(MENAFN- Muscat Daily) The Muscat bourse rebounded on Tuesday posting its first gains in 11 trading sessions as oil rose from a 2009 low and regional markets recovered. Saudi Arabia led the advance in Middle Eastern equities.
The MSM30 index closed up 0.42 per cent to 5760.29 supported by key shares.
The Tadawul all share index surged 7.1 per cent the most this year to 7519.56 as of 2:49pm in Riyadh as traders exchanged about 510mn shares the most in four months.
Dubai's DFM general index added 4.6 per cent to 3558.37 trading at 9.6 times 12-month projected earnings up from the lowest level in more than two years on Monday.
Traders exchanged almost 560mn shares the most in more than two months. While the Dubai measure's 14-day relative strength index rebounded from the weakest this year it remained in oversold territory along with the rest of Gulf stock gauges except Qatar's.
The Bloomberg GCC 200 index which tracks 200 of the region's top equities increased the most since December from the lowest close in two years. Abu Dhabi's ADX general index added 1.6 per cent. Qatar's QE Index rose 3.2 per cent. Kuwait's measure increased 0.3 per cent while Bahraini stocks were little changed.
The MSM's Services gauge added 1.03 per cent and led the way for the sub-indices. The Financial and Industrial indices ended the session up 0.83 per cent and 0.12 per cent respectively. The MSM Shariah index dropped 0.21 per cent to 908.16.
Trading volume and value fell 27.63 per cent and 32.79 per cent. Market breadth returned positive as 23 stocks gained against six decliners while 17 remained unchanged.
Al Batinah Dev Inv Holding (+8.89 per cent) Al Madina Takaful (+8.33 per cent) and Galfar Engineering (+8.05 per cent) were among the top gainers while Bank Nizwa (-3.13 per cent) Raysut Cement (-2.86 per cent) and Oman Cables Industry (-2.5 per cent) were among the top losers.
By special arrangement with Oman Arab Bank - Investment Management Group
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