Most of the stock markets of Gulf country ended with a hype on last Wednesday. Maximum profit was gained by the banking sectors and Eyptian stocks regret for the broader selloff in the shares of blue-chip.

After Friday's drop in oil prices and global equities, most major Gulf stock markets dropped on Sunday, though Qatar defied the trend.

Brent crude futures for April, which expired on Friday, dropped 1.1 percent to $66.13 a barrel, as forecasts called for increased crude supplies as prices rose above pre-pandemic levels.

The benchmark index dropped down to 0.6%, Al Rajhi Bank down 1.2%, and Saudi Telecom Company losing 1.5%.

According to US intelligence reports, released on Friday, the kingdom's de facto ruler approved an operation to capture or destroy journalist Jamal Khashoggi in 2018. The US placed sanctions on some of those involved but spared the crown prince in an attempt to maintain ties with the kingdom.

Khashoggi, a Saudi journalist, aged 59, was serving a self-imposed exile in Virginia.

Investors didn't seem to think it was a huge risk that the US would sabotage US-Saudi ties by threatening Mohammed Bin Salman. It would have caused a rift in the political relationship. "Not a good deal," said Khaled Abdel Majeed of SAM Capital Partners, a London-based investment advisory company.

Emaar Properties dropped 2.3 percent. Emirates Integrated Telecommunications fell 2.2 percent, dragging down Dubai's main stock index by 0.7 percent.

The index in Abu Dhabi fell 0.3 percent. First Abu Dhabi Bank’s stock falls to 0.5 percent and the sharia-compliant Abu Dhabi Islamic Bank’s stock fell to 1.8 percent.

The Qatari index, gained 0.1 percent in its stock. It got boosted by a 2% gain in utility to Qatar Electricity and Water Co.