Mideast Stocks: Gulf moves sideways early on, petchems support Saudi | ZAWYA MENA Edition:
Most Gulf stock markets moved sideways in thin trading early on Sunday with petrochemicals supporting Saudi Arabia and real estate shares remaining soft in Dubai.
The Saudi stock index was up 0.5 percent after half an hour of trade with 11 of 14 petrochemical stocks higher and only two lower. The biggest, Saudi Basic Industries, added 0.7 percent.
Institutional investor aappeared less active because of global holiday season, leaving an unusually high protion of volume focused on second- or third-tier stocks. Home furnishings company Al Sorayai Trading and Industrial was the most heavily traded stock, rising 0.9 percent.
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