Reversing last month's dip on disappointing dividend distribution by blue-chip companies, the bourse gained 2.09 percent during February to 8,746.98, to almost erase last month's loss bringing the market's year-to-date (YTD) 2012 loss to a marginal 0.37 percent, as investors saw the January's sharp dip as a buying opportunity. Trading indicators improved slightly with volume rising seven percent to 152.3 million shares, while traded value rose 17 percent to 5.92 billion Qatari riyals (1.63 billion US dollars) over 69,463 transactions. Volatility for the month remained elevated at 10 percent as compared to 6.23 percent in December 2011. During February, the aggregate market capitalization rose 1.79 percent to 455.95 billion riyals ($125.2 billion) from 447.93 billion riyals ($123 billion). The banking & finance sector shrank 1.42 percent to 187.4 billion riyals ($51.5 billion) while the industrial and services sectors increased by 6.36 percent and 4.08 percent, respectively, leaving the insurance sector as the biggest loser at 10.43 percent to 10.79 billion riyals ($2.96 billion).
UAE’s non-oil job, output levels surge
While the UAE's non-oil producing private sector reported the fastest rise in employment levels in two years and a further boost in output levels during April, the rate of increase in new orders ease
Kuwait budget surplus may hit $52 billion
Kuwait is likely to have recorded another massive surplus during the last financial year of up to KD15 billion ($52.8 billion) as the price of Kuwait Export Crude (KEC) averaged $107 per barrel for