Mideast Stocks: Saudi bourse starts 2026 on a positive note

Saudi Arabia's stock market rose on Thursday in the first session of the New Year, while most other regional bourses remained closed.

Saudi Arabia's benchmark index <.TASI> gained 0.6%, supported by broad-based buying led by consumer staples, information technology and utilities. Riyad Bank <1010.SE> rose 1.7% and ACWA Power <2082.SE> added 1.2%.

Saudi Arabia's National Debt Management Center said on Wednesday it had completed arrangements for a $13 billion, seven-year syndicated loan to help finance power, water and public utilities projects.

Among individual stocks, Al Khaleej Training and Education <4290.SE> jumped 7.6% after its unit signed a contract with the Saudi Electricity Regulatory Authority to operate and manage the authority's contact centre and digital channels.

In Oman, the stock index <.MSX30> edged up 0.5%, with most constituents higher. OQ Exploration and Production <OQEP.OM> gained 1.4% and Oman Telecommunications <OTEL.OM> climbed 1.6%.

Separately, Oman approved its 2026 budget on Thursday with a deficit of 530 million Omani rials ($1.38 billion), equivalent to 1.3% of GDP, state news agency reported. 

(Reporting by Md Manzer Hussain; Editing by Ros Russell)