Saudi Arabia's stock benchmark Tadawul All Share Index climbed 0.4 percent to close at 6,128.47 points, up for a second day, as sharp gains in world markets boosted sentiment. Petrochemical stocks led by turnover, with the sector index climbing 0.6 percent. Bellwether Saudi Basic Industries Corp. (SABIC) rose 0.5 percent. Investors booked profit in insurance stocks, the focus of the last few sessions. The sector index dropped 2.4 percent from Monday's 10-week high. Agriculture stocks also rose and were among the most active. Investors often target sectors that rely on local, rather than international demand, when global markets are volatile. Elsewhere, Qatar's index rose 0.4 percent, Abu Dhabi gained 0.5 percent and Dubai climbed 0.1 percent, lifted by gains in global markets. Oman index edged up 0.09 percent to 5,647 points. However, Kuwait index fell 0.3 percent as investors booked profits from Monday's rally. Bahrain's index fell 1.6 percent to close at its lowest level since September 2003. Cairo's main index fell 1.3 percent, weighed by Orascom Construction (OCI) which dropped 4.6 percent to its lowest level since March.
