Banks slide as Oman rally stalls

Banks decline as Oman's index ends lower for a first session in six in subdued trade. With markets in the United Arab Emirates and Saudi Arabia closed, regional investors are winding down ahead of Eid al-Fitr, which marks the end of Ramadan. Bank Muscat falls 0.2 per cent, National Bank of Oman loses 1.5 per cent and Oman International Bank drops 0.4 per cent. "It was a very quiet session, with some buying from local pension fund into Bank Muscat as foreign and local institutions sold," says Adel Nasr, United Securities brokerage manager. "Tomorrow is likely to be even more dull." The index falls 0.09 per cent to 6,286 points.