Qatar leads most Gulf bourses lower ahead of US CPI data

Major stock exchanges in the Gulf declined on Wednesday, tracking global equities ahead of release of US CPI data as concerns around the Federal Reserve's rate trajectory dampened investor sentiment, reports Reuters.

The decline was led by the Qatari index, which slipped 0.4 per cent after a 1.1 per cent decline in Gulf's largest lender Qatar National Bank and a 0.8 per cent decrease in Commercial Bank.

Abu Dhabi's benchmark index dropped 0.2 per cent, putting it on track to end a four-session winning streak, with Conglomerate Alpha Dhabi Holding losing 0.5 per cent and Adnoc Gas slipping 0.6 per cent.