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* Oil tanker tensions in the Gulf weigh on sentiment * Banks pull down the Indian index * Profit-taking is detrimental to Kuwait's index * Dubai slips on ownership shares * Heavyweight FAB raises Abu Dhabi By Tuqa Khalid DUBAI, July 21 (Reuters) - Saudi Arabia stock index declined Sunday as political concerns weighed on investors after Iran seizes a British flag oil tanker the gulf. Britain has called the action of Iran against Stena Impero in the The Strait of Ormuz Friday is a "hostile act". "Markets follow negative global trend Geopolitical risks at the heart of the British oil company's concerns seizure, "said Vrajesh Bhandari, senior portfolio manager at Al Mal Capital in Dubai. Saudi shares fell 0.8% and financial stocks fell sharply losses in the face of an expected reduction in interest rates this month from US Federal Reserve. The Saudi Arabian Bank (SABB) lost 2.2%, the Arab currency National Bank down 1.7%, National Bank of Commerce down 1.1% and the Saudi Investment Bank down 0.6%. The other Gulf markets were mixed. In Kuwait, profit-taking lowered the index by 1.2%. "Kuwait is the best performing market in the MENA region this year so far, almost 20%, so it is not surprising that some investors take profits, "said Bhandari. "We believe the market will continue to be well supported (up to its) ... inclusion in the MSCI EM index in mid-2020. " Ahli United Bank down 2.5%, Kuwait Finance House was down 1.4%, and Kuwait International Bank was down 1.1%. In Dubai, the index was down 0.9%, driven down by the real estate sector. The Arabtec construction company has lost 2.3%, DAMAC 2% properties and Emaar development 1.6%. Dubai is in a housing crisis that has seen prices fall more than a quarter compared to a peak in mid-2014, which hurt earnings leading developers of the emirate and forcing the construction and engineering firms to cut jobs and put an end to expansion projects. In Abu Dhabi, the index climbed 0.3%, First Abu Dhabi Bank heavyweight, up 1%. The lender, the largest in the UAE, rose 4% last week after up 5% in net income in the second quarter. FAB boosted the sector, with Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank up 0.8% and 0.6% respectively. The safe value index of Egypt lost 0.7%, weighed down by immovable. Cairo Investment and real estate development tumble 4.2% and Orascom Development down 2.9%. SAUDI ARABIA The index fell 0.8% to 8,958 points ABU DHABI The index gained 5.235 points to 0.335 points DUBAI The index lost 0.9% to 2.739 points QATAR The index was at 10,501 points EGYPT The index is down 0.7% to 13,576 points BAHRAIN's index slipped 0.2% to 1,534 points OMAN's index rose 0.6% to 3,771 points KUWAIT The index fell 1.2% to 6.664 points (1 $ = 3.6728 dirham from the United Arab Emirates) (Report by Tuqa Khalid, edited by Davide Barbuscia and John Stonestreet)
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