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Mon 21 Sep 2015 12:09 PM

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Gulf markets quiet ahead of Eid holiday

Dubai's index was nearly flat, while Abu Dhabi's benchmark edged up 0.2 percent thanks to telecommunications blue chip Etisalat.

Gulf markets quiet ahead of Eid holiday

Gulf stock markets were little changed in thin early trade on Monday as investors prepared for an extended Eid al-Adha holiday break.

Dubai's index was nearly flat. The most traded stock was property developer DAMAC, up 0.3 percent on the last day its shares carry a dividend.

Abu Dhabi's benchmark edged up 0.2 percent thanks to telecommunications blue chip Etisalat, which rose 0.7 percent.

Qatar's bourse climbed 0.2 percent, but local stocks were equally split between gainers and losers. Companies sensitive to oil prices were positive, such as petrochemicals producer Industries Qatar, up 0.3 percent, and drilling rig provider Gulf International Services, which rose 0.7 percent.

Markets in Kuwait and Oman inched up 0.06 and 0.07 percent respectively.

All Gulf bourses will be closed from Wednesday for the remainder of this week due to the Eid al-Adha holiday, with the exception of Saudi Arabia which will close from Tuesday.

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