DUBAI, March 5 Most Gulf bourses edged down in
light, early trade on Sunday, while Kuwait outperformed on the
back of financial stocks.
Saudi Arabia's index inched down 0.1 percent in the
first 15 minutes of trade. Banks were weak with heavyweight
National Commercial Bank declining 0.5 percent.
Al Sagr Cooperative Insurance dropped 2.6 percent
after the board recommended a cash dividend for 2016 of 2 riyals
per share, the same payout as for the prior year.
Dubai's index was down 0.5 percent at 3,565 points,
nearing minor technical support on its February low of 3,551
points; any break would point to a move down towards stronger
support at the late December lows around 3,500 points.
Nine-tenths of traded shares declined with theme park
operator DXB Entertainments, the most active stock,
losing 1.0 percent.
Abu Dhabi's index edged 0.2 percent lower as National
Bank of Abu Dhabi fell 1.9 percent and First Gulf Bank
slipped 0.4 percent. The pair are due to merge on April
In Qatar, the index fell 0.3 percent as a little over
half of shares traded lower. Doha Bank was down 1.1
Kuwait's index was up 0.7 percent on the back of a
1.6 percent gain by Kuwait Finance House, as well as a
3.0 percent surge by Burgan Bank in unusually heavy
(Reporting by Celine Aswad; Editing by Andrew Torchia. Editing
by Jane Merriman)