Firm trend continues

by Bloomberg News
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Muscat: The MSM 30 Index ended on a positive note for the second consecutive session and closed at 6013.10 points, up by 0.20 per cent.

Global Financial Investment was the most active in terms of volume, while Bank Muscat was the most active in terms of turnover. Global Financial Investment was the top gainer for the day and closed up by 5.56 per cent while Al Sharqia Investment was the top loser for the day and closed down by 1.61 per cent.

A total number of 2125 trades were executed in yesterday's trading session generating turnover of OMR8.95 million with over 38.72 million shares traded. Out of 57 traded stocks, 21 advanced, 11 declined and 25 remained unchanged. Foreign investors were net buyers for OMR744,000 while Omani investors were net sellers for OMR505,000 followed by GCC and Arab investors for OMR239,000 worth of shares.

Financial Sector Index was up by 0.49 per cent and closed at 7095.97 points. Global Financial Investment, National Securities, Financial Services and DIDIC increased by 5.66 per cent, 5.46 per cent, 2.67 per cent and 2.61 per cent, respectively. Al Sharqia Investment, Taageer Finance and HSBC Bank Oman declined by 1.61 per cent, 1.09 per cent and 1.04 per cent, respectively.

The Industrial Sector Index closed at 8218.52 points, down by 0.10 per cent. Al Anwar Ceramic, Dhofar Cattlefeed, Voltamp Energy , Oman Cement and National Aluminium Products increased by 1.62 per cent, 1.38 per cent, 0.79 per cent, 0.46 per cent and 0.44 per cent, respectively. Salalah Mills, Oman Fisheries, Oman Cables, Al Hassan Engineering and Galfar Engineering declined by 1.33 per cent, 0.90 per cent, 0.83 per cent, 0.58 per cent and 0.55 per cent, respectively.

Services Sector Index closed at 3174.68 points, marginally up by 0.05 per cent. Al Maha Marketing, Al Jaziera Services, United Power and Nawras increased by 0.78 per cent, 0.64 per cent, 0.50 per cent and 0.19 per cent, respectively. Oman Oil Marketing and Port Services Corp declined by 0.61 per cent and 0.36 per cent, respectively.

Emerging markets fall
Emerging market stocks fell from a two-week high and currencies weakened after Chinese economic data trailed forecasts and tensions between North Korea and South Korea escalated.

Want Want China Holdings, a snack maker, sank the most in six months after Chinese retail sales growth slowed.

The MSCI Emerging Markets Index slipped 0.1 per cent to 1,064.84 in Hong Kong. About 340 stocks declined and 273 rose. The gauge surged 1.2 per cent last week to the highest level since February 20. China's industrial output had the weakest start to a year since 2009 and lending and retail sales growth slowed, data in the past two days showed. The stock index's decline was limited by reports last week that showed the jobless rate in the US dropped and payrolls gained.

"Some investors may be using the North Korean issue as a reason to lock in their profits," Aldo Perkasa, who helps manage about $2 billion at PT Mandiri Manajemen Investasi, said by phone from Jakarta. "But the main focus should be on the global economy which is how China and the US are performing.".


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