GCC markets see biggest quarterly gain since global financial crisis – The National

GCC markets see biggest quarterly gain since global financial crisis – The National

A broad rally across regional GCC markets and higher oil prices led to the MSCI GCC aggregate index surging about 18 per cent in the first three months of 2022, its biggest quarterly gain since the second quarter of 2009 during the global financial crisis.

The rise was supported by four consecutive months of gains in the index, Kamco Invest said in a report.

All the regional markets were in the green during the quarter, with Abu Dhabi reporting the biggest gain of about 17 per cent, followed by Qatar and Saudi Arabia, with gains of around 16 per cent each, the report said.