(MENAFN - Qatar News Agency) GCC markets were up again in March, gaining 4.6 percent after surging 7.4 percent in February, Kuwait Financial Centre (Markaz) has said.
Gains were led, for the third consecutive month, by Saudi Arabia, which was up 8.39 percent for the month while Kuwait s Weighted Index gained 2.61 percent. Losses were seen in the UAE, with Abu Dhabi and Dubai declining 1.69 percent and 2.73 percent, respectively, while Oman was down 2 percent.
Saudi Arabia s Tadawul All Share Index managed to end the 1st quarter of 2012 on a positive increase of 22.09 percent (1,417.42 points), the Saudi stock market said on its website Sunday, reported the Saudi Gazette Monday.
It closed at 7835.15 points, and the main index for the Saudi exchange gained 1272.3 points (19.39 percent) over the close from the same period of the previous year.
The index soared to its highest level since September 2008 Saturday, closing at 7835.15 points.
TASI continued the upswing, rising 0.92 percent Sunday to close at 7,907.41 points.
"Investors are shifting into petrochemicals because fundamentals are stronger, dividend yields are attractive and they haven t risen as much as smaller-cap stocks," said Muhammad Faisal Potrik, research analyst at Riyad Capital.