DUBAI: Most stock markets in the Gulf ended little changed on Sunday and the Saudi index dipped, with weaker oil prices dampening sentiment after earlier gains fuelled by dovish signals from the US Federal Reserve.
Oil prices, a catalyst for the Gulf’s financial markets, fell on Friday, with a possibility of a ceasefire in Gaza, the stronger dollar and lower US gasoline demand all weighing.
The Qatari benchmark index was up marginally with gains in communication services, materials, consumer staples, and energy sectors offsetting the losses in finance, industry and real estate.
Qatar Gas Transport and Ooredoo rose 0.7% and 1.1%, respectively, while Qatar National Bank, the region’s largest lender, and Industries Qatar both closed down 0.3%.
Saudi Arabia’s benchmark index retreated 0.3%, after a previous session of gains with almost all sectors in the red.
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