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Gulf markets respond to Iranian attack on Israel
(MENAFN) At the onset of Sunday's trading session, major Gulf market indices experienced significant declines following an Iranian assault on Israel the previous night. Concerns regarding the potential escalation of regional conflict loomed large, precipitating a downturn in market sentiment.
The Saudi stock market index, TASI, recorded a notable decrease of approximately 1.8 percent, settling at 12,557 points. Similarly, the main index in Qatar saw a decline of 1.3 percent, while Kuwait's primary index registered a decrease of 0.79 percent. The Muscat Stock Exchange index also dipped by 0.19 percent during the initial trading hours.
In contrast, the Tel Aviv Stock Exchange index exhibited a modest increase of around 0.3 percent at the commencement of the day's trading activities.
The Iranian military's deployment of explosive drones and missiles targeting Israel marked a significant escalation, representing Tehran's first direct assault on the country. This aggressive action was purportedly in retaliation to an airstrike, allegedly conducted by Israel on April 1, targeting Iran's embassy compound in Damascus. The attack resulted in the deaths of Revolutionary Guard officials, intensifying concerns among investors about the potential for a wider regional conflict.
The Saudi stock market index, TASI, recorded a notable decrease of approximately 1.8 percent, settling at 12,557 points. Similarly, the main index in Qatar saw a decline of 1.3 percent, while Kuwait's primary index registered a decrease of 0.79 percent. The Muscat Stock Exchange index also dipped by 0.19 percent during the initial trading hours.
In contrast, the Tel Aviv Stock Exchange index exhibited a modest increase of around 0.3 percent at the commencement of the day's trading activities.
The Iranian military's deployment of explosive drones and missiles targeting Israel marked a significant escalation, representing Tehran's first direct assault on the country. This aggressive action was purportedly in retaliation to an airstrike, allegedly conducted by Israel on April 1, targeting Iran's embassy compound in Damascus. The attack resulted in the deaths of Revolutionary Guard officials, intensifying concerns among investors about the potential for a wider regional conflict.
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