Most stock markets in the Gulf ended higher on Tuesday on rising oil prices amid expectations that the OPEC+ producer group would deepen and extend output cuts. Oil prices - a catalyst for the Gulf's financial markets - were up 1.1% on Tuesday with Brent trading at $80.82 a barrel by 1240 GMT.

OPEC+, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, is due to hold a ministerial meeting on Thursday to discuss production targets for 2024.

Dubai's benchmark index was up for a third consecutive session, ending 0.4% higher, with almost all sectors in the green. The real estate developer Emaar Properties surged 2.7% and Emirate's largest lender Emirates NBD climbed 1.1%.

In Abu Dhabi, the benchmark index rose 0.3%, helped by a 1.1% gain in conglomerate Alpha Dhabi and 1.8% surge in Abu Dhabi National Oil Company for Distribution.

Saudi Arabia's benchmark index gained 0.2%, snapping the previous session of losses, supported by gains in energy, finance, healthcare and materials sectors. Lumi Rental advanced 2.4% and Dr Sulaiman Al Habib Medical Services climbed 3.7%.

The Qatari index was down for a fifth straight session and ended 0.2% lower, weighed down by a 0.9% drop in Industries Qatar and 2.7% decline in Qatar Navigation. However, the Gulf's largest lender, Qatar National Bank , and Qatar Islamic Bank gained 0.8% and 0.9% respectively.

Outside the Gulf, Egypt's blue-chip index dropped 3% with all sectors in the red. Commercial International Bank declined 4.8% and Eastern Co lost 4.4%.

  • SAUDI ARABIA rose 0.2% to 11,101
  • KUWAIT added 0.1% to 7,272
  • QATAR lost 0.2% to 10,007
  • EGYPT dropped 3% to 25,122
  • BAHRAIN added 0.1% to 1,951
  • OMAN was up 0.1% to 4,633
  • ABU DHABI rose 0.3% to 9,541
  • DUBAI gained 0.4% to 4,009

(Reporting by Md Manzer Hussain; editing by Christina Fincher)