Major Gulf markets little changed ahead of Fed decision

Major stock markets in the Gulf were little changed in early trade on Wednesday ahead of the US Federal Reserve's interest rate decision, reports Reuters.

Investors are awaiting a raft of central bank interest rate decisions this week to assess the outlook for economic growth and fuel demand.

The US central bank is widely expected to keep interest rates on hold, but the focus will be on its projected policy path.

The six-member Gulf Cooperation Council's monetary policy is usually guided by the Fed's decision as most regional currencies are pegged to the US dollar.

Saudi Arabia's benchmark index edged 0.1 per cent lower, hit by a 2.8 per cent fall in Dar Al Arkan Real Estate Development and a 0.2 per cent decrease in oil giant Saudi Aramco.

Separately, the kingdom welcomed positive results from discussions to reach a road map supporting the peace process in Yemen, Saudi Arabia's foreign ministry said in a statement, after Houthi negotiators' talks with the Saudis in Riyadh.