Most stock markets in the Gulf were down on Monday amid concern over escalating violence in Gaza and the fear that the conflict could spread beyond Israel and Hamas into the region.
Israel has imposed a full blockade and is preparing a ground invasion to enter Gaza and destroy Hamas, which has continued to fire rockets at Israel since its brief cross-border assault.
Dubai's benchmark index (.DFMGI) dropped 0.6%, dragged down by losses in the finance and communications sectors with Emaar Properties (EMAR.DU) slumping 2.8% and Dubai Islamic Bank (DISB.DU) sliding 1.6%.
The Qatari index (.QSI) was down 0.8%, ending its four-session winning streak with most stocks in the red.
Industries Qatar (IQCD.QA) dropped 1.2% and Qatar Islamic Bank (QISB.QA) lost 1.3%.
In Abu Dhabi, the benchmark index (.FTFADGI) fell marginally with Multiply Group (MULTIPLY.AD) and Abu Dhabi Commercial Bank (ADCB.AD) shedding 1.1%. However, Alpha Dhabi (ALPHADHABI.AD) rose 2.7% and ADNOC Gas (ADNOCGAS.AD) gained 1.6%.
Saudi Arabia's benchmark index (.TASI) ended 0.8% higher, supported by gains in most sectors with Saudi Telecom (7010.SE) gaining 2.8% and Savola Group (2050.SE) advancing 10%.
"The Saudi stock market stabilized to a certain extent after seeing significant losses during the last three months," said George Khoury, Global Head of Education and Research at CFI.
Separately, Saudi Arabia's annual inflation eased to 1.7% in September from 2% the previous month, government data showed on Sunday.
Outside the Gulf, Egypt's blue-chip index (.EGX30) was up for a third straight session, surging 3.5%, the highest climb in nearly six months.
The index was lifted by gains in almost all stocks with Abu Qir Fertilizers and Chemical Industries(ABUK.CA) shooting up 18.6% and Misr Fertilizers Production Co (MFPC.CA) climbing 20%.
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