Stock markets in the Gulf ended mixed on Tuesday ahead of U.S. inflation figures that could set the tone for trading in a week filled with central bank meetings.
The U.S. Federal Reserve is widely expected to hold rates on Wednesday, with the spotlight squarely on comments from Chair Jerome Powell during his news conference, as well as the central bank's economic projections.
Most Gulf Cooperation Council countries, including the UAE, have their currencies pegged to the U.S. dollar and follow the Fed's policy moves closely, exposing the region to the direct impact of monetary tightening in the world's largest economy.
Saudi Arabia's benchmark index (.TAS) gained 0.1%, helped by a 4.4% rise in digital solutions provider Elm Co (7203.SE).
Separately, Saudi state-owned media giant MBC priced its initial public offering (IPO) at the top of the previously announced range, selling its shares at 25 riyals ($6.67) each on Tuesday.
However, oil giant Saudi Aramco (2222.SE) fell 0.3%.
Oil slipped, giving up earlier gains, as concern over excess supply and slowing demand growth outweighed escalating supply risks in the Middle East after an attack by the Iran-aligned Houthis on a tanker.
Dubai's main share index (.DFMGI) edged 0.1% higher, with utility firm Dubai ELectricity and Water Authority (DEWAA.DU) gaining 0.8%.
In Abu Dhabi, the index (.FTFADGI) added 0.4%.
The Qatari benchmark (.QSI) eased 0.1%, hit by a 1% fall in the Gulf's biggest lender Qatar National Bank (QNBK.QA).
The Qatari stock market extended its downtrend and saw negative performances among several major stocks, said George Pavel, General Manager at Capex.com Middle East.
"The market could continue to see downside risks while natural gas prices remain in a slump."
Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.4%, weighed down by a 1.3% fall in Commercial International Bank (COMI.CA).
Egyptians cast their ballots on Tuesday on the third and last day of a presidential election expected to give President Abdel Fattah al-Sisi a sweeping victory in the absence of real competition.
