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Muscat share index ends lower


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Muscat: The MSM 30 Index ended lower at 7,328.40 points, down by 0.10 per cent. MSM Shariah Index also declined by 0.15 per cent  at 1075.68 points.

Oman & Emirates was the most active in terms of volume as well as turnover. Salalah Mills was the top gainer, up by 4.53 per cent, while Oman Fisheries, which lost the most, was down by 5.21 per cent.

Altogether 1,125 trades were executed on Sunday's session generating a turnover of OMR5.35 million with over 16.36 million shares traded. Out of 48 traded stocks, 6 advanced, 19 declined and 23 were unchanged. Omani investors switched to net buyers to the tune of OMR294,000 worth of shares. Foreign investors sold shares amounting to OMR192,000 followed by GCC & Arab investors at OMR102,000.

Financial Sector Index down by 0.41 per cent at 8915.95 points. Bank Muscat was the only gainer and was up by 0.55 per cent to close at 728 baisas. Oman & Emirates, Al Anwar Holding, DBIH and Al Izz Islamic declined by 4.85 per cent, 3.75 per cent, 2 per cent and 1.96 per cent respectively.

The Industrial Sector Index up by 0.35 per cent at 10230.17 points. Salalah Mills, Al Anwar Ceramic, Al Hassan Engineering and National Aluminium increased by 4.53 per cent, 1.80 per cent, 1.33 per cent and 0.40 per cent respectively.

Construction Material Industries,Oman Fisheries, Gulf International Chemicals and Oman Cables declined by5.21 per cent,  3.70 per cent, 1.28 per cent and 0.57 per cent respectively.

Services Sector Index was down by 0.18 per cent at 3670.16 points. Sembcorp Salalah was the only gainer and was up by 0.23 per cent to close at OMR2.155. Port Services,  ACWA Power, Al Jazeera Services and Oman Telecom declined by 3.61 per cent, 0.55 per cent, 0.51 per cent and 0.29 per cent respectively.

Abu Dhabi stocks rise
Abu Dhabi stocks rose the most in more than a week, led by First Gulf Bank, as investors speculated earnings at the emirate's second-largest lender will keep improving in the second half. Dubai's main gauge advanced.

The ADX General Index added 0.4 per cent, the most since July 31, to 4,943.20 at the close in the Emirate.
 
FGB, which accounts for more than 25 per cent of the gauge, gained as much as 2.5 per cent before closing 0.6 per cent higher. Dana Gas climbed 1.5 per cent after it said shareholder Crescent Petroleum won an arbitration ruling against National Iranian Oil. Dubai's DFM General Index advanced 0.1 per cent to 4,739.95.

"A decent set of second-quarter numbers from FGB, driven by a strong performance across all business segments, means the bank remains one of the preferred picks among investors in this sector," Nayal Khan, head of institutional sales and trading at Naeem Holding brokerage in Dubai, said by e-mail on Sunday. "The bank is expected to continue repeating its performance in the second half of the year."

Earnings among United Arab Emirates banks are being buoyed by the nation's economic growth, with expansion forecast to top 4.1 percent this year, according to the median estimate of 18 economists surveyed by Bloomberg. FGB said July 22 its second- quarter profit climbed 16 percent from a year earlier to Dh1.35 billion ($368 million), beating the mean estimate of five analysts.

The bank, controlled by the ruling family of Abu Dhabi, rose to Dh18.10 on Sunday.

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