Gulf stocks slide, Kuwait suspends trading as Iran responds to US-Israel attacks| Business News
Most Gulf equities fell on Sunday and Boursa Kuwait suspended trading after US and Israeli strikes on Iran prompted retaliatory attacks across nearby US targets in Gulf cities, fanning fears of prolonged regional instability. Smoke rises after an Iranian drone attack in the port area of Dubai on Sunday, 1 March 2026. (AP) Witnesses reported blasts in the Dubai area and over Doha for a second day on Sunday, as Iran’s retaliation for US-Israeli strikes that killed Iran’s Supreme Leader Ayatollah Ali Khamenei forced major regional airports including Dubai to shut, in one of the biggest disruptions to global aviation in years. Trading in Middle East markets is an early indicator of how investors measure any impact on assets from oil to safe-haven currencies and gold. Analysts at Barclays raised their Brent crude forecast to about $100 a barrel on Saturday from an earlier estimate of $80. In a rare move, Boursa Kuwait suspended trade until further notice citing the “exceptional circumstances” the country is facing. In Saudi Arabia, the region’s biggest stock market, the benchmark index pared its losses to trade 2% lower compared with a 4.6% drop early in the session. Al Rajhi Bank fell 2.8% while Saudi National Bank and budget airline Flynas were down 4.8% and 5.8%, respectively. Saudi Aramco advanced 2.6% amid expectations of rising oil prices. The kingdom on Saturday said Iran had attacked Riyadh and the country’s eastern region. “GCC markets are likely to remain under pressure as investors price in a higher and potentially prolonged geopolitical risk premium following recent escalation in the region,” said Tahir Abbas, head of research at Oman’s Ubhar Capital. “While higher oil prices provide a near-term fiscal cushion for regional governments, the more material concern is the risk of affected shipping routes, particularly through the Strait of Hormuz, which would have broader implications for energy flows and trade.” Gulf stock markets face heightened correction risk and volatility as geopolitical tension drives a risk-off mood, pressuring prices and expectations, said XTB MENA Senior Market Analyst Hani Abuagla. Investors will track regional developments and any further escalation or real-economy damage could deepen the selloff, he said. The Muscat stock index trimmed its decline to 1.8% after sliding more than 3% in a broad-based selloff, with heavyweight OQ Base Industries falling 1.3%. Bahrain’s stock index was down 0.9% and Qatar’s stock exchange was closed for a bank holiday. Outside the Gulf, Egypt’s blue-chip index slumped 5.5% in early trade with all of its constituents in the red. Disruption to shipping traffic through the Strait of Hormuz also remains a key risk, weighing on sentiment and disrupting normal operations across a range of sectors, Abuagla said.
Maruti Suzuki up 7.13%, Mahindra up 19%| Business News
Updated on: Mar 01, 2026 12:48:54 PM IST The Maruti Suzuki Victoris, the latest offering from India’s largest carmaker. India’s biggest automakers, including the likes of Maruti Suzuki India Ltd. to Tata Motors Passenger Vehicles Ltd. and Royal Enfield, are reporting their auto sales in February 2026 amid expectations of a double-digit growth. Auto sales in February 2026 likely grew in the teens compares to a year ago, as the tailwinds of a GST rate cut on cars and new models continued to attract buyers to the showroom floor, according to Nuvama Institutional Research. “PV industry volumes likely to rise in teens in February 20226 (over 10% YoY in domestic market) supported by better affordability, new products and adequate financing availability.” Against that backdrop, here’s a look at which automaker sold how much in the month gone by. …Read More “PV industry volumes likely to rise in teens in February 20226 (over 10% YoY in domestic market) supported by better affordability, new products and adequate financing availability.” Against that backdrop, here’s a look at which automaker sold how much in the month gone by. Follow all the updates here: Mar 01, 2026 12:48:54 PM IST Auto sales in February 2026: Hyundai India Hyundai Motor India Ltd. has registered its highest ever February sales on the back of a 25% surge in exports. Hyundai India sales in February 2026 • India sales up 9.8% YoY at 52,407 units • Exports up 24.8% YoY at 13,727 units • Total sales up 12.6% YoY at 66,134 units “We kicked off 2026 with our highest ever monthly sales in January and the momentum continues in February,” Tarun Garg, chief executive officer at Hyundai India, said in a statement. Mar 01, 2026 12:31:15 PM IST Auto sales in February 2026: Mahindra Auto The auto sales of Mahindra & Mahindra Ltd. rose by nearly a fifth in February 2026 as outsized demand for its oversized cars continued unabated. Mahindra Auto sales in February 2026 • SUV sales up 19.03% YoY at 60,018 units • CV sales up 43.70% YoY at 9,190 units • Exports up 10.59% YoY at 3,384 units • Total sales up 18% YoY at 97,177 units Mar 01, 2026 12:16:36 PM IST Maruti Suzuki sales up 7.3% in February 2026 Sales of Maruti Suzuki India Ltd. rose in high single-digit percentages in February 2026, on the back of a surge in exports. Maruti Suzuki sales in February 2026 • Total India sales up 0.13% YoY at 161,000 units • OEM sales down 6.8% YoY at 10,710 units • LCV sales up 15,49% YoY at 3,130 units • Exports up 56.48% YoY at 39,155 units • Total sales up 7.31% YoY at 2,13,995 units
