MUSCAT — The MSM30 index shed 22.6 points to close at 6,247 points, 0.36 per cent lower. The total shares exchanged decreased by 54.3 per cent to 8.2 million shares and the total value traded decreased by 54.2 per cent to RO3 million. The market breadth was weak as only 14 stocks advanced, while 27 stocks declined out of the 54 securities that traded.

All the sectors ended in the negative territory, Services & Insurance sector registered the biggest loss to close at 2,683 points followed by Banking & Investment sector, which fell by 1.13 per cent to close at 9,413 points. Industrial sector lost 0.78 per cent to close at 7,396 points.

The top two gainers were National Securities (9.82 per cent) and National Mineral Water (4.38 per cent) to close at RO0.123 and RO0.167. The top two losers were Food International (38 per cent) and Majan College (8.52 per cent) to close at RO0.124 and RO0.247.

The top two by volume traded were Al Anwar Holding (0.94 million shares) and Al Jazeera Steel Product (0.87 million shares). The top two by value traded were Renaissance Services (RO0.299 million) and Al Jazeera Steel Product (RO0.282 million).

DFM jumps

Dubai shares advanced to its highest in more than two weeks, led by Emaar Properties and Arabtec Holding, on investor speculation that declines so far this quarter are overdone given growth prospects.

Emaar, the biggest property developer in the United Arab Emirates, climbed to the highest in three weeks, recovering most of the losses since Dubai World first announced it would seek a standstill agreement on its debt repayments. Arabtec, the UAE’s largest construction company, rose to the highest in more than two weeks. The DFM Index, down 14 per cent this quarter, gained 2.5 per cent to 1,889.99, the highest close since November 30. Abu Dhabi’s General Index declined 0.9 per cent.