(Reuters) – Most major Gulf stock markets slipped in early trade on Thursday, pressured by losses in financial shares, while petrochemical firms supported the Qatari index.
Saudi Arabia’s benchmark index .TASI eased 0.3%, driven down by a 0.4% fall in Al Rajhi Bank 1120.SE and a 0.8% decline in Riyad Bank 1010.SE.
Dubai’s main share index .DFMGI slipped 0.2%, pressured by a 0.5% fall in Emirates NBD Bank ENBD.DU and a 0.7% slide in Emaar Properties EMAR.DU.
In Abu Dhabi, the index .ADI lost 0.4%, with the country’s largest lender First Abu Dhabi Bank FAB.AD declining 0.5% and Emirates Telecommunications ETISALAT.AD was down 0.2%.
Abu Dhabi National Oil Company will reduce crude oil supplies to term buyers by 25% in November as part of its commitment to the OPEC+ deal, a notice seen by Reuters showed and sources with knowledge of the matter said.
The Qatari index .QSI edged up 0.2%, helped by a 3.3% jump in Mesaieed Petrochemical Holding MPHC.QA and a 1% gain in petrochemical maker Industries Qatar IQCD.QA.
Reporting by Ateeq Shariff in Bengaluru; editing by Uttaresh.V