Qatar's bourse makes its biggest one-day gain in three months on a technical breakout and banks help lift Oman's market to a near six-week high.
Heavyweight Industries Qatar gains 1.1 percent and Qatar Electricity and Water climbs 0.9 percent. Of the 20 stocks on the main index, 18 advance.
Doha's index rises 0.7 percent to 8,407 points, its largest daily gain since Sept. 12 and highest finish since Nov. 28.
"It's a technical bounce more than anything else - the market was hovering above the 8,300 level, which is a very strong support and wasn't breached," says a Doha-based trader who asked not to be identified. "The next target is at 8,450 points."
In Muscat, the index rises 0.4 percent to finish at 5,696 points, its highest close since Nov. 11.
The index is close to a resistance level of 5,700, with the next target at 5,750.
Bank Dhofar and HSBC Oman rise 1.7 and 1.5 percent respectively. Oman International Development and Investment adds 3 percent.
"The market is rallying on a mixture of relatively improving fundamentals, allocations ahead of the new year and dividend yields," says KanagaSundar, Gulf Baader Capital Markets head of research.
There is increased buying interest in banks as attractive valuations draw local and international institutions, he adds.
In the UAE, bluechips help Dubai's index rise 0.1 percent to a close of 1,592 points.
Emaar Properties and carrier Air Arabia add 0.5 and 1.2 percent respectively. Builder Arabtec climbs 1.3 percent.
Abu Dhabi's measure ticks up 0.06 percent to 2,613 points.
Elsewhere, Kuwait's benchmark edges up 0.02 percent to 5,987 points, a nine-week high. (Reuters)
