UAE Stocks Fall as US-Iran Deadlock Weighs on Investor Sentiment
UAE stocks fall lower on Friday, October 2, as stalled US-Iran negotiations weakened investor sentiment and added pressure to regional energy markets.
Dubai’s benchmark index fell 0.5%, marking its fourth consecutive losing session. Nearly all of its constituents ended lower. Emirates NBD dropped 1.9%, while Salik fell 2.7%.
Abu Dhabi’s benchmark index also declined, slipping 0.3% for a seventh straight session. Losses in basic materials and consumer discretionary stocks weighed on the market. Alpha Dhabi Holding fell 1.1%, while Abu Dhabi Commercial Bank declined 1.3%.
Market analysts cited geopolitical uncertainty and the lack of progress in US-Iran talks as factors affecting investor confidence. Continued shipping disruptions around the Strait of Hormuz have also added uncertainty to regional energy markets.
The weekly performance reflected the broader pressure. Abu Dhabi’s index lost 2.2% over the week, while Dubai’s benchmark declined 1.3%, according to LSEG data.
The market moves came as reports pointed to a possible increase in US military presence in the Middle East. At the same time, Iranian President Masoud Pezeshkian said Tehran remained open to dialogue with Washington.
Investors are now watching developments in the US-Iran talks, energy markets and shipping conditions around the Strait of Hormuz for developments that could influence regional markets in the coming sessions.
