Gulf bourses edged higher in low volumes on Monday as investors took heart from greater stability in the region's markets and signs of improved economic prospects. The Saudi Stock Exchange Tadawul All-Share Index inched up 0.65 percent at 5,980.36 points spurred by gains in the petrochemical, insurance and telecom sectors. Saudi Basic Industries Corp (SABIC) gained 2.71 percent. Bank Alinma and Saudi Kayan Petrochemical both rise 2.55 percent. “Saudi Arabia has started to see lots of talk that the banking sector has started to lend again in a big way,” said Alfred Fayek, director of the GCC institutional desk team at EFG-Hermes. In Dubai, the index gained 1.79 percent at 1,646 points, lifted by Emaar Properties, which rallied 2.8 percent. In Abu Dhabi, the main index ended up 1.04 percent at 2,592 points. Qatar's main index gained 1.44 percent. In Kuwait, the main index ended up 0.89 percent at 7,727 points. In Oman, the Muscat index closed up 0.95 percent at 5,386 points. In Qatar, the Doha benchmark closed up 1.44 percent 6,558 points.
