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Gulf stock markets rise on oil-price boost ahead of Fed event
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Gulf share-markets rose sharply, backed by higher oil prices and positive sentiment ahead of the Fed’s policy meeting.
Most Gulf bourses climbed on Wednesday, buoyed by rising crude oil prices and positive global sentiment ahead of the Federal Reserve’s upcoming policy decision. The Saudi Tadawul index rose about 0.7% to its highest level in six months, led by gains in major banking and energy names. In the Dubai Financial Market General Index stocks like Salik and Emirates NBD advanced. Investors pointed to expectations of steady demand for oil and Middle-East equities as global liquidity remains favourable.