register now for free unlimited access to reuterscom register bahraini traders are seen at bahrain bourse in manama bahrain november 4 2020 reutershamad i mohammed sept 20 reuters  most stock markets in the gulf rebounded on tuesday with the saudi index snapping a fourday losing streak as investors price in bets of a supersized federal reserve interest rate hike later this week the federal reserve is likely to raise us borrowing costs faster and further than previously expected after data last week showed underlying inflation broadening out rather than cooling as expected read more most gulf cooperation council countries including saudi have their currencies pegged to the dollar and generally follow the feds policy moves exposing the region to a direct impact from monetary tightening there saudi arabias benchmark index tasi rose 05 ending four sessions of losses bolstered by a 23 rise in the kingdoms biggest lender saudi national bank 1180se dubais main share index dfmgi gained 07 led by a 16 rise in bluechip developer emaar properties emardu and a 13 advance in shariacompliant lender dubai islamic bank disbdu in abu dhabi the index ftfadgi added 04 helped by a 1 gain in international holding co ihcad after the conglomerate said it decided to acquire a 15 stake in burjeel holdings through a unit crude prices a key catalyst for the gulfs financial markets ticked up as opec and its allies produce less than their quotas but were headed for a fourth monthly decline ahead of the expected us interest rate hike which may curb economic growth and fuel demand egypts central bank will raise its overnight deposit rate by 100 basis points bps on thursday as it tries to dampen resurgent inflation a reuters poll forecast read more the median forecast in a poll of 15 analysts is for the bank to raise its deposit rate to 1225 and its lending rate to 1325 at its regular monetary policy committee meeting reporting by ateeq shariff in bengaluru editing by vinay dwivedi