Most stock markets in the Gulf ended lower on Thursday amid persistently weak oil prices and a string of lackluster corporate earnings reports.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.7%, hit by a 0.6% fall in Al Rajhi Bank (1120.SE), opens new tab and a 1.4% decrease in Saudi National Bank (1180.SE), opens new tab.
Elsewhere, oil behemoth Saudi Aramco (2222.SE), opens new tab lost 0.4%.
Oil prices - a catalyst for the Gulf's financial markets - edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply with looming sanctions against Russia's Lukoil.
The world oil market will see a small surplus in 2026 after OPEC+ production increases and higher supply from other producers, an OPEC report showed on Wednesday, a further shift from its earlier projections of a deficit.
Dubai's main share index (.DFMGI), opens new tab retreated 0.8%, weighed down by a 4.7% slide in Emirates NBD (ENBD.DU), opens new tab, while Salik Company (SALIK.DU), opens new tab was down 1.9%. The toll operator reported a year-over-year increase in third-quarter net profit, but experienced a sequential decline from the previous quarter.
In Abu Dhabi, the index (.FTFADGI), opens new tab lost 0.4%, with Presight AI Holding (PRESIGHT.AD), opens new tab plunging 9.8%, despite reporting a rise in quarterly profit.
The Qatari index (.QSI), opens new tab tumbled 1.1%, with Qatar Islamic Bank (QISB.QA), opens new tab declining 2.4%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.1%, with Commercial International Bank (COMI.CA), opens new tab falling 1.7%.
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