Muscat: The MSM30 Index closed at 5,999.57 points, marginally up by 0.04 per cent. Transgulf Investment Holding was the most active in terms of volume, while Bank Sohar was the most active in terms of turnover. Construction Material Industries was the top gainer and closed up by 3.57 per cent, while Bank Sohar was the top loser, closing down by 2.65 per cent.
A total number of 2,148 trades were executed in yesterday's trading session generating turnover of OMR9.82 million with over 50 million shares traded. Out of 52 traded stocks, 18 advanced, 15 declined and 19 remained unchanged. Omani investors were net buyers for OMR414,000 followed by foreign investors for OMR8,000 while GCC and Arab investors were net sellers for OMR422,000 worth of shares.
Financial Sector Index was down by 0.19 per cent and closed at 7054.19 points. Gulf Investment Services, Financial Services, Muscat Finance, Ahli Bank and Bank Muscat increased by 3.42 per cent, 2.78 per cent, 1.16 per cent, 1.11 per cent and 0.48 per cent, respectively. Bank Sohar, Oman & Emirates, Al Sharqia Investment Co, Global Financial Investment and DIDIC declined by 2.65 per cent, 2.59 per cent, 1.60 per cent, 0.96 per cent and 0.94 per cent, respectively.
The Industrial Sector Index closed at 8234.67 points, up by 0.24 per cent. Construction Material Industries, Gulf International Chemicals, Oman Fisheries and Oman Cement increased by 3.57 per cent, 1.09 per cent, 0.90 per cent and 0.77 per cent, respectively. National Aluminium Products and Dhofar Cattlefeed declined by 0.87 per cent and 0.33 per cent, respectively.
Services Sector Index closed at 3115.67 points, marginally down by 0.09 per cent. Nawras, Oman Telecom and Port Services increased by 0.56 per cent, 0.48 per cent and 0.18 per cent, respectively. OIFC, Al Jazeira Services, United Power and Renaissance Services declined by 2.24 per cent, 0.64 per cent, 0.63 per cent and 0.41 per cent, respectively.
Emerging stocks climb
Emerging-market stocks climbed to a two-week high as record Chinese purchases of foreign currency signaled fund inflows while US service industries growth boosted exporters. Venezuelan bonds fell after the death of President Hugo Chavez.
Bank of China Ltd added 2.5 per cent in Hong Kong as the nation's benchmark money market rate slid and the yuan climbed close to a 19-year high. Samsung Electronics Co., which sourced 20 per cent of its 2011 sales in the US, reached a two-month high in Seoul. Hungary's BUX Index led gains, lifted by Mol Nyrt., the nation's largest refiner, and OTP Bank Nyrt. Yields on Venezuela's September 2027 dollar bonds rose to the highest since January. Kenya's shilling headed for its biggest drop against the dollar in more than a year as results from presidential elections on March 4 were delayed.
The MSCI Emerging Markets Index rose 0.8 per cent to 1,057.98 at 1:10 pm in London, heading for the highest close since February 20. China's central bank and financial institutions bought a record net $110 billion of foreign currency in January, a signal the nation's economic recovery is spurring funds to buy Chinese assets, according to data from the People's Bank of China released yesterday. The Institute for Supply Management's non-manufacturing index increased to 56 from 55.2. - United Securities/Bloomberg News
in January, data showed yesterday. Readings above 50 signal expansion.
"Despite the problems it's facing, the US is showing a steady recovery," said Allan Yu, who helps manage $10.9 billion at Metropolitan Bank & Trust Co. in Manila. "A continued US recovery will be positive for emerging markets in terms of liquidity and earnings growth."
The 21 countries in the developing-nations gauge send about 17 per cent of their exports to the US, data compiled by the World Trade Organisation show. Samsung Electronics rose for a second day. The extra yield investors demand to hold emerging- market debt over US Treasuries fell four basis points, or 0.04 percentage point, to 280 basis points, according to the JPMorgan Chase & Co.'s EMBI Global Index.
Venezuela's dollar-denominated bonds declined as Chavez's deputy Nicolas Maduro stepped in to run the country, South America's biggest oil exporter. The yield on the $4 billion of debt maturing in 2027 rose 11 basis points to 9.1 per cent. Credit-default swaps used to protect Venezuelan debt against non-payment for five years climbed 11 basis points to 652.
Brazil's Bovespa rose 0.8 per cent, the first gain in four days.
Kenya's shilling weakened 1 per cent to 86.35 against the dollar, heading for its biggest drop since May 2012 as results from presidential elections on March 4 were delayed. This week's election was the first since a disputed vote five years ago triggered violence in which more than 1,100 people died and another 350,000 were forced to flee their homes.
Russia's Micex Index increased for a second day, adding 0.7 per cent. Hungary's BUX Index rose 1.5 percent, its highest since February 20. Mol soared 3 per cent, the most on a closing basis since November 30, while OTP Bank, the nation's largest lender, added 0.9 per cent.