Nov 21 Reuters Major stock markets in the Gulf were mixed in early trade on Tuesday amid falling oil prices and on expectations the U.S. Federal Reserve is likely done with interest rate hikes.

Stock markets have broadly rebounded in November, as a flurry of data that showed U.S. inflation might be easing has spurred bets that the Fed is done with monetary tightening and rate cuts may be on the way next year.

Monetary policy in the sixmember Gulf Cooperation Council GCC is usually guided by the decisions of the Fed, as most regional currencies are pegged to the dollar.

Saudi Arabia39;s benchmark index edged 0.1 higher, helped by a 0.7 rise in ACWA Power Co and a 1.9 increase in Power and Water Utility Co For Jubail and Yanbu.

The Qatari benchmark added 0.3, with petrochemical maker Industries Qatar advancing 1.3.

Separately, the chief of Hamas told Reuters on Tuesday that the Palestinian militant group was near a truce agreement with Israel, even as the deadly assault on Gaza continued and rockets were being fired into Israel.

In Abu Dhabi, the index lost 0.2.

Oil prices a catalyst for the Gulf39;s financial markets  eased, reversing the previous day39;s rally, as investors turned cautious ahead of a meeting of OPEC this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth.

Dubai39;s main share index dropped 0.2, hit by a 0.4 fall in bluechip developer Emaar Properties.

Reporting by Ateeq Shariff in Bengaluru; Editing by…