GCC - Equity Market Quarterly Fact Book

Most GCC equity markets continued to log gains during Q4 2021 despite the emergence of the Omicron variant of COVID-19. The UAE markets were the most noteworthy gainers during the quarter, while the Bahrain, Oman, Kuwait, and Qatar benchmarks also ended higher in the quarter. The gains recorded during the quarter were largely due to the markets overlooking the quickly spreading but less deadly variant of the virus and consistent efforts by GCC markets to reduce dependency on the oil and gas sector.