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Gulf Stocks: National Investments, Oman Cable, Sorouh, Zain

April 17 (Bloomberg) -- Kuwait’s benchmark SE Price Index fell the most in a month, dropping 0.7 percent to 6,342.90 at the 12:30 p.m. close in Kuwait City. Dubai’s gauge rose 1.6 percent and Abu Dhabi’s measure gained 0.7 percent. Oman’s MSM30 Index fell 0.2 percent.

The following shares rose or fell in the Persian Gulf region. Symbols are in parentheses.

National Investments Co. (NINV KK) tumbled 6.8 percent, the most since March 20, to 275 fils. Nasser al-Kharafi, chairman of Kharafi Group which controls the investment company, died of a heart attack.

Mobile Telecommunications Co. (ZAIN KK) fell 3 percent to 1,160 fils, the lowest since July last year. Kharafi Group is the second-largest shareholder of the Kuwaiti cellular phone operator known as Zain.

Oman Cable Industry (OCAI OM) dropped 9 percent to 1.04 rials, the lowest level since March 30. First-quarter profit dropped to 1.05 million rials from 1.73 million rials in the year-earlier period.

Sorouh Real Estate Co. (SOROUH UH) rose 2.1 percent to 1.45 dirhams, the highest level since Jan. 26. The Abu Dhabi-based property developer will deliver 7,000 units over four years, Chief Financial Officer Richard Amos said.

To contact the reporter on this story: Alaa Shahine in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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