LONDON- Dollar bonds from Saudi Arabia and Qatar led a rally in Gulf debt markets on Wednesday, after they gained entry into JP Morgan's widely- followed emerging market indexes.

Saudi Arabia's 2046 bond rose 1.5 cents  while a 2042 Qatar bond climbed 0.8 cents, data from Tradeweb showed.

Sovereign and quasi-sovereign debt issuers from Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait will all become eligible for the EMBI Global Diversified (EMBIGD), EMBI Global (EMBIG) and EURO-EMBIG indexes. 

Their entry will be phased in between Jan. 31 and Sept. 30. Both conventional bonds and sukuk, or Islamic bonds, will be eligible for inclusion in indexes, but sukuk will need to have a credit rating from at least one of the three major rating agencies to be included.

(Reporting by Marc Jones; editing by Sujata Rao) ((; +44 (0)207 542 9033; Reuters Messaging: Twitter @marcjonesrtrs))