Most stock markets in Gulf nations lost value Monday while only Saudi Arabia's Tadawul bucked the downtrend. Tadawul, the Middle East's largest stock market in relation to market capitalization, closed 0.55 percent higher at 6,120.52 points. It was supported by reports from rating agency Standard and Poor's (S&P) which upgraded two publicly listed Saudi banks. All other Gulf exchanges lost value. The Kuwait Stock Exchange posted the largest loss, closing down 1.67 percent at 6,699.70 points, although oil prices stabilized above $74 per barrel. Weak-performing Kuwaiti financial and investment stocks also dragged the index down. The Dubai Financial Market (DFM) declined by 1.36 percent, ending at 1,579.54 points on weak real estate shares. In Abu Dhabi, the ADX General Index weakened by 1.23 percent to 2,604.17 points. Abu Dhabi-based real estate cooling company Tabreed, listed at the DFM, plummeted 3.95 percent and closed at AED0.38 (about $0.10). The firm, which lost more than 10 percent during the last week, is lacking of sufficient funds and its shareholders approved Sunday a series of resolutions presented by the management board to recapitalize the company. In Doha, the Qatar Exchange failed to continue its advance from Sunday and ended 0.58 percent lower at 6,785.96 points. In Kuwait, National Bank of Kuwait fell 3.3 percent and Kuwait Finance House dropped 2.9 percent as the country's index eased 1.7 percent to 6,700 points.
