MIDEAST STOCKS-Most Gulf stocks gain in early trade on bank boost | Nasdaq
A rally in banking shares lifted major Gulf stock markets early on Monday, with the Saudi index leading the gains.
Saudi's benchmark index .TASI rose 0.6%, recovering from its biggest intraday fall since February in the previous session.
Underpinning the gains, Al Rajhi Bank 1120.SE climbed 1.2%, after proposing a 1 riyal per share dividend for 2020, and Saudi Basic Industries 2010.SE advanced 1.2%.
In Qatar, the index .QSI firmed 0.5% and was on course for a third straight session of gains. Industries Qatar IQCD.QA rose 2.2%, while Qatar International Islamic Bank QIIB.QA was up 2.4%.
Dubai's index .DFMGI opened 0.2% higher, helped by a 0.9% rise in its largest lender Emirates NBD ENBD.DU and a 1.7% jump in developer Damac properties DAMAC.DU.
Damac in a statement said on Sunday that it concluded a vaccination drive against COVID-19 for its employees and their spouses across the company and its units.
Amanat Holdings AMANT.DU advanced 2.5% after the Dubai-listed healthcare firm said it bought long-term care firm Cambridge Medical and Rehabilitation Center for an enterprise value of $232 million from private equity firm TVM Capital Healthcare.
The Abu Dhabi index .ADI edged up 0.1%, with the Adnoc Distribution ADNOCDIST.AD gaining 2.9%.
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