Most stock markets in the Gulf ended lower on Monday on worries that rising geopolitical tensions will lead to wider conflict in the region, although the Saudi index bucked the trend to snap three sessions of losses.
Hezbollah rockets hit Israel's third-largest city Haifa early on Monday as the country looked poised to expand ground incursions into southern Lebanon on the first anniversary of the Gaza war, which has spread conflict across the Middle East.
The growing conflict has raised fears that the United States, Israel's superpower ally, and Iran will be sucked into a wider war in the oil-producing Middle East.
Dubai's main share index (.DFMGI), opens new tab dropped 0.3%, hit by a 0.8% fall in utility firm Dubai Electricity and Water Authority (DEWAA.DU), opens new tab and a 0.4% decrease in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
Elsewhere, budget airliner Air Arabia (AIRA.DU), opens new tab was down 0.4%.
In Abu Dhabi, the index (.FTFADGI), opens new tab lost 0.4%.
Saudi Arabia's benchmark index (.TASI), opens new tab, however, advanced 1.2%, ending three consecutive sessions of losses, with aluminium products manufacturer Al Taiseer Group (4143.SE), opens new tab rising 2.1% and Al Rajhi Bank (1120.SE), opens new tab up 5.1%.
Among other gainers, Saudi perfumer Almajed 4 Oud (4165.SE), opens new tab surged 30% in its trading debut.
During the first three days of trade, the Saudi Exchange allows shares to rise or fall 30%.
Oil prices - a catalyst for the Gulf's financial markets - extended gains, with Brent nearing $80 to build on last week's steepest weekly jump since early 2023, driven by fears of a wider Middle East conflict and potential disruption to exports from the major oil-producing region.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab finished 0.3% higher.
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