DUBAI: Stock markets in the Gulf put in a mixed performance while the Qatari index hit a six-month low on Thursday after the US Federal Reserve downplayed risks of an interest rate hike.
Saudi Arabia’s benchmark stock index rose 0.1%, supported by gains in most sectors, led by IT, utilities and real estate stocks.
Acwa Power gained 1.7% and Middle East Pharmaceutical added 1.8% while Saudi Basic Industries known as SABIC fell 1.6%.
The petrochemical group SABIC reported a 62% drop in first-quarter net profit on Wednesday.
Dubai’s benchmark index bounced back after two straight sessions of losses and ended 0.2% higher, helped by gains in consumer staples, real estate, finance and industry sectors. Emaar Properties rose 2.5% and Dubai Islamic Bank added 1.1%.
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