The Gulf Cooperation Council (GCC), comprised of six member countries, typically aligns its monetary policy with decisions made by the Fed, as most regional currencies are pegged to the U.S. dollar.
In Qatar, the benchmark Stock index (.QSI) saw a notable 1.3% increase, with all stocks showing positive movements. Leading the way was Qatar National Bank (QNBK.QA), the region’s largest lender, which recorded a 2% climb. Qatar Islamic Bank (QISB.QA) and Commercial Bank (COMB.QA) also experienced gains of 1.5% and 2.2%, respectively.
Investors in the Gulf Market region are optimistic as the Federal Reserve’s dovish stance provides a favorable environment for market growth. The positive momentum is expected to continue, offering potential opportunities for investors in the Gulf markets.