Most stock markets in the Gulf were up in early trade on Tuesday, but Qatar slipped due to losses across most sectors.
Dubai’s benchmark stock index rose 0.4%, rebounding after losses in the previous session, with Commercial Bank of Dubai adding 4.1% and Emaar Properties advancing 1.7%.
The Abu Dhabi benchmark index was up 0.6%, supported by a 0.6% rise in International Holding Company and a 2.6% gain in ADNOC Gas.
Among other gainers on the day, Phoenix Group added 3% after it said its founders were planning to purchase the company’s shares on the open market.
Saudi Arabia’s benchmark stock index extended its rally to a third session, rising 0.3%, with most sectors in the green.
ACWA Power gained 0.5% and Saudi Electricity added 0.7%.
ACWA and a consortium of Saudi Electricity Co and Korea Electric Power Corp signed power purchase agreements worth 15 billion riyals ($4 billion) with the Saudi Power Procurement Company. Saudi Aramco climbed 0.7%.
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The oil major said that the company and Sinopec Corp have started constructing a refinery and petrochemical complex in southeast China’s Fujian province.
The Qatari benchmark index fell 0.2%, dragged down by losses among most sectors, with Qatar International Islamic Bank sliding 0.7%, and Ooredoo Qatar shedding 0.6%.
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