Markets Wrap MENA 5 July: Egypt Leads Sunday Gains as Kuwait and Qatar Rise While Saudi Slips After OPEC Plus Move
MENA equity markets ended Sunday mixed to higher across the active regional sessions, with Egypt leading gains and Kuwait and Qatar closing in positive territory, while Saudi Arabia slipped after seven OPEC Plus countries, including Kuwait, agreed to raise August oil output by 188,000 barrels a day.
With Asian, US and European markets closed for the weekend, and UAE markets already closed after their Friday session, Sunday’s active regional picture was concentrated in Egypt, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman.
MENA equity closes, 5 July 2026
| Index | Close | Change | Change % |
|---|---|---|---|
| Egypt EGX 30 | 51,130.89 | +598.19 | +1.18% |
| Qatar QE Index | 10,246.22 | +35.06 | +0.34% |
| Kuwait Premier Market | 9,117.48 | +24.84 | +0.27% |
| Kuwait All Share | 8,697.13 | +0.71 | +0.01% |
| Oman MSX 30 | 7,564.22 | −11.00 | −0.15% |
| Saudi Arabia TASI | 10,798.97 | −28.01 | −0.26% |
| Bahrain All Share | 2,024.37 | −11.29 | −0.55% |
Latest UAE close, Friday 3 July 2026
| Index | Close | Change | Change % |
|---|---|---|---|
| Dubai DFM General | 6,059.14 | +68.55 | +1.14% |
| Abu Dhabi FADGI | 9,900.80 | +91.16 | +0.93% |
Egypt was the standout. The EGX 30 rose 1.18 percent to 51,130.89, while the EGX 70 index of smaller companies climbed 1.74 percent, pointing to buying across the wider market rather than only the blue chips. That outperformance matters because Egypt’s gain was both broad and domestic-sector led, with real estate, industrial and selected consumer-linked shares offsetting weakness in banks and basic resources.
Kuwait finished modestly higher. The Premier Market Index gained 0.27 percent to 9,117.48, while the broader All Share Index was nearly flat, up 0.01 percent to 8,697.13. The split suggests support from large-cap names but less conviction across the wider market. Real estate and selected banks helped cushion the session, while softness in smaller names limited the broader index.
Qatar also closed higher, with the QE Index up 0.34 percent to 10,246.22, extending the constructive tone across part of the Gulf. Oman eased 0.15 percent to 7,564.22, while Bahrain fell 0.55 percent to 2,024.37.
Saudi Arabia was the main regional laggard among the larger active markets. The TASI slipped 0.26 percent to 10,798.97, with the market digesting the OPEC Plus decision to continue unwinding voluntary cuts. The move adds supply, but the cautious monthly increase also signals that producers still want flexibility rather than a rapid return of all curtailed barrels.
The day’s main catalyst was the OPEC Plus decision. The seven countries unwinding voluntary cuts, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, agreed to implement an August production adjustment of 188,000 barrels a day from the additional voluntary cuts first announced in April 2023. OPEC said the countries will continue monthly reviews and meet again on 2 August 2026.
For Kuwait, the required production level rises to 2.660 million barrels a day, keeping the country within the gradual supply normalisation path rather than a sharp output shift. That matters for the fiscal and market outlook because higher allowed production can support oil revenue volumes, while the measured scale of the increase reduces the risk of a sudden price shock.
Oil prices stayed near recent levels, with Brent crude around 72 dollars a barrel and West Texas Intermediate near 69 dollars, while gold traded around 4,175 dollars an ounce. These commodity levels suggest investors treated the OPEC Plus decision as incremental rather than disruptive.
Why it matters: Sunday’s session shows MENA equities holding a broadly constructive tone outside Saudi Arabia, with Egypt’s broad rally and modest gains in Kuwait and Qatar offsetting weakness in Saudi Arabia, Bahrain and Oman. For regional investors, the split reflects how the OPEC Plus supply decision cuts differently across markets. Oil-linked Saudi sectors were more exposed to supply headlines, while Egypt and parts of the Gulf benefited from domestic buying, banks, real estate and improving regional risk appetite. The next fuller read comes on Monday, when Asian and global markets reopen and UAE trading resumes after the weekend.
Sources: Saudi Exchange; Boursa Kuwait; Qatar Stock Exchange; Bahrain Bourse; Muscat Stock Exchange; Egyptian Exchange; Dubai Financial Market; Abu Dhabi Securities Exchange; OPEC; market data.
