Dhofar Internationall, Qtel lift Oman, Qatar

Dhofar International Development and Investment Holding Co. (DIDIC) makes its biggest one-day gain since May after selling its stake in Bank Dhofar , pushing Oman to a higher close. Qatar ends at a four-month high powered by Qatar Telecom (Qtel)as it extends gains ahead of the initial public offering (IPO) of its Omani unit, Nawras next week. Markets in the United Arab Emirates and Saudi Arabia were closed ahead of Eid al-Fitr on Friday, which marks the end of Ramadan. DIDIC said earlier on Thursday it sold a 2.5 percent stake it held in Bank Dhofar, Oman's second-largest bank by market value, at 0.750 baiza a share. DDIC ended 7.45 per cent up, its biggest one-day rise since May 27. Bank Dhofar was flat at 0.727 baiza.

Muscat's index closed 0.25 per cent higher at 6,301.8 points, its sixth gain in the last seven sessions. Oman Flour Mills climbs 3.45 per cent to 0.690 basis points, National Bank of Oman gains 0.3 per cent. Qatar's benchmark closed at its highest level since May 4 ending 0.76 per cent up at 7,510 points. Nawras could raise as much as $608 million in its 40 per cent IPO after setting a price range of 702-902 baisas per share. Qatar Telecom closes 4.96 per cent up to a year-high, its biggest one-day gain since December. Other index heavyweights such as Industries Qatar (IQ) and Qatar Gas Transport Co (Nakilat) climb. IQ rises 0.19 per cent and Nakilat ends 0.52 per cent higher.