july 11 reuters  gulf stock markets mostly ended higher on tuesday ahead of us inflation data that could warrant a quicker end to federal reserve rate hikes and as a rise in oil prices boosted sentiment most gulf cooperation council gcc countries including quatar saudi arabia and the united arab emirates have their currencies pegged to the us dollar and follow the feds policy moves closely exposing the region to a direct impact from monetary tightening in the worlds largest economy saudi arabias benchmark index tasi advanced 07 led by a 3 increase in dr sulaiman alhabib medical services 4013se and an 08 increase in al rajhi bank 1120se  the saudi bourse remained supported by strong local fundamentals and could see more gains this week farah mourad senior market analyst of xtb mena said in addition its performance could be reinforced if oil prices continue their recovery saudi arabias cabinet has reaffirmed the kingdoms desire to boost precautionary efforts by the organization of the petroleum exporting countries opec and their allies to stabilise oil markets it said in a statement on tuesday dubais main share index dfmgi gained 02 hitting its highest since late2015 with budget airliner air arabia airadu rising 31 in abu dhabi the index ftfadgi edged 01 higher oil prices  a catalyst for the gulfs financial markets  edged higher  supported by supply cuts by the worlds biggest oil exporters and expectations of higher demand in the developing world in the second half of 2023 despite a sluggish economic outlook the qatari index qsi  however closed lower outside the gulf egypts bluechip index egx30 finished 11 higher extending gains from the previous session the egyptian stock market remains on a potential downtrend however as trading volumes decreased and traders could return to selling said mourad egypts yearonyear headline inflation hit a record 357 in june  official data showed on monday accelerating past the previous high reached in 2017 and reflecting economic strains since early last year