Gulf stock markets continued northbound trek Sunday as global economic sentiment improved. Saudi Arabia's Tadawul All Share Index (TASI) rose 0.21 percent to close at 7,351.28 points, continuing its 12th day of gains, the longest winning streak since August 2005. On an YTD basis, TASI registered a positive increase of 13.31 percent (854.09 points). Highest close level for the index during the month was 7,271.82 as on 29/02/2012. Total equity market capitalization at the end of February 2012 reached SR1,425.86 billion ($380.17 billion), increased by 9.41 percent over the close of the previous month. The total value of shares traded for the month of February 2012 reached SR 210.03 billion ($56.01 billion), increased by 35.16 percent over the previous month. Dubai's shares surged to the highest level in more than a year as investors bet a recovery in the emirate is more likely amid signs the US economy is improving. The DFM General Index (DFMGI) advanced 3.1 percent to 1,754.20, the highest since November 2010. The measure rallied 21 percent in February, the biggest gain among benchmarks worldwide. Abu Dhabi's shares have also advanced after the government said in January it plans to resume real-estate projects after reviewing their viability. The emirate's ADX General Index increased 0.7 percent, rising for an eleventh day in the longest stretch of gains since May 2007. Oman's MSM 30 Index (MSM30) rose 0.1 percent in its eighth day of gains. Kuwait's Stock Exchange Price Index climbed 0.9 percent. Bahrain's BB All Share Index was little changed, while Qatar's stock market was closed for a holiday.
