Most major Gulf markets fall ahead of Fed decision | Reuters

Most major Gulf markets fall ahead of Fed decision | Reuters

Most major Gulf markets fell in early trade on Wednesday ahead of a policy decision from the Federal Reserve later, while the Israel-Hamas conflict also weighed on investor sentiment.

Israel said its fighter jets killed a Hamas commander in a strike on a densely populated refugee camp in Gaza, an attack that also killed at least 50 Palestinians as fighting intensified in the enclave where food, fuel and supplies are running scarce.

At least 8,525 Palestinians, including 3,542 children, were killed in Israeli strikes on Gaza since Oct. 7 , the health ministry in Hamas-controlled Gaza said on Tuesday.

Saudi Arabia's benchmark index (.TASI) fell 0.3%, hit by a 0.6% fall in oil giant Saudi Aramco (2222.SE) and a 0.6% decrease in Al Rajhi Bank (1120.SE).

However, Cargo business SAL Saudi Logistics Services Co (4263.SE) rose up to 30% to 137.80 riyals ($36.73) in its trading debut, from its initial public offering price of 106 riyals.

On the Saudi stock exchange, newly listed stocks are allowed to rise or fall up to 30% on their first three days of trading.

Separately, Saudi central bank net foreign assets rose by $12.8 billion in September from previous month, central bank data showed on Tuesday.

Dubai's main share index (.DFMGI) dropped 0.3%, hit by a 1.2% fall in top lender Emirates NBD (ENBD.DU) and a 0.6% decrease in blue-chip developer Emaar Properties (EMAR.DU).

The Abu Dhabi, index (.FTFADGI) eased 0.1%, with Emirates Telecommunications Group (EAND.AD) losing 0.4%, despite reporting a rise in quarterly profit.

The Qatari index (.QSI), however, added 0.4%, helped by a 1.4% rise in petrochemical maker Industries Qatar (IQCD.QA).