Index gains, led by banking sector shares

03/01/2011 00:00 AST

The MSM30 Index increased 0.75 per cent to close at 6,806 points. The advance to decline ratio at the end of the trading session stood at 8.75:1 .The total shares exchanged decreased by 7.13 per cent to 11.803 million shares and the total value traded decreased by 3.89 per cent to RO5.711 million. The market breadth was positive with 35 gainers and four losers out of 53 traded securities.

Amongst the sectors, the Banking & Investment sector led the gain and increased 1.11 per cent to close at 8,412 points followed by Services & Insurance sector which gained 0.84 per cent to close at 2,728 points. Morover, the Industrial sector gained 0.62 per cent to close at 7,352 points.

The top two gainers were Oman Textile Holding (+4.72%) and Financial Services (+4.13%) to close at RO0.466 and RO0.126. The top two losers were National Gas (-2.42%) and Al Sharqia Inv. (-0.91%) to close at RO4.312 and RO0.109.

The top two by volume traded were Jazeera Steel Prodct (1.763 million shares) and Nawras (1.428 million shares).

The top two by value traded were BankMuscat (RO1.251 million) and Nawras (RO1.144 million).

Dubai shares gain

Dubai shares advanced the most in more than two months, leading gains in Gulf markets, as oil climbed to the highest year-end price since 2007. Dubai Investments, which owns stakes in more than 40 companies, soared the most since September 19. Drake & Scull International, rose for a fifth day.

. The DFM General Index advanced 2.3 per cent, the most since October 28, to 1,668.27 at the 2pm close in the emirate. The measure lost 9.6 per cent in 2010. Abu Dhabi’s ADX General Index increased 0.8 per cent and the Bloomberg GCC 200 Index of companies in the region climbed 0.3 per cent.

Agencies