Gulf bourses ended mixed Wednesday as global stocks fell Wednesday after the US Federal Reserve dimmed hopes for fresh asset-buying and oil slipped. In Saudi Arabia, the stock benchmark Tadawul All Share Index snapped a five-session rally amid a weak global backdrop. The index fell 0.44 percent to 7,895.36 points as heavyweights Saudi Basic Industries Corp. and Al Rajhi Bank dipped 0.7 and 0.3 percent respectively. “This week, the market ran up quite a bit and you would expect investors to be more cautious and limit their exposures - anything could happen over the weekend,” said Muhammad Faisal Potrik, research analyst at Riyad Capital. The selling pressure is likely to ease up as investors are still upbeat on first-quarter earnings numbers. “Fundamentals are still intact and there's no reason for the momentum to not continue,” Potrik added. He said petrochemical and banking stocks are expected to post strong first-quarter earnings, with Sabic's sales seen as being up 9 percent year-on-year but net income 8 percent lower during the first quarter. Elsewhere, in Qatar, trading volumes in Qatar slumped to an 11-week low and the index eased 0.04 percent at 8,850 points as buying interest was muted ahead of earnings. In Kuwait, the index fell 0.3 percent to a three-week low at 6,159 points as a weak outlook for earnings dampened sentiment. In Dubai, bluechips helped lift the index 0.6 percent to a four-week high at 1,703 points. Abu Dhabi index inched up 0.01 percent to 2,564 points. Oman index advanced 0.2 percent to 5,806 points. Bahrain measure fell 0.8 percent to 1,141 points. “The sentiment for Q1 numbers is not looking good at all. Operationally, companies did not post great numbers for year
