March 17 (Reuters) - Most major stock markets in the Gulf rose in early trading on Monday, fuelled by China's latest economic stimulus initiatives.

China's State Council on Sunday unveiled what it called a "special action plan" to boost domestic consumption, featuring measures including increasing residents' income and establishing a childcare subsidy scheme.

This came just days after the country's financial regulator promised to relax consumer credit quotas and loan terms as it offers long-term backing to make available large sums.

Saudi Arabia's benchmark index .TASI rose 0.3%, with top lender Saudi National Bank 1180.SE rising 1.3% and Alinma Bank 1150.SE putting on 1%.

Alkhorayef Water and Power Technologies 2081.SE advanced 5% following a contract for operation and maintenance of water treatment plants worth 58.8 million riyals ($15.68 million).

Elsewhere, Arabian Co For Agricultural And Industrial Investment (Entaj) 2287.SE soared 30% - the maximum daily limit allowed for newly-listed stocks during their first three days of trading - to 65 riyals in its debut.

Meanwhile, Dubai's main share index .DFMGI also added 0.3%, with blue-chip developer Emaar Properties EMAR.DU increasing 1.2% and utility firm Dubai Electricity and Water Authority DEWAA.DU climbing 1.2%.

National Central Cooling TABR.DU rose 1.5% after entering an agreement to provide district cooling to Palm Jebel Ali. The 1.5 billion dirhams ($408.46 million) project will be executed in multiple phases through a joint venture.

In Abu Dhabi, the benchmark index .FTFADGI was up 0.2%.

The Qatari index .QSI, however, was flat in a choppy trade.

($1 = 3.7504 riyals)

($1 = 3.6723 UAE dirham)

(Reporting by Ateeq Shariff in Bengaluru; Editing by Varun H K)

((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))