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The majority of Gulf markets gain in early trade, Qatar falls

Many major stock exchange in the Gulf edged greater in early trade on Wednesday as a capacity ceasefire in between Israel and Hezbollah raised financier belief, although the Qatari index bucked the pattern to trade lower.

A deal that would stop the fighting in between Israel and Hezbollah might be achieved within a couple of weeks, Israeli and U.S. authorities stated, according to Axios.

A senior Hamas authorities said on Tuesday the Palestinian militant group was studying new proposals from arbitrators to end the Gaza war however repeated that these should entail a complete Israeli military withdrawal from the enclave.

Saudi Arabia's benchmark index added 0.1% in a. choppy trade, assisted by a 0.7% increase in aluminium products. manufacturer Al Taiseer Group.

Meanwhile, OPEC+, which groups the Organization of the. Petroleum Exporting Countries and allies such as Russia, is. set up to raise output by 180,000 barrels each day (bpd) in. December. The group has actually cut output by a total of 5.86 million. bpd, comparable to about 5.7% of worldwide oil need.

Saudi Arabia's Energy Minister Prince Abulaziz bin Salman. said on Tuesday the country was committed to preserving crude. capability at 12.3 million bpd.

Dubai's primary share index gained 0.3%, led by a 3.6%. leap in toll operator Salik Company and a 1.1%. increase in leading lending institution Emirates NBD.

Dubai authorized a 2025-2027 budget plan on Tuesday with 272. billion dirhams ($ 74 billion) of expense, the greatest in the. emirate's history, against profits of 302 billion dirhams, its. ruler, Sheikh Mohammed bin Rashid al-Maktoum, said on X.

In Abu Dhabi, the index added 0.2%.

The Qatari benchmark lost 0.3%, hit by a 1.2% fall in. Qatar Islamic Bank.

However, petrochemical maker Industries Qatar rose. 0.4% following an increase in nine-month net revenue.

(source: Reuters)