Most stock markets in the Gulf ended higher on Sunday, with the Saudi index leading the gains, reflecting a positive tone following the annual central banks' symposium and a rise in oil prices.
"GCC markets should progress in positive territory this week as they react to the U.S. Federal Reserve chairman intervention at the Jackson Hole symposium on Friday," said Wael Makarem senior market strategist at Exness.
"Investors were relieved to hear that the U.S. central bank will not taper its asset purchases program soon and that interest rate hikes were not in the line of sight for the moment."
Saudi Arabia's benchmark index (.TASI) rose 0.5%, with Al Rajhi Bank (1120.SE) gaining 1.2%, while Alinma Bank (1150.SE) advanced 2.3%.
Brent crude oil futures rose $1.63, or 2.3%, to settle at $72.70 a barrel on Friday for the biggest weekly gain in more than a year as energy companies began shutting U.S. production in the Gulf of Mexico ahead of a major hurricane expected to make landfall this week. read more
In Abu Dhabi, the index (.ADI) gained 0.4%, led by a 4.9% jump in Alpha Dhabi Holding (ALPHADHABI.AD).
The Abu Dhabi Securities Exchange (ADX) said on Saturday it would halve its trading commissions to 0.025% from 0.05% from Sept. 1, the exchange's second commission cut this year and the third in three years. read more
Dubai's main share index (.DFMGI) traded flat as gains in property shares were offset by declines in financial stocks.
Blue-chip developer Emaar Properties (EMAR.DU) closed 1% higher.
Emaar properties stock price should see further gains in the coming weeks to months as the real estate market continues to improve in Dubai and elsewhere and as the economic revival remains strong, added Makarem.
The Qatari benchmark (.QSI) fell 0.2%, hit by a 0.5% fall in Qatar Islamic Bank (QISB.QA).
Outside the Gulf, Egypt's blue-chip index (.EGX30) eased 0.1%, weighed down by a 0.8% fall in top lender Commercial International Bank Egypt (COMI.CA).
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