MIDEAST STOCKS-Dubai leads major Gulf markets up as financials rise | Nasdaq

MIDEAST STOCKS-Dubai leads major Gulf markets up as financials rise | Nasdaq:

Major stock markets in the Gulf rose in early trade on Wednesday, with financial shares boosting the Dubai index.

Saudi Arabia's benchmark index .TASI edged up 0.2%, supported by a 0.8% gain in Jabal Omar Development 4250.SE and 0.2% increase in Al Rajhi Bank 1120.SE.

However, the index's gains were capped by losses at oil behemoth Saudi Aramco 2222.SE, which declined 0.8%.

Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp BPCL.NS, Reuters reported on Wednesday, citing sources familiar with the matter, as low oil prices and weak demand curb their investment plans.

Dubai's main share index .DFMGI gained 0.8%, with Emirates NBD Bank ENBD.DU rising 2.4% and logistic firm Aramex

ARMX.DU jumping 3.3%.

The Abu Dhabi index .ADI rose 0.1%, with Emirates Telecommunications ETISALAT.AD gaining 0.5%, while Abu Dhabi National Oil Company for Distribution ADNOCDIST.AD advanced 2% after approving payment of an interim cash dividend of 10.285 fils per share for the first six months of 2020. 


In Qatar, the index .QSI added 0.6%, led by a 2.1% rise in Qatar Fuel QFLS.QA and a 0.9% increase in Qatar Islamic Bank QISB.QA.

Kuwait is closed following the death of its Emir Sheikh Sabah al-Ahmad al-Sabah.