Saudi Arabia's stock market benchmark Tadawul All-Share Index (TASI) edged 0.24 percent higher to 6,243.93 points, led by petrochemical stocks, the only Gulf Arab market to post gains amid a regional sell-off. Yanbu National Petrochemicals and industrial group Tasnee each gained around 3.6 percent. TASI index reached its highest point since Dec. 6. Elsewhere in the Gulf, Dubai's index DFM posted its biggest intraday loss since Dec 9 amid a regional sell-off, while bellwether stock Emaar Properties fell six percent. “Still people are feeling uncertain about real estate in Dubai and everybody is revising the numbers,” said Chamel Fahmy, Beltone Financial regional senior sales trader. Dubai's index dropped 3.8 percent to 1,736 points. “In Dubai, no one can paint a clear picture of where things are heading. Dubai is still trying to figure out what to do,” said a Kuwait-based trader, referring to the emirate's debt crisis. Abu Dhabi's index ADI fell 1.9 percent to 2,694 points, with industrial, banking and property stocks suffering the most. Abu Dhabi Commercial Bank closed 6.1 percent lower. Several Gulf Arab markets gave up early gains amid a regional sell-off that hits property and banking stocks hardest. Traders said the decline is driven by retail investors and happens in the absence of positive catalysts and the uncertainty surrounding the debt situation of Dubai World. Kuwait's bourse KWSE fells 0.2 percent to 7,084 points. Agility extended its losses from the previous days, ending 7.3 percent lower. Stocks in Qatar QSI dropped 0.6 percent to 7,029 points. Doha Bank shed 1.7 percent. Bahrain's index BAX fell 1 percent to 1,445 points. Oman's benchmark closed 0.9 percent to 6,142 points, its lowest point in 10 days.
