Most Gulf stock markets rose in early trade on Thursday, tracking gains in global peers and oil prices, although Abu Dhabi extended losses to a second session.

Crude prices- a key catalyst for the Gulf's financial markets - edged up after International Energy Agency (IEA) said oil demand would rise by 2 million barrels per day (bpd) in 2023, with China making up 900,000 bpd of the increase.

Brent was up 0.7%, to $85.92 per barrel by 0745 GMT.

The Qatari Stock index inched up 0.6%, bolstered by gains in banking and industrial sectors with Industries Qatar rising 2% and Masraf Al Rayan gaining 2.4%.

The region's largest lender Qatar National Bank and Qatar Islamic Bank rose 0.7% and 0.6%, respectively.

Mesaieed Petrochemical declined 1.4% after it reported a drop in full-year net profit.

Dubai's benchmark stock index was up 0.1% in early trade, aided by gains in industry sector stocks, with toll operator Salik rising 1.2%.

Dubai's real estate developer Deyaar Development climbed 2.6% after it reported on Wednesday a 187% jump in full-year net profit.

Saudi Arabia's benchmark stock index inched up 0.1%, helped by gains in finance, materials and energy sectors, with world's largest Islamic bank by assets Al Rajhi Bank gaining 0.4% and oil giant Saudi Aramco rising 0.3%.

However, the Saudi's ICT services provider Solutions By Stc slipped 4.7% after it posted a 26.5% jump in full year net profit that missed analysts' estimates.

In Abu Dhabi, the benchmark stock index dropped 0.2%, dragged down by a 0.3% loss in Alpha Dhabi and 0.4% fall in the largest lender by assets First Abu Dhabi Bank .

Among the losers, Americana Restaurants International dropped 2.3% after the firm missed maket estimate of 998.9 million riyals for annual net profit.

Americana posted a 27% jump in 2022 net profit to 972.1 million riyals ($259.23 million).

($1 = 3.7500 riyals)

(Reporting by Md Manzer Hussain; Editing by Rashmi Aich)