Most stock markets in the Gulf closed lower on Sunday, with the Saudi index extending its losses for the third session as profit-taking continued after the Saudi index reached multi-year highs.
The Saudi index fell 0.47% as Saudi Basic Industries Corporation (SABIC) fell 1.7%, extending its losses for the third session.
The petrochemical giant on Thursday reported a net profit of 5.6 billion riyals ($1.49 billion dollars) up from 1.1 billion riyals in the same period last year, but missed the average estimate of four analysts compiled by Refinitiv of 6.1 billion riyals.
Saudi oil producer Aramco closed 0.4% higher, however, after a sharp rise in quarterly profit, boosted by higher crude prices and sales volume to beat analysts' expectations.
Aramco net income jumped to $30.4 billion in the quarter ended Sept. 30 from $11.8 billion a year earlier.
The oil giant has risen more than 8% this year to a market value of just over $2 trillion, a goal sought by Saudi Crown Prince Mohammed bin Salman ahead of the company's initial public offering.
Abu Dhabi's index fell 0.1% down 1.7% for Alpha Abu Dhabi Holding and 0.1% for First Abu Dhabi Bank, the UAE's largest bank.
The Dubai index rose 0.1% supported by a 0.8% gain for Emaar Properties and 10.4% for Damac Properties.
DAMAC said on Thursday that its board of directors unanimously recommended the company's small shareholders to accept founder Hussain Sajwani's offer to buy their shares and cancel the company's listing on the stock exchange, and if they accept it, small shareholders, including BlackRock, State Street and other companies, will receive 1.Smaller shareholders, including BlackRock, State Street and companies, will receive 1.4 dirhams ($0.38) per share according to the offer.
Outside the Gulf region, Egypt's blue-chip index fell 0.8% after rising 1.3% in the previous session.
On Thursday, the Central Bank of Egypt kept key interest rates unchanged during a Monetary Policy Committee meeting.
On Thursday, the Central Bank of Egypt kept key interest rates unchanged during a Monetary Policy Committee meeting.
