Gulf markets mixed on Tuesday before US data

Gulf stock markets had a mixed start on Tuesday as investors awaited US Federal Reserve interest rate decisions and upcoming inflation data, as reported by Reuters.

In Saudi Arabia, the benchmark index rose 0.2 per cent, led by gains in various sectors, with Saudi Awwal Bank up 1.5 per cent and Mouwasat Medical up six per cent. Seera Group saw a 4.3 per cent increase, driven by strong financial performance.

In Abu Dhabi, the index was up 0.1 per cent, with TAQA and First Abu Dhabi Bank gaining 1.5 per cent and 0.7 per cent, respectively. Dubai’s index edged up 0.1 per cent, supported by gains in multiple sectors.

The Qatari index declined 0.2 per cent, with Masraf Al Rayan and Qatar Navigation falling 4.7 per cent and 1.1 per cent, respectively, while Qatar National Bank rose 0.8 per cent.

The upcoming PCE price index data on Friday could impact market sentiment regarding potential rate cuts.

Gulf currencies are closely tied to the dollar, so any US monetary policy changes may influence regional markets.