Gulf stock markets fell on Wednesday on falling oil prices, while Saudi Arabia's shares edged up following two consecutive declines.
Saudi Arabia's benchmark stock index edged up 0.1% after previous session decline, supported by over 1% hike in Elm Company and a 1.2% lift in telecoms firm Etihad Atheeb Telecommunication.
Shares in insurer Saudi Enaya also surged 6.7% after saying its shareholders disapproved a take-over offer submitted by another rival United Cooperative Assurance , which was top loser on the index.
Separately, Saudi Arabia said on Tuesday it will offer tax incentives for foreign companies that locate their regional headquarters in the kingdom, including a 30-year exemption for corporate income tax.
Dubai's main share index fell 0.1%, in a fifth days of losing streak, led by losses in property and financial stocks, with blue-chip developer Emaar Properties decreasig 1.2% and Dubai Islamic Bank easing 0.4%.
In Abu Dhabi, the benchmark index was down 0.6%, extending losses to second consecutive session, led by a 0.7% drop in First Abu Dhabi Bank, the United Arab Emirates' biggest lender, and a 1.6% fall in Emirates Telecommunications Group.
Qatar's benchmark also fell 0.6%, its fourth negative day in a row, with most of its individual stocks in negative territory led by financial stocks. Qatar National Bank , the Gulf's largest lender, and Qatar Islamic Bank was down 1% and 0.8% respectively.
(Reporting by Shamsuddin Mohd in Bengaluru)