The UAE stock markets skyrocketed on Wednesday morning. The US, Israel, and Iran recently agreed to a major military ceasefire. This positive news immediately boosted regional investor sentiment.

Dubai Market Soars

The Dubai Financial Market shot up more than eight percent. The market quickly reached 5,823 points at the opening bell. Almost all shares traded in positive territory today.

Emaar Development, Emirates NBD, and Emaar Properties led this massive rally. Air Arabia and Salik also gained more than nine percent.

Abu Dhabi Exchange Jumps

The Abu Dhabi Securities Exchange surged over five percent. The index hit an impressive 10,063 points early Wednesday. Major banks like FAB and Abu Dhabi Islamic Bank drove these gains.

AD Ports, E7W, and Aldar Properties also jumped more than ten percent.

Recovering from Conflict Losses

Regional markets trended downward since the war started on February 28. The military conflict wiped billions of dollars from GCC stock markets. Investors now hope this new ceasefire agreement holds permanently.

Michael Brown works as a senior research strategist at Pepperstone. He expects market participants to watch the upcoming peace talks closely. Traders also want commodity flows through the Strait of Hormuz to normalize.

Global Markets React

The ceasefire sparked massive rallies across Asian stock markets today. Meanwhile, global oil prices plunged significantly following the peaceful announcement.

Japan’s Nikkei index jumped 4.38 percent to hit 55,771 points. South Korea’s Kospi rocketed 5.7 percent to reach 5,808 points.

Share This Post