Saudi Arabia and Qatar's markets closed higher Wednesday, supported by gains in world stocks and higher oil prices ahead of a Federal Reserve meeting that may hint at more monetary easing, while other Gulf markets slipped. The Kingdom's stock benchmark Tadawul All Share Index rose 0.98 percent to close at 6,215.67 Wednesday, trimming 2011 losses so far to 6.1 percent. It ended lower on the previous three days after hitting a 12-week closing high of 6,236 points Saturday. “The market broke through 6,197 points for three days in high volume, which gives a buy signal and target of 6,350 points,” said Adel Al Badr a portfolio manager with Alinma Bank. Al Rajhi Bank , the largest listed lender by market value, was the main support, rising 1.8 percent. Samba Financial Group gained 3.8 percent and Banque Saudi Fransi climbed 3.5 percent. Saudi Arabia's bourse traded for the last day ahead of a week-long holiday marking Eid Al-Adha. Other Gulf markets will be shut starting Nov. 6. In Qatar, the index ended 0.6 percent higher, recovering most of the losses of past two sessions. Abu Dhabi's index closed down 0.3 percent to 2,490 points and Oman's market shed 0.5 percent.
