Muscat: The MSM 30 Index snapped the seven-day positive stride and ended on a flat note to close at 6152.82 points, marginally down by 0.01 per cent. Construction Material Industries remained as the most active in terms of volume while Bank Muscat was the most active in terms of turnover.
Oman Filters was the top gainer for the day to close up by 100 per cent on third market followed by DBIH with 9.23 per cent. Oman United Insurance was the top loser for the day and closed down by 2.02 per cent.
A total number of 2156 trades were executed in yesterday's trading session generating turnover of OMR8.27 million with over 39.9 million shares traded. Out of 55 traded stocks, 19 advanced, 20 declined and 16 remained unchanged. Foreign investors were net buyers for OMR539,000 while GCC and Arab investors were net sellers for OMR332,000 followed by Omani investors for OMR207,000 worth of shares.
Financial Sector Index was marginally up by 0.07 per cent and closed at 7332.86 points. DBIH, Gulf Investment Services, Transgulf Holding, Al Sharqia Investment Services and BankDhofar increased by 9.23 per cent, 2.50 per cent, 1.70 per cent, 1.54 per cent and 0.75 per cent, respectively. Financial Services, Al Anwar Holding, BanK Sohar, ONIC Holding and Taageer Finance declined by 1.19 per cent, 1.05 per cent, 0.94 per cent and 0.54 per cent, respectively.
The Industrial Sector Index closed at 8357.18 points, marginally down by 0.05 per cent. Oman Filters Co, Sweets of Oman, National Aluminium Products, Al Hassan Engineering, Oman Fisheries and Gulf international Chemicals increased by 100 per cent, 8.82 per cent, 4.45 per cent, 1.11 per cent, 0.89 per cent and 0.53 per cent respectively. Dhofar Cattlefeed, Voltamp Energy, Al Anwar Ceramic Tiles, Jazeera Steel Product and Oman Cement declined by 1.68 per cent, 0.97 per cent, 0.88 per cent, 0.64 per cent and 0.31 per cent, respectively.
Services Sector Index closed at 3243.03 points, up by 0.20 per cent. ACWA Power Barka, Oman Telecom and Sohar Power increased by 8.95 per cent, 0.20 per cent and 0.04 per cent, respectively. Nawras, Renaissance Services, United Power and OIFC declined by 0.71 per cent, 0.59 per cent, 0.56 per cent and 0.38 per cent, respectively.
Emerging markets tumble
Emerging-market stocks tumbled, currencies weakened and borrowing costs rose as Europe's bailout of Cyprus sparked concern of renewed financial turmoil in the world's second-biggest economic bloc.
Samsung and Hyundai Merchant Marine, which got at least 17 per cent of their sales from Europe in 2011, both sank more than 2 per cent in Seoul. Russia's Micex Index fell 2.4 per cent, set for the biggest drop in four months. Industrial & Commercial Bank of China tumbled to a three-month low in Hong Kong after JPMorgan Chase downgraded Chinese shares. The ruble, lira and rand weakened at least 0.4 per cent against dollar.
The MSCI Emerging Markets Index sank 1.1 per cent to 1,030.49 at 5:21 p.m. in Hong Kong, its sixth day of declines.
Cyprus accounts for less than half a per cent of the 17-nation euro economy.
, the concern is that the one-time tax on accounts could trigger bank runs across Europe and further destabilise the financial system.
Cyprus also agreed to step up asset sales, make further budget cuts and increase its corporate tax. Russia, whose banks have loaned as much as $40 billion to Cypriot companies of Russian origin, will ease terms on its existing loans to Cyprus as the rescue unfolds, according to the plan.
OAO Sberbank, Russia's largest lender, tumbled 3.6 per cent in Moscow, the biggest decline in more than four months. VTB Group, the second biggest, fell 3.1 per cent.
The MSCI emerging-market index is headed for its lowest close since December 10 and the biggest one-day drop in more than three weeks. The extra yield investors demand to own developing- nation dollar debt over US Treasuries increased 8 basis points, or 0.08 percentage point, to 296, according to the JPMorgan EMBI Global Index.
Morgan Stanley cut its target this year for the MSCI emerging index to 1,220 from 1,230, reflecting a "moderate downgrade" in earnings forecasts, analysts led by Jonathan Garner wrote in a report.
The Shanghai Composite Index dropped 1.7 per cent, the lowest close since December 28. The Hang Seng China Enterprises Index slid 2.1 per cent to the lowest level since December 4. The measure of 40 Chinese stocks traded in Hong Kong entered a so-called correction after falling more than 10 per cent since February 1. JPMorgan reduced its recommendation on Chinese equities to underweight amid slower economic growth and inflation concerns, according to a report.