early Sunday trading as fears of a broader Iran-linked conflict weighed on investor sentiment after Yemen’s Houthis launched their first attacks on Israel since the conflict began and the US deployed additional forces to the Middle East.
The Washington Post reported on Saturday that US officials said the Pentagon was making preparations for a potential multi-week ground operation in Iran, though it remained uncertain whether President Donald Trump would authorize the deployment of ground forces.
The Qatari index lost 1.1 percent as Qatar National Bank, the Gulf’s biggest lender by assets, declined by 1.3 percent while the Kuwait bourse eased by 0.4 percent and the Bahrain market dipped by 0.1 percent.
Saudi Arabia’s benchmark index bucked the trend with a 0.4 percent gain, helped by a 0.4 percent rise for Al Rajhi Bank and a 0.6 percent advance for oil major Saudi Aramco.
Saudi Arabia’s East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at full capacity of 7 million barrels per day, Bloomberg News reported on Saturday, citing a person familiar with the matter.
