March 20 (Reuters) - Most stock markets in the Gulf were up in early trade on Wednesday as investors looked ahead to the U.S. Federal Reserve's policy meeting later in the day for signs of its rate path for the rest of the year.
Dubai's benchmark stock index advanced 0.3%, supported by gains in utilities, finance and consumer discretionary sectors with Dubai Islamic Bank rising 0.5% and Deyaar Development climbing 1.6%.
In Abu Dhabi, the benchmark stock index inched up 0.1%, helped by a 1.3% gain in Abu Dhabi Islamic Bank and 0.5% rise in Purehealth.
Saudi Arabia's benchmark stock index was up 0.1%, helped by gains in most sectors with ACWA Power rising 1.5% and Jabal Omar Development climbing 1.9%.
The Qatari benchmark index eased 0.1%, weighed down by losses in consumer staples, energy and real estate.
Baladna slipped 4.6% and Qatar Gas Transport dropped 2.6%, while Qatar International Islamic Bank gained 1.3%.
The Fed is widely expected to hold rates unchanged in a meeting later on Wednesday, with the market's attention on policymakers' updated economic and interest rate projections and comments from Chair Jerome Powell.
Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
Reporting by Md Manzer Hussain Editing by Ros Russell
Source: Reuters