Gulf stock markets moved sideways in early trade on Thursday with few fresh incentives, after global bourses and oil prices lacked direction overnight.
Saudi Arabia's stock index edged down 0.1 per cent in the first 20 minutes after profit taking in some second-tier petrochemical stocks which had surged on Wednesday.
Petrochem continued climbing, however, adding 3.0 per cent.
The banking sector index outperformed slightly, rising 0.2 per cent after money supply data released late on Wednesday showed commercial bank deposits rose to their highest level this year in November.
Dubai's stock index slipped 0.3 per cent as Emaar Properties sagged 1.5 per cent.
Abu Dhabi climbed 0.4 per cent on the back of a 1.4 per cent surge in National Bank of Abu Dhabi.
Qatar First Bank jumped 1.6 per cent and was the most heavily traded stock in the Qatari market, where the index edged up 0.1 per cent, according to Reuters.
-SRS-
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