Most Gulf stock markets were subdued in early trade today as escalating US-Iran tensions keep investors cautious, although higher oil prices have supported energy shares in Saudi Arabia, Reuters reports.
Dubai’s benchmark index has fallen 0.3pc, with most sectors in negative territory. Dubai Islamic Bank has lost 0.8pc, while Emirates Integrated Telecommunications, known as du, has declined 2pc.
Abu Dhabi’s benchmark index slipped 0.3pc, weighed down by health care, real estate and financial shares. Abu Dhabi Ports, however, has extended gains after surging 14.9pc in the previous session.
Qatar’s benchmark index has edged down 0.2pc, dragged by a 0.8pc fall in Qatar National Bank and a 1.2pc decline in Qatar Fuel. Industries Qatar, however, has risen 1.6pc.
Saudi Arabia’s benchmark index rose 0.3pc, supported by gains in materials, energy and financial stocks.
