Gulf stocks markets turned bullish on Wednesday with all the indexes registering gains amid positive expectations on corporate second-quarter earnings. Saudi Arabia's benchmark Tadawul All-Share Index (TASI) rose 0.99 percent to 5,631.78 points. Dubai and Abu Dhabi indexes also rose 1.2 percent to 1,712 points and 1.1 percent to 2,637 points, respectively. Kuwait's index climbed 0.5 percent to 7,546 points while Bahrain also posted 1.4 percent rise to 1,507 points, its first advance in five sessions. Oman's index rose 1.4 percent to 5,427 points. Qatar's index made its largest one-day gain for more than four months, with the benchmark surging 6.6 percent. Saudi banks have not made provisions relating to two troubled firms in their second-quarter results, boosting their performance. SAIB profit down 33% Saudi Investment Bank (SAIB), which received two rating downgrades last month, said on Wednesday its net profit fell 32.8 percent in the second quarter and showed a rare drop in customer deposits. The lender made SR188 million ($50.13 million) in the three months to June 30, down from SR280 million in the year-earlier period, it said in a statement. Earnings per share were SR0.95 at the end of the June down from SR1.20 a year earlier. Net operating income fell 41 percent to SR361 million after net lending income slid 25 percent to SR263 million.
