The index has lost 8.6% this month in a sell-off triggered by global trade disputes and regional geo-political tensions. The market, however, is still up 8.8% year-to-date driven higher mainly by foreign capital flows into Saudi stocks.
Saudi Arabian mall operator Arabian Centres, which debuted on Wednesday, dipped further by 2% to 24.5 riyals ($6.53) from its initial public offer price of 26 riyals.
Egypt's blue-chip index closed 0.8% higher as Alexandria Mineral Oils jumped 5.6% after its board approved launching a study for the second phase of a heavy refining project to extract high economic-value products.
El Sewedy Electric gained 2.1%. On Tuesday, it partnered with General Authority For Suez Canal Economic Zone to establish a new company with issued capital of 1 billion Egyptian pounds ($59.49 million), in which the firm will own 49%.
Dubai's index rose for its third straight session, up 0.2%, rebounding from as much 1% loss earlier in the session, with most of real estate shares gaining.
Dubai's largest listed developer Emaar Properties rose 1.8%, while its unit Emaar Malls added 1.7%.
The Abu Dhabi index rose 0.6% with First Abu Dhabi Bank, the country's largest lender, adding 0.6%.
J.P. Morgan retained an 'overweight' rating on the stock despite recent price volatility and said it preferred the bank over Abu Dhabi Commercial Bank, which edged up 0.1%.
Dana Gas rose 2.9%. The stock has been gaining since Tuesday when the energy firm said it had started drilling operations at the Merak-1 offshore well in Egypt.
Qatar's index declined 0.3% with Qatar National Bank, the Middle East and Africa's largest lender, dropping 1.2% and Qatar Fuel losing 2.1%.
Companies on Qatar's exchange had in 2018 increased foreign ownership limits to 49%, most of which had previously been set at 25%, drawing a flood of cash that helped to boost the main index by more than 20% last year.
The index has since cooled, falling about 5 percent since the start of the year on profit taking amid international political tensions.
($1 = 3.7502 riyals) ($1 = 16.8100 Egyptian pounds)
(Reporting by Ateeq Shariff in Bengaluru; Editing by Hugh Lawson) ((AteeqUr.Shariff@thomsonreuters.com; +918067497129;))