GCC: After Turbulent Week, Stock Market Extends Gain Jolted by OPEC+ Deal

Most of the GCC stock markets started the week on a positive note, led by gains on the UAE bourses.

The regional markets extended their gains on Sunday, hoping that the Opec+ will reach some sort of a deal on the production cuts, while increased recoveries of coronavirus cases in the UAE also boosted sentiment among investors on Saturday.

Dubai Financial Market General Index jumped over 3.27 percent to 1,889.5 points, helped by gains in Emaar Properties, Emirates NBD, Gulfa and Dubai Islamic Bank.

Abu Dhabi stock exchange rose 4.12 percent to 4,129.5 points on the back of gains in food and beverage company Agthia, Abu Dhabi Commercial Bank, Aldar Properties and Abu Dhabi Islamic Bank shares.

Saudi Arabia, the region's largest bourse, was down 0.8 percent to 6,949 points.

Oman's Muscat Securities Market was up 0.1 percent to 3,475.8 points in the morning trade. Boursa Kuwait fell at the opening of the trade but recovered later and was up 0.5 percent to 4,934 points. Bahrain Bourse was also trading in positive territory, rising 0.23 percent, while Qatar was down by 0.22 percent.