Most Gulf stock markets moved marginally amid falling oil prices on Wednesday, while Egypt’s blue-chip index declined, led by property shares.
Oil prices slipped towards $59 a barrel on data showing a bigger-than-expected rise in U.S. crude stocks, while the prospect of deeper output cuts by OPEC and its allies offered support.
On Tuesday, Alinma reported a rise in third-quarter profit to 713 million riyals ($190.10 million) compared to 637 million a year earlier.
However, gains were capped by losses in petrochemical stocks.
Sahara International Petrochemical (Sipchem) slid 2.8% following a more than 38% plunge in third-quarter net profit. The petrochemical maker said it was due to a decrease in selling prices for most of the products.
Egypt's blue-chip index decreased 0.5%, with most stocks on the index falling. Property stock Talaat Mostafa lost 1.7% and El Sewedy Electric was down 1.5%. Among other stocks, developer Madinet Nasr also decreased 1.9%.
Egypt's non-oil private sector contracted for the second consecutive month in September, according to the IHS Markit Egypt Purchasing Managers' Index (PMI).
In Dubai, the index closed 0.3% down with Emaar Properties shedding 1.1% and Dubai Islamic Bank falling 0.6%.
Deyaar Development retreated 3%, a day after it surged over 10% on a future prospect.
The developer on Monday reported accumulated losses of 1.51 billion dirhams ($411.13 million) but said it would continue to launch quality projects and wanted to diversify income resources through property and facilities management services.
The Abu Dhabi Index added 0.3%, extending gains for a third straight session, with First Abu Dhabi Bank and Aldar Properties gaining 0.4% and 1.8% respectively.
Qatar's index dipped 0.2%, extending losses for a fifth straight session, as Qatar Fuel declined 1.6% and Mesaieed Petrochemical ended 2.2% lower.
But Commercial Bank edged up 0.2% after it reported a rise in nine-month profit to 1.50 billion riyals ($412.09 million) compared to 1.35 billion riyals a year earlier.
($1 = 3.6728 UAE dirham)
($1 = 3.6400 Qatar riyals)
(Reporting by Ateeq Shariff in Bengaluru, Editing by William Maclean) ((AteeqUr.Shariff@thomsonreuters.com; +918067497129;))