Gulf’s most bourses closed lower on Wednesday as investors ready for a hefty interest rate hike from the U.S. Federal Reserve, while escalating tension between Russia and Ukraine added to concerns.
Saudi Arabia’s benchmark index – TASI dropped 0.4 percent to 10,094, hit by 0.6 percent falls in both Al Rajhi Bank and oil giant Saudi Aramco.
Dubai’s main share index – DFMGI decreased 1.1 percent to 3,461 with blue-chip developer Emaar Properties retreating 2.3 percent.
Abu Dhabi’s index – FTFADGI ended 0.4 percent lower to 10,094, while the Qatari index – QSI fell 1.4 percent to 12,758 with 17 of its 20 stocks trading in negative territory.
Elsewhere, Bahrain’s index – BAX eased by 0.2 percent to 1,932, Oman’s MSX30 added 0.7 percent to 4,509, and Kuwait’s stock index – BKP declined by 0.6 percent to 8,387.
