Gulf market indices plunge amid geopolitical tensions

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KUWAIT CITY, April 15: Most Gulf market indices closed in the red on Sunday, driven by escalating geopolitical tensions in the region, reports Al-Qabas daily. Iran’s air attack with dozens of drones and cruise missiles targeting sites in Israel on Saturday evening, in retaliation for the targeting of the Iranian consulate in Syria, contributed to the downturn. The Boursa Kuwait saw declines across its main indices, with the Premier and General market indices dropping by 1.01% and 0.98% respectively. Similarly, the main 50 and main indices experienced decreases of approximately 1.05% and 0.83% respectively. Trading volume reached 39.99 million dinars, involving 135.60 million shares across 10.99 thousand transactions. The market value of the Boursa Kuwait decreased by about 403.8 million dinars to reach 41 billion dinars, while in Saudi Arabia, the TASI main index declined by 0.30%, closing at 12,666.90 points after initially dropping by over 1% at the start of trading and the Muscat Stock Exchange index narrowed its morning losses to end with a slight increase of 0.08% at 4700.59 points. However, the Abu Dhabi, Dubai, and Bahrain stock exchanges remained closed.

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