Most Gulf markets down; #Dubai gains on strong earnings | Reuters

Most Gulf markets down; Dubai gains on strong earnings | Reuters

Most Gulf bourses fell on Tuesday, mirroring sentiment across the globe, as investors contemplated the implications of a potentially imminent Russian invasion of Ukraine.

Oil prices eased as investors scooped up profits from the previous day's rally to seven-year highs, although lingering concerns that Russia might invade Ukraine and disrupt energy supplies limited losses.

Saudi Arabia's benchmark index (.TASI) fell 0.2% after posting its best day in nearly two months on Monday.

The kingdom's consumer price index rose 1.2% in January from a year earlier, fuelled by higher transport prices, government data showed on Tuesday.B8N2RV00N

Sahara International Petrochemical Company (2310.SE) shed over 1% after it said on Monday that its plants Al Waha And SAMAPCO would go on scheduled maintenance.

However, shares of advertising company Tihama (4070.SE) advanced more than 6%, rising for a third session.

On Thursday, Capital Market Authority approved Tihama's request to reduce its capital.

In Abu Dhabi, the index (.FTFADGI) was down 0.3%.

The Qatari index (.QSI) fell 0.4% with Qatar National Bank (QNBK.QA) down 1%, on course to extend losses from the previous session when it traded ex-dividend.

Bucking the trend, Dubai's main share index (.DFMGI) rose 0.4%, boosted by Air Arabia (AIRA.DU) which jumped over 10% in its biggest daily gain since April.

The airline posted a full-year profit and proposed a dividend.

Emaar Properties (EMAR.DU) said on Monday it had recorded its highest ever property sales in 2021. Shares were up nearly 1%.