MUSCAT — The equities market recovered slightly from Monday's decline to close 10.43 points (0.2 per cent) higher at 4731.00. The financial sector rose despite narrow declines noted in all banking scrips except for National Bank of Oman. Services sector rose while industrial sector notched down due to a decline recorded primarily in Oman Cement and Oman Cables Industry.
NBO advanced on thick volumes worth RO825,500 as the equity added 90 baisa (2.1 per cent) to close at RO4.490, facing some resistance at RO4.500 levels. Salalah Mills, top gainer, and Muscat Finance gained just over 3 per cent to close at RO1.550 and RO2.640, respectively.
Rounding the top gainers were Oman Refreshment (1.6 per cent) and United Power (1.54 per cent). Among the declining equities, Oman and Emirates (UAE) and Oman Cables Industry lost 400 baisa each to close at RO3.600 and RO7.000.
Other top declining scrips included Transgulf Holding (-2.8 per cent) and Alliance Housing Bank (-2.5 per cent). Omantel broke the lower resistance levels of RO1.720 and RO1.750, touching a new low of RO1.700 during intraday and closing at RO1.710, on 783,998 shares traded at a total value of RO1.34 million.
Total volumes stood wide as a transfer deal took place on Oman United Insurance. The scrip registered trading in 1.2 million shares at a total value of RO4.85 million. Besides Omantel and NBO, healthy volumes were also noted in Al Khaleej Polypropylene, the scrip ended 40 baisa higher.
Oman National Electric has won a tender valued at RO752,164 for the operation & maintenance of equipment and services of Sultan Qaboos Hospital, Salalah and its affiliated health units in Dhofar. The duration of the contract will be for three years commencing January 1, 2006. — BankMuscat