april 4 reuters  most gulf stock markets rose in early trade on tuesday amid rising oil prices although renewed economic concerns after subdued us manufacturing activity data capped gains crude prices  a key catalyst for the gulfs financial markets  rose after opec plans to cut more production jolted markets on monday with investor attention shifting to demand trends and the impact of higher prices on the global economy saudi arabias benchmark index tasi gained 06 with retal urban development co 4322se advancing 1 and al rajhi bank 1120se rising 09 us manufacturing activity slumped in march to the lowest level in nearly three years as new orders plunged and analysts said activity could decline further due to tighter credit conditions market watchers have been trying to gauge how much longer the federal reserve might need to keep raising interest rates to cool inflation and whether the us economy might be headed for recession most gulf cooperation council countries including saudi arabia the united arab emirates and qatar 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 separately saudi arabian auto rental firm lumi has hired saudi fransi capital and efg hermes hrhoca to arrange the sale of 30 of its shares in a planned initial public offering ipo reuters reported on monday citing two sources the qatari benchmark qsi climbed 08 as most of the constituents on the index were in positive territory including qatar islamic bank qisbqa which was up 12 dubais main share index dfmgi however was flat in early trading reporting by ateeq shariff in bengaluru editing by rashmi aich