Gains in Dubai were supported by heavyweight developer Emaar Properties, which rose 2.6 percent, while Parkin Company advanced 3.6 percent
Most GCC stock markets closed in positive territory on Monday as easing geopolitical tensions and optimism over a potential U.S.-Iran peace agreement improved investor sentiment.
On Sunday, U.S. President Donald Trump said Washington and Tehran had “largely negotiated” a deal aimed at ending their three-month conflict and restoring access through the Strait of Hormuz, a key route that previously handled around one-fifth of global oil and liquefied natural gas shipments.
Dubai’s benchmark index climbed 1.136 percent, supported by gains in heavyweight developer Emaar Properties, which rose 2.6 percent, while Parkin Company advanced 3.6 percent.
Gains on Monday were led by food delivery platform Talabat, which surged 12.7 percent to AED1.10. Construction firm ALEC climbed 8.9 percent, while insurer Salama advanced 7.1 percent. Amlak Finance rose 6.3 percent, alongside a 6 percent gain in Dubai Residential REIT. District cooling provider Tabreed also posted solid gains, rising 5.5 percent.
In Abu Dhabi, the index added 0.453 percent, driven by a 2.4 percent increase in shares of ADNOC Gas.
Gains on ADX were led by strong gains across several stocks, with Chimera S&P Pakistan UCITS ETF emerging as the top gainer, rising 7.547 percent to close at AED11.400. It was followed by Americana Restaurants International PLC, which advanced 6.486 percent to AED1.970, while UAB climbed 6.061 percent to AED1.400.
Gulf Medical Projects Company also posted solid gains, increasing 5.652 percent to AED2.430, and KICO rounded out the top five gainers with a 5.566 percent rise to 5.500. The broad-based gains reflected positive investor sentiment across multiple sectors during the trading session.
Read: U.S. dollar dips as investor sentiment improves on U.S.-Iran deal hopes
Bahrain and Oman’s indexes also rose on Monday, with the Bahrain All Share Index and the Muscat Stock Exchange Index each rising 0.9 percent, extending advances from the previous session. In contrast, Qatar’s benchmark index fell 1.1 percent after surging more than 3 percent in the prior session, weighed down by a 2.7 percent decline in petrochemical producer Industries Qatar.
Meanwhile, Brent crude futures dropped $6.01, or 5.8 percent, to $97.53 per barrel. Outside the Gulf, Egypt’s blue-chip EGX30 index slipped 0.4 percent, while the Saudi stock market remained closed ahead of the Eid holiday.