By Amna Mariyam

Sept 22 (Reuters) - Gulf stock markets were little

changed in early trade on Monday, as investors weighed regional

interest rate cuts following the U.S. Federal Reserve's moves,

while uncertainty over the Fed's future policy direction

tempered sentiment.

The Federal Reserve trimmed its benchmark rate by a quarter

percentage point on Wednesday in response to a softening labour

market but signalled a measured approach to further monetary

policy easing, leaving markets uncertain about the pace of

future cuts.

Subsequently, the central banks of Saudi Arabia, the United Arab

Emirates and Qatar each slashed rates by 25 basis points.

Saudi Arabia's benchmark stock index retreated 0.1%, on

course to snap a four-day winning streak.

Real estate led the decline, with Umm Al Qura Development

sliding nearly 2%, while Al Rajhi Bank, the

world's largest Islamic lender, dropped 0.2% ahead of its

ex-dividend date.

Oil behemoth Saudi Aramco fell 0.4%, putting it on

track for its first loss after six consecutive sessions of

gains.

Dubai's main share index was flat, as utilities and

banking shares pulled the index in opposite directions.

Emirates NBD Bank dropped 0.6%, while Dubai

Electricity and Water Authority advanced 1.1%.

Emaar Properties advanced 0.7%, consolidating two days

of gains after the developer scrapped plans to sell any stake in

its Indian subsidiary and said it was exploring potential joint

ventures with major Indian companies, including the Adani Group.

Abu Dhabi's index edged up 0.1%, supported by gains

in stocks linked to state-owned energy major ADNOC.

ADNOC Gas rose 0.6% signing a $513 million contract with a

subsidiary of China Petroleum Engineering. ADNOC

Drilling and Borouge both gained nearly 1%. Newly listed Orascom

Construction surged 5.3%, extending gains from the

previous two sessions.

Separately, U.S. chip giant Nvidia ( NVDA ) and Abu Dhabi's

Technology Innovation Institute (TII) announced the launch of a

joint research lab in the UAE to develop next-generation AI

models and robotics platforms.

Qatar's stock index was little changed, though gains in

the telecom sector offered some support. Ooredoo rose

1% after the company sold a 6% stake in IT services firm Meeza

to funds managed by Fiera Capital (UK) Limited,

reducing its holding to 4%.