Most major stock markets in the Gulf rose in early trade on Tuesday tracking Asian shares, as investors look to US inflation numbers due this week, which could provide clarity on when the Federal Reserve might start cutting interest rates.
Overnight, the New York Fed's latest Survey of Consumer Expectations showed that US consumers' projections of inflation over the short run fell to the lowest level in nearly three years in December, reports Reuters.
That reinforced bets for Fed cuts to begin soon, though some analysts say the market pricing of monetary easing is overdone.
Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy because most regional currencies are pegged to the US dollar.
Saudi Arabia's benchmark index gained 0.3 per cent, with oil company Saudi Aramco rising 0.6 per cent.
Elsewhere, media giant MBC Group surged 30 per cent, on course to extend gains from the previous session when it jumped 30 per cent on its market debut.
Newly listed stocks in Riyadh are allowed to rise or fall up to 30 per cent on their first three days of trading.
The kingdom launched a $12 billion, three-part bond issue on Monday, generating more than $30 billion in orders amid strong investor demand.
Dubai's main share index added 0.6 per cent, with utility firm Dubai Electricity and Water Authority increasing 1.2 per cent.
In Abu Dhabi, the index climbed 0.5 per cent.
The Qatari benchmark, however, eased 0.1 per cent, hit by a 0.3 per cent decrease in Qatar Islamic Bank.
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