Dubai: Saudi Arabia’s Tadawul All Share Index extended gains for another session, closing 0.76 per cent higher at 7,968.26 and closing in on the keenly watched 8,000 mark on Monday.
The index, which hit an intra-day high of 7,972.17, last crossed 8,000 on October 2 when it touched 8,062.
Saudi Basic Industries Corp gained 2.31 per cent to close at 123.80 Saudi riyals, while Al Rajhi Bank was up 1.16 per cent higher to end at 87.20 riyals.
Alinma Bank was up a tad higher — 0.09 per cent — to close at 22.20 riyals.
In the UAE, the Dubai Financial Market (DFM) general index closed 0.28 per cent higher at 2,563.72, having recovering partly from the previous day’s losses.
“We are waiting for a retracement higher towards the 2,640 resistance level in order to reinstate short positions,” Menacorp said in a note.
Emaar Properties rose more than 2 per cent higher to Dh4.30 while Dubai Islamic Bank (DIB) inched up 0.20 per cent higher to Dh5.10 and Arabtec closed 3.96 per cent higher at Dh2.10.
“We are waiting for a retracement lower towards the 1.85 support level in Arabtec, in order to reinstate long positions,” Menacorp’s note added.
Emaar Development closed 2 per cent lower at Dh4.40 while Emirates NBD fell 2.25 per cent to Dh8.70.
The Abu Dhabi Securities Exchange (ADX) general index was up 0.72 per cent to close at 4,865.82.
“We are waiting for a retracement higher towards the 4,900 resistance level in order to reinstate short positions,” Menacorp said in a technical report note.
Union Properties closed 0.72 per cent lower at Dh0.414.
Elsewhere in the Gulf region, the Muscat MSM 30 index closed 0.20 per cent lower at 4,408.20 while the Qatar Exchange index fell 0.07 per cent to 10,489.04,
The Kuwait All Share Index closed 0.09 per cent higher at 5,162.58 but the Bahrain All Share Index headed lower, closed 0.07 per cent down at 1,319.32.