{
  "id": 3041696,
  "title": "Gulf bourses rise as Saudi index gains for fifth session",
  "url": "https://urgent.news/2026/08/24/gulf-bourses-rise-as-saudi-index-gains-for-fifth-session",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T14:37:52.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436321/gulf-bourses-rise-as-saudi-index-gains-for-fifth-session"
  },
  "original_language": "en",
  "account": "Gulf stock markets saw an upward trend on Monday, with Saudi Arabia's benchmark index leading the gains for the fifth consecutive session. The Saudi index closed 0.9% higher, propelled by strong performances from financial, utilities, and materials shares. Al Rajhi Bank surged 1.7%, while Saudi Basic Industries and ACWA Power each gained 1.6% and 2%, respectively. ACWA Power recently secured 15-year storage-services agreements for three 500-megawatt battery energy-storage projects in Saudi Arabia, strengthening its position in the market.\n\nMeanwhile, oil prices dropped by more than $1 a barrel due to profit-taking ahead of a potential U.S. announcement on further sanctions on Iran. The sanctions could disrupt Middle East oil supplies, but Iran remained defiant, stating that it would cease all oil exports from the Gulf if the economic war persisted. Iran's stance was dismissed by its neighbors, who emphasized the importance of regional peace and stability.\n\nIn contrast, Abu Dhabi and Dubai's main indices also gained, with First Abu Dhabi Bank and Alpha Dhabi Holding leading the charge. Emaar Properties and Salik Company saw gains as well. Qatar's benchmark index rose 0.5%, with most of its constituents performing well. Qatar National Bank and Mesaieed Petrochemical Holding were among the top gainers in the emirate.\n\nHowever, Egypt's blue-chip index saw a slight decline of 0.3%, with most shares ending lower, including E-Finance and Telecom Egypt. The situation outside the Gulf also reflected a mixed performance, with Egypt's index down 0.3%, while Kuwait and Bahrain only managed a modest 0.1% increase. Oman, on the other hand, experienced a slight dip of 0.1%. Egypt's index closed at 55,165.",
  "summary": "BENGALURU: Saudi Arabia’s stock market led gains among most Gulf bourses on Monday, as advances in financial, utilities and materials shares extended the previous session’s rally despite weaker oil prices. Oil prices fell by more than $1 a barrel as investors took profits ahead of an expected U.S. announcement on further sanctions on Iran, which could disrupt Middle East supplies. Iran dismissed…",
  "key_points": [
    "Saudi stock index gains 0.9% for fifth consecutive session",
    "Al Rajhi Bank and ACWA Power lead gains with 1.7% and 2% rise",
    "Oil prices fall over $1 due to potential U.S. sanctions on Iran"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}