Most stock markets in the Gulf ended higher on Tuesday, led by the Saudi index amid volatile oil prices, while Egypt stocks dropped after three sessions of record runs.
Saudi Arabia's benchmark index advanced 0.5%, supported by gains in most sectors, with Acwa Power rising 2.6% and Al Rajhi Bank, the world's largest Islamic lender, adding 0.4%.
Among the gainers, Saudi Aramco rose 0.5% after JP Morgan raised the target price to 35 riyals from 34.5 riyals.
Oil giant Saudi Aramco also participated in $80 million Series A fundraising for Los Angeles-based CarbonCapture.
Dubai's benchmark index edged up 0.1%, helped by gains in almost all sectors with Tecom Group rising 2.2% and Al Ansari Financial Services adding 1.8%.
In Abu Dhabi, the benchmark index fell marginally, dragged down by a 0.4% dip in conglomerate Alpha Dhabi and 0.3% drop in UAE's largest lender First Abu Dhabi Bank. However, the blue-chip developer Aldar Properties gained 1.8%.
The Qatari benchmark index dipped slightly to trade flat as gains in materials, utilities, industry, and energy stocks countered losses in finance, consumer staples and real estate stocks.
Dubai's benchmark index edged up 0.1%, helped by gains in almost all sectors with Tecom Group rising 2.2% and Al Ansari Financial Services adding 1.8%.
In Abu Dhabi, the benchmark index fell marginally, dragged down by a 0.4% dip in conglomerate Alpha Dhabi and 0.3% drop in UAE's largest lender First Abu Dhabi Bank. However, the blue-chip developer Aldar Properties gained 1.8%.
The Qatari benchmark index dipped slightly to trade flat as gains in materials, utilities, industry, and energy stocks countered losses in finance, consumer staples and real estate stocks.
Mesaieed Petrochemical and Qatar Aluminum Manufacturing Co climbed 2.6% and 2.1%, respectively, while Qatar National Bank, the region's largest lender, slipped 1.3%.
"Markets were in an uncertain direction as uncertainty in oil markets and geopolitical tensions weighed on sentiment", said Daniel Takieddine, CEO MENA at BDSwiss.
Oil prices - a catalyst for the Gulf's financial markets - were volatile with Brent settling at $82.1 a barrel by 1300 GMT.
Outside the Gulf, Egypt's blue-chip index slumped 2.2% after three straight sessions of gains, with almost all stocks in the red. Commercial International Bank dropped 2.6% and, Eastern Co sunk 6.2%.
"Markets were in an uncertain direction as uncertainty in oil markets and geopolitical tensions weighed on sentiment", said Daniel Takieddine, CEO MENA at BDSwiss.
Oil prices - a catalyst for the Gulf's financial markets - were volatile with Brent settling at $82.1 a barrel by 1300 GMT.
Outside the Gulf, Egypt's blue-chip index slumped 2.2% after three straight sessions of gains, with almost all stocks in the red. Commercial International Bank dropped 2.6% and, Eastern Co sunk 6.2%.
Meanwhile, Egypt declined to accept any bids at an auction of three- and five-year local currency treasury bonds, bankers said on Tuesday.
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