January 20, 2026 [Reuters]- Major Gulf stock markets were mixed in early trade on Tuesday, as investors awaited corporate earnings and weighed weaker oil prices, while the Saudi index slipped on profit-taking after its recent rally.

Saudi Arabia’s benchmark index eased 0.1% after a 3.3% rally triggered by the government’s last week that it would liberalise capital market access for foreign investors, starting next month.

Also weighing on the index was a 0.3% fall in Al Rajh Bank and a 0.4% slide in Saudi National Bank, the kingdom’s biggest lender by assets.

Meanwhile, oil prices – a catalyst for the Gulf’s financial markets – were little changed as traders weighed President Donald Trump’s tariff threats against Europe linked to his push to buy Greenland, while a softer dollar and stronger-than-expected data from top importer China helped support prices.

In Abu Dhabi, the index lost 0.1%, with ADNOC Gas falling 0.3%.

Abu Dhabi Islamic Bank – the emirate’s largest sharia-compliant lender – dropped 0.2%, ahead of its fourth-quarter earnings release due on Wednesday.

In other news, India signed a $3 billion LNG deal with the UAE on Monday, making it the UAE’s top customer. ADNOC Gas will supply Hindustan Petroleum 0.5 million metric tons per year for 10 years as both countries move to deepen trade and defence ties.

Dubai’s main share index gained 0.4%, led by a 1% rise in utility firm Dubai Electricity and Water Authority and a 0.3% increase in blue-chip developer Emaar Properties.

The Qatari index edged 0.1% higher, helped by a 0.8% rise in petrochemical maker Industries Qatar. Qatar Gas Transport added 0.5%, ahead of its earnings announcement later in the day.