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Wed 6 Jan 2016 12:21 PM

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Stock markets: Gulf bourses mixed in early trade

Worries about low oil prices and instability in the global economy deterring any aggressive buying

Stock markets: Gulf bourses mixed in early trade
(Getty Images)

Gulf stock markets were mixed in quiet, early trade on Wednesday, with worries about low oil prices and instability in the global economy deterring any aggressive buying.

The Dubai index was up 0.3 percent on the back of low-priced, speculative stocks, with healthcare and education investment firm Amanat rising 2.6 percent in the market's heaviest trade. Blue-chip Emaar Properties fell 0.7 percent.

Abu Dhabi lost 0.6 percent as First Gulf Bank , which jumped 3.3 percent on Tuesday, fell back by 1.6 percent.

Qatar was almost flat, though banks were bought. Doha Bank gained 2.1 percent from near a two-year low in unusually heavy trade.

Islamic Holding, a financial and investment firm, was the most heavily traded stock and climbed 3.4 percent after an 8.3 percent gain on Tuesday.

The company is boosting its capital by as much as 50 percent through a rights issue. Eligibility for the rights closed on December 1 and subscriptions will run from December 27 to January 13.