Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation.

Saudi Arabia's benchmark index was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter.

Among other fallers, Jahez dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit.

The Qatari benchmark index was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance.

Industries Qatar fell 1.9% and Mesaieed Petrochemical shed 1.2%, while Qatar Islamic Bank and Estithmar advanced 0.7% and 7.9% respectively.

Outside the Gulf, Egypt’s blue-chip index extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing.

Orascom Development jumped 5.4% and Sidi Kerir Petrochemicals advanced 2.2%.

Meanwhile, Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency

CAPMAS showed on Sunday.

SAUDI ARABIA dropped 0.3% to 10,899

KUWAIT up 0.6% to 9,320 QATAR ended flat at 11,362

EGYPT rose 0.8% to 36,110

BAHRAIN ended flat at 1,944

OMAN up 0.1% to 4,856

(Reporting by Md Manzer Hussain; Editing by Hugh Lawson)