Most major Gulf stocks extend losses; banks boost Saudi

Most major Gulf stocks indexes fell on Tuesday, extending losses from the previous session, as nervous investors continued to sell due to weak oil prices, while bargain buying supported Saudi equities.

In Abu Dhabi, the index declined 1 percent . First Abu Dhabi Bank, the country’s largest lender, traded 2.8% lower, while Abu Dhabi Commercial Bank was down 2.5 percent .

Dubai’s main share index retreated 0.8%, pressured by a 4.3% fall in blue-chip developer Emaar Properties and a 4.8 percent drop in its unit Emaar Development.

The Qatari index slipped 0.6 percent with Qatar Islamic Bank losing 2.5 percent and Qatar Fuel Company easing 1.2 percent .