On June 24, 2025, Gulf financial markets surged due to a resurgence of investor confidence after a 12-day battle between Iran and Israel concluded with a truce mediated by the United States.
Following US President Donald Trump’s declaration, which allayed fears of possible disruptions in the Middle East, a vital centre for the world’s oil supply, the price of gold and oil fell precipitously as risk appetite turned towards stocks.
The major share index in Dubai saw its biggest intraday increase since December 2024, rising 3.4%. Leading developer Emaar Properties fuelled the boom with a 5.1% increase. Budget carrier Air Arabia had a 7.8% in
Gains in financial heavyweights propelled a 2.3% increase in Saudi Arabia’s Tadawul index. Saudi National Bank gained 2.4%, while Al Rajhi Bank increased 2.0%. Leveraging the favourable atmosphere in the market, the freshly listed budget airline Flynas surged 7.5% to 80.20 riyals. SABIC Agri-Nutrients fell 1.2%, while Saudi Aramco deviated from the trend by dropping 1.5% as oil prices dropped.
The benchmark index for Qatar increased 2.1% with the help of a 2.3% gain in Qatar Islamic Bank. On June 23, 2025, after a temporary stoppage due to an Iranian missile strike on a US air base in Qatar, which resulted in no casualties, Qatar’s civil aviation authority reopened its airspace, which was followed by the rally.
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