DUBAI Dec 27 Gulf stock markets barely moved in
thin, early trade on Tuesday with some foreign investors absent
for New Year holidays and few fresh cues from corporate news or
Saudi Arabia's index edged up 0.1 percent to 7,172
points in early trading. It faces technical resistance at this
year's peak of 7,235 points.
Saudi Electricity, which had risen on Sunday after
Riyadh's 2017 state budget promised power tariff hikes later
this year, pulled back, losing 2.0 percent.
Much activity focused on second- or third-tier stocks
favoured by local retail investors, such as Tihama Advertising
, up 6.8 percent. It resumed trading this week after
being suspended because it delayed announcing its financial
Dubai's index edged down 0.2 percent but Abu Dhabi
added 0.4 percent on the back of a 1.1 percent gain in
telecommunications blue chip Etisalat. Qatar's index
fell 0.3 percent.
(Reporting by Andrew Torchia, editing by Louise Heavens)