Most Middle Eastern stock markets rose marginally on Thursday, with Saudi's index inching up after breaching technical support in the last session.

Saudi Arabia's index was up 0.1 percent, a day after breaching its 200-day average for the first time in three weeks.

Middle East funds have become more wary, but not outright bearish, toward Saudi Arabia's stock market because of concern over the fallout from the killing of Jamal Khashoggi, a monthly Reuters poll showed on Wednesday.

Foreign investors, including those from other Gulf states, were net sellers of Saudi equities for most of this month, partly because of fear that Khashoggi's death could damage Saudi ties with the West and conceivably lead to economic sanctions.

But the poll of 13 Middle Eastern fund managers, conducted over the past week, suggested most funds do not intend to continue selling.

Saudi Cement  rose 3.1 percent and petrochemical firm Saudi Kayan was up 1.8 percent.

The Qatar index  fell 0.5 percent, pulled down by bank shares. Qatar National Bank lost 2.5 percent on profit-taking and Qatar Islamic Bank shed 1 percent.

Commercial Bank was down 1.1 percent at 41 riyals after brokerage EFG Hermes cut its target price to 36.1 riyals from 37.9 riyals.

The Dubai index was up 0.6 percent, with Emaar Properties adding 2.8 percent after it said it is in talks with a number of parties for the sale of some hotels.

Abu Dhabi National Hotels is in talks to buy some hotel buildings from Emaar, Reuters reported on Wednesday, citing two sources familiar with the matter.

Aramex increased 3.8 percent after posting a 37.8 percent rise in its third-quarter profit, but Dubai Investments lost 0.6 percent after its profit fell in the same period.

Abu Dhabi's index inched up 0.2 percent, boosted by a 0.6 percent gain in First Abu Dhabi Bank and a 2.9 percent rise in Union National Bank. The company provided an update on its potential merger with Abu Dhabi Commercial Bank, which was down 1.7 percent.

 

(Reporting by Abinaya Vijayaraghavan in Bengaluru, editing by Larry King) ((abinaya.vijayaraghavan@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 2733; Reuters Messaging: abinaya.vijayaraghavan.thomsonreuters.com@reuters.net))