Gulf markets steadied on Tuesday even as investors remained cautious amid a prolonged Israeli air raid on the Gaza Strip, while Egypt recovered after reaching a preliminary loan deal for $4.8 billion with the International
Monetary Fund.
Saudi Arabia's index, the largest Gulf market, ended at a five-week low, although bourse selling pressure eased
following a sustained slump. The kingdom's index eased 0.07 percent, its ninth straight decline.
Insurance stocks rallied, with the sector's index closing 1.1 percent higher. The sector, which constitutes only a
small part of total market capitalisation, dominates trade, signalling nervous investors are looking beyond bluechip stocks for short-term gains.
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