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30 Omani Shares Retreat, Led by Muscat, Renaissance

BAHRAIN - Omani shares fell, led by Bank Muscat SAOG, the largest Omani lender by market value, and Renaissance Services Co. Bahrain’s benchmark index lost 0.03 per cent.

The Muscat Securities Market 30 Index ended the session down 0.50 per cent to 6,137.66. The gauge has declined 32 per cent this year.

The Bahrain All Share Index dropped slightly to 1,923.93.

“Trading has been thin in terms of volume and value”, said Mohammed al-Hatimi, a broker at Al Madina Finance and Investment Services, in a telephone interview from Muscat on Sunday.

While local investors were preoccupied by the coming holiday, foreign investors didn’t show up, he said.

Bank Muscat declined 1.3 per cent to 0.837 Omani rials, while Renaissance, a Muscat-based diversified energy services firm, lost 1.96 per cent to 0.801 rials.

Bahrain Islamic Bank, the country’s oldest lender complying with Muslim banking rules, fell 1.29 per cent to 307 fils in the Bahrain Stock Exchange.

Markets in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar are closed for the religious holiday of Eid Al Adha. The Omani and Bahraini bourses will be shut for the holiday starting tomorrow and open December 14 and December 11 respectively.