By Ateeq Shariff

(Reuters) – Most stock markets in the Gulf rose on Tuesday as investors awaited early results from a tight U.S. election.

Election Day concluded an intense campaign marked by assassination attempts on Republican candidate and former President Donald Trump and the withdrawal of Democratic President Joe Biden in favor of Vice President Kamala Harris, with polls indicating a near tie.

Dubai's main share index increased by 0.2%, with Emirates Integrated Telecommunications rising by 2% and budget airline Air Arabia gaining 1.1%.

In Abu Dhabi, the index registered a 0.6% uptick, driven by a 6.7% surge in Alpha Dhabi Holding.

ADNOC Drilling Company and Alpha Dhabi Holding revealed on Monday that their joint venture, Enersol, agreed to acquire a 95% equity stake in Deep Well Services (DWS) for approximately $223 million, which includes performance-based payments.

ADNOC Drilling's shares rose by 2.3%.

The Qatari index concluded 0.2% higher, with Qatar Gas Transport Nakilat increasing by 1.5%.

Saudi Arabia's benchmark index slipped 0.2%, pressured by a 1.5% decline in ACWA Power Company.

Despite a reported 15.4% fall in third-quarter profits due to reduced crude prices and lower refining margins, oil giant Saudi Aramco reported a 0.2% increase, maintaining a $31.1 billion dividend for the quarter.

Outside the Gulf, Egypt's blue-chip index rose by 0.5%.

Index Performance

• SAUDI ARABIA: fell 0.2% to 12,015
• ABU DHABI: rose 0.6% to 9,384
• DUBAI: added 0.2% to 4,595
• QATAR: gained 0.2% to 10,569
• EGYPT: up 0.5% to 30,794
• BAHRAIN: closed flat at 2,019
• OMAN: up 0.1% to 4,722
• KUWAIT: gained 0.2% to 7,667