Most Gulf Stock Exchanges Close Higher

Most stock markets in the Gulf region closed higher on Monday amid widespread expectations that the Federal Reserve (the U.S. central bank) will decide not to raise interest rates. According to the CME Group's "FedWatch" service, 73.6% of market participants expect the Federal Reserve not to raise interest rates during its monetary policy meeting, while 26.4% expect a 25 basis point increase. The Saudi index rose by 0.2%, recovering from minor losses in the previous session, driven by gains in the materials, health, and finance sectors, after the stock of "Jabal Omar" increased by 2.1% and the stock of the Saudi Industrial Investment Group rose by 3.9%. The Abu Dhabi index also rose by 0.1%, maintaining gains from previous sessions, supported by a 2.2% increase in the stock of "ADNOC Drilling," a 0.8% rise in "Alpha Dhabi" Holding, and a 0.6% increase in the stock of First Abu Dhabi Bank.