(MENAFN- The Peninsula)
Most stock markets in the Gulf made small gains yesterday, recovering some of the week's losses, but trading volumes remained very low.
Qatar Stock Exchange (QSE) index advanced 0.5 percent with 70 percent of traded shares gaining. The index gained 49.26 points to close at 10,445.24 yesterday. Islamic lender Masraf Al Rayan was the top performer, climbing 2.8 percent.
The Saudi stock index climbed 0.7 percent as the petrochemical sector regained some of the previous session's heavy losses, after Brent oil bounced from a four-month low hit on Wednesday.
Saudi Kayan Petrochemical rose 1.3 percent.The insurance sector, which has been very volatile in recent days, also firmed with all but four of the 35 listed insurers advancing.
Buruj Cooperative Insurance jumped 9.3 percent and was the top performer on the exchange.
Dubai builder Drake & Scull climbed 2.2 percent after it sold its ownership stake in a Dubai development project, One Palm, to Omniyat Properties, its partner in the scheme. The value of the sale was not disclosed.
DSI said the transaction was an important milestone in its turnaround and capital restructuring plan initiated in the fourth quarter of 2016.
A 1.1 percent decline in shares of heavyweight Emaar Properties dragged on Dubai's index, which fell 0.4 percent.
ENBD REIT, the second real estate investment trust to list in Dubai and the first equity instrument to list since an exchange-traded fund in June 2016, traded at $1.17 on its first day on NASDAQ Dubai, up from its initial public offer price of $1.11. Volume was tiny.
Abu Dhabi's index added 0.3 percent but saw its lowest daily volume since mid-December. Dana Gas rose 2.3 percent.
Kuwait's index, which had jumped 2.0 percent on Wednesday, added a further 0.3 percent with trading volume staying very high.
The largest logistics company in the Gulf, Agility, jumped 3.2 percent. Egypt's index climbed 1.2 percent with trading volume nearly doubling from the previous session as foreign funds were net buyers of equities, exchange data showed.
The top two gainers in that index were private equity firm Qalaa Holdings, which jumped 6.8 percent, and investment firm EFG Hermes, up 4.2 percent.
The benchmark index in Oman added 0.3 percent to 5,635 points yesterday while the index in Bahrain increased 0.6 percent to 1,376 points.
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