Gulf stock markets faced widespread selling pressure today, with the Saudi market recording its sixth consecutive session of losses, pushing the index to its lowest levels since last June amid continued negative sentiment. The banking and energy sectors pressured overall performance, with notable declines in shares such as Aramco, Petro Rabigh, Al Rajhi Bank, and Alinma Bank.

According to analyst Joseph Zaharia, “Despite a slight recovery in oil prices, the Saudi market remains exposed to potential price declines, as the potential oversupply and expectations of weak demand cast a shadow over the overall oil market outlook.”

In the UAE, the Dubai Financial Market recorded its third consecutive session of losses, with most sectors declining. Real estate and financial sector shares led the losses, including prominent stocks such as Emaar Properties, Emaar Development, Dubai Islamic Bank, and Emirates NBD. The market may see further correction unless supportive developments emerge.

The Abu Dhabi Securities Exchange also headed lower, continuing its corrective wave. Most sectors declined, with leading stocks under pressure, including Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, ADNOC Logistics & Services, and Multiply Group. The unclear outlook for oil markets remains a major risk to market performance.

Similarly, the Qatar Stock Exchange followed the trend of its regional peers, continuing its corrective wave. Most sectors saw declines, with shares such as Qatar National Bank (QNB), Qatar Islamic Bank, and Investment Holding falling. Market expectations remain bearish unless a new support level is established.