Gulf stock markets ended higher on Wednesday with Dubai in the lead as hopes mounted for a de-escalation in the conflict involving Iran. U.S. President Donald Trump said Washington could terminate its military campaign in two to three weeks and that no agreement with Tehran was required to stop the fighting. Dubai’s main index climbed 2 percent after the emirate’s 1 billion dirham economic support package took effect, providing relief to the business community for the next three to six months.
Shares of Emaar Properties surged 5.6 percent to lead the blue-chip gains in the emirate while Emirates NBD rose 4.7 percent. The support measures had been announced by the crown prince via social media on the prior Monday. These steps are seen as critical in helping local firms navigate the uncertainties arising from the month-long regional conflict.
Milad Azar, a market analyst at XTB MENA, said, «If these expectations are realized, the recovery could become more sustained over the medium term.» He added, «Support from the Dubai government’s new package could ease economic pressures and support growth, providing further boost to the market.» Azar further noted, «Additionally, the UAE continues to benefit from resilient fundamentals.»
Other Gulf indices also posted gains with Abu Dhabi’s benchmark up 1.4 percent and Aldar Properties closing 0.9 percent higher. Qatar’s main index rose 0.8 percent supported by a 3.9 percent advance in Industries Qatar while Saudi Arabia’s benchmark added 0.2 percent with Saudi National Bank and Saudi Aramco among the advancers. These movements occurred even as an Iranian cruise missile struck an oil tanker leased by QatarEnergy in Qatari waters demonstrating that risks remain elevated.
Oil prices reversed some of their earlier gains on the day as uncertainty continued to weigh on energy markets. The Saudi market has stabilized after a steady recovery this month with still elevated oil prices continuing to support sentiment. Such dynamics highlight the interconnected nature of geopolitics and financial markets in the region.
However subsequent trading sessions showed the volatile nature of the situation as fears of further escalation in the Iran war led to mixed results in UAE equities by April 3. Dubai’s index fell 0.5 percent at that time with Emaar Properties and its development arm each declining 4.9 percent. This reversal illustrated how quickly market sentiment can shift amid evolving developments in the Middle East conflict.
Egypt’s blue-chip index meanwhile leapt more than 3 percent with Commercial International Bank gaining 3.1 percent as positive momentum spread to other regional bourses. The broader equity response reflected investor efforts to price in both the potential for peace and the persistent threats from the ongoing war. Additional context from the period shows how such events can influence investment flows across multiple asset classes.
Sources:
— https://www.reuters.com/world/middle-east/dubai-leads-gulf-stocks-higher-hopes-de-escalation-iran-war-2026-04-01/
— https://www.zawya.com/en/capital-markets/equities/mideast-stocks-dubai-leads-gulf-stocks-higher-on-hopes-of-de-escalation-of-iran-war-jnm8m8pi
— https://www.brecorder.com/news/40414287
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