Pakistan, Aug. 15 -- Most stock markets in the Gulf tracked global equities higher in early trade on Thursday, after benign U.S. inflation data raised hopes of a Federal Reserve rate cut, while earnings reports in the region were mixed.

Traders overwhelming expect the Fed to cut rates in September after data this week showed U.S. inflation increased at a moderate pace in July.

Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar.

The Qatari benchmark index rose 0.8%, with almost all constituents advancing. Qatar National Bank, the region's largest lender, gained 1.7% and Qatar Islamic Bank climbed 1.2%.

Dubai's benchmark stock index was up 0.4%, supported by gains...