Jan 22 Reuters Most stock markets in the Gulf rose in early trade on Monday, tracking global peers, while Abu Dhabi struggled to pick up amid weaker oil prices.

The Qatari benchmark index increased 0.7, lifted by gains in all sectors in positive territory with Qatar Islamic Bank jumping 1.9 and Industries Qatar surging 1.3.

Separately, stateowned Qatar Energy could sign a longterm deal to provide liquefied natural gas LNG to Indian buyers on cheaper and more flexible terms than existing contracts, trade sources said.

Saudi Arabia39;s benchmark stock index was up 0.5, supported by a 9.9 surge in media giant MBC Group and 1.2 rise in Saudi Basic Industries Corp SABIC.

Saudi chemical manufacturer SABIC has given the goahead for a 6.4 billion China petrochemical plant, it said in an exchange filing on Sunday.

Dubai39;s benchmark stock index edged up 0.2, aided by gains in the financial sector with Emirate39;s largest lender Emirates NBD rising 0.9 and Emaar Properties adding 0.7.

Meanwhile, oil prices a catalyst for the Gulf39;s financial markets fell 0.3 on Monday with Brent trading at 78.35 a barrel by 0745 GMT.

In Abu Dhabi, the benchmark stock index retreated 0.4, weighed down by a 0.6 slide in conglomerate International Holding Company and 1.3 drop in Multiply Group.

Reporting by Md Manzer Hussain, editing by Ed Osmond

Source Reuters