OT fell 3.4 percent on news its chairman is to lose control
of Greek telecom business Wind Hellas after creditors emerged as the preferred
bidders on Monday, traders said.
Orascom shed 3.4 percent in heavy trading, while the main
index inched down 0.4 percent to 6,822 points.
OT's GDRs dipped 0.3 percent after tumbling 5.8 percent on
Monday.
In Abu Dhabi, the index closed at a six-month high, led by
banking and telecom stocks. The index advanced 1.1 percent to 2,808 points.
Abu Dhabi Islamic Bank (ADIB) gained 3.9 percent, a day
after posting a 31.3 percent rise in quarterly profit, helping lift the
emirate's index 1.1 percent to its highest close since April 26.
The second largest Islamic lender in the United Arab
Emirates made a net profit of 314.5 million dirhams ($85.62) in the three
months to Sept. 30, up from 239.3 million dirhams in the same period a year
earlier.
Emirates Telecommunications Corp. (Etisalat) rose 2.6
percent as local investors bought into the stock, helping it reach its highest
value since November 2008.
Dubai's index gained 0.3 percent to 1,744 points on a late
rally by property stocks. Arabtec climbed 1.8 percent.
In Saudi Arabia, the Tadawul All-Share Index (TASI) fell
0.34 percent to 6,263.61 points. The sector activity for the day was mostly
negative with 6 out of 15 sectors closing with gains ranging from 0.04 percent
by the Retail sector to 0.90 percent by the Insurance sector. On the other hand
the losing sectors for the day ranged from 0.09 percent by the Hotel &
Tourism sector to 2.82 percent by the Energy & Utilities sector. The
overall market breadth for the day was negative with 56 advancers against 72
decliners giving it an AD ratio of 0.77, the Financial Transaction House (FTH)
said in its daily market commentary.
The liquidity for the day reached SR2.65 billion.
The Kuwaiti index retreated 0.4 percent to 7,019 points,
while the stock index in Qatar rose 0.5 percent to 7,825 points.
The Omani index ended 0.08 percent higher at 6,551 points.
— With input from agencies
