Three out of the seven markets ended in red with Oman leading the losses. Banks and petrochemicals dragged the Saudi index to a lower close by 0.4%. The Kuwaiti bourse bucked its negative trend posting gains up by 0.7% amid broad based buying.

Qatar benchmark closed flat as gains in industrial and services sectors were muted by the losses witnessed in banks and financial institutions. In Dubai, the index climbed 0.8% backed by market majors. UAE Economy minister said the economy is likely to grow by as much as 3.2% in 2010 compared to 1.3% in 2009. ADX index rose 0.7% amid positivity witnessed across the market sectors. Bahrain Stock Exchange closed on marginal losses (-0.05%) undermined by the losses registered in commercial banks. The Omani bourse extended its losses dropping 0.5% burdened by NBO and Renaissance which lost 5.5% and 1% respectively.