Jan 24 Reuters Most stock markets in the Gulf ended higher on Wednesday, largely on the back of corporate earnings with the Dubai index leading the gains.

Dubai39;s main share index advanced 1.8, with Dubai Islamic Bank DIB jumping 7.7 its biggest intraday gain since June 2020 after reporting upbeat fullyear earnings.

DIB, the biggest Islamic lender in the United Arab Emirates, on Tuesday reported a 24 increase in fullyear attributable net profit to 6.80 billion dirhams 1.85 billion from a year earlier

Also, the lender raised its 2023 dividend proposal to 45 versus 30 for the year 2022.

Elsewhere, top lender Emirates NBD closed 4.8 higher, ahead of its earnings announcement.

Saudi Arabia39;s benchmark index gained 0.6, led by a 1.7 rise in Etihad Atheeb Telecommunication and a 1.4 increase in auto rental firm Lumi.

Elsewhere, oil giant Saudi Aramco edged 0.2 higher.

Oil which fuels the Gulf39;s economy  steadied, with Brent trading near 80 a barrel, as a Chinese economic stimulus package and geopolitical tensions were offset by concerns over tepid demand and a stronger dollar.

Separately, Saudibased Middle East Pharmaceutical Industries Company, known as Avalon Pharma, priced its initial public offering IPO at the top of its range, selling the shares at 82 riyals 21.87 each on Wednesday.

In Abu Dhabi, the index finished flat.

The Qatari benchmark added 0.1, with petrochemical maker Industries Qatar gaining 2.7.

However, Islamic lender Masraf Al Rayan…