IHC's unit Alpha Dhabi Holding was down 2.1%. Dubai's main share index also extended declines from the previous session to close 0.1% lower, with toll operator Salik sliding 2.1%. and Dubai Electricity and Water Authority retreating 0.8%. The Qatari benchmark index , however, bucked the trend to rise 0.3%, its sixth-positive session in a row. The index was boosted by a 3.1% jump in Qatar Islamic Bank and a more than 1% hike in Qatar National Bank , the Gulf's biggest bank by assets. After the market closed on Wednesday, QNB reported a 9% rise in annual net profit after adjusting for hyperinflation related to its business in Turkey. Outside the Gulf, Egypt's blue-chip index , slipped 0.7%, extending losses to the fifth-consecutive session. The index was dragged down by a 9.1% dive in the country's lone cigarette maker Eastern Company and a 3.3% slide in Fawry Banking & Payment Technology Services . However, Telecom Egypt gained 4.5% after it said on Tuesday that a study to offer an additional stake in the company is in its initial phase. Egypt is offering to sell a 10% stake in state-controlled Telecom Egypt, sources with knowledge of the offer said on Monday. The Egyptian stock market could follow other markets to the downside after Powell's stance, but upcoming IPOs and the sale of a stake in Telecom Egypt could stimulate the market, added Takieddine. SAUDI ARABIA fell 0.6% to 10,410 ABU DHABI flat at 9,944 DUBAI slid 01% to 3,427 QATAR rose 0.3% to 10,752 EGYPT down 0.7% to 16,316 BAHRAIN flat at 1,911 OMAN was up 0.2% 4,855 KUWAIT eased 0.42% to 8,162
(Reporting by Shamsuddin Mohd in Bengaluru; Editing by Sharon Singleton)
