Muscat: The MSM30 Index ended on a flat note to close at 6132.92 points, marginally up by 0.03 per cent. Bank Sohar was the most active in terms of volume while Bank Muscat was the most active in terms of turnover.
Al Sharqia Investment was the top gainer for the day to close up by 7.52 per cent, while United Power was the top loser for the day and closed down by 9.22 per cent.
A total number of 1,809 trades were executed in yesterday's trading session generating turnover of OMR9.68 million with over 38.23 million shares traded. Out of 47 traded stocks, 15 advanced, 22 declined and 10 remained unchanged.
Foreign investors switched to net buyers for OMR1.62 million while Omani investors were net sellers of OMR871,000 million followed by GCC and Arab investors for OMR752,000 worth of shares.
Financial Sector Index was marginally up by 0.09 per cent and closed at 7307.82 points. Al Sharqia Investment, Oman Orix Leasing, United Finance, Bank Sohar and National Bank of Oman increased by 7.52 per cent, 3.92 per cent, 3.85 per cent, 1.61 per cent and 0.99 per cent, respectively.
DBIH, Bank Dhofar, Al Izz Islamic Bank, Al Anwar Holding, HSBC Bank Oman and Global Financial Investment declined by 2.63 per cent, 1.90 per cent, 1.84 per cent, 1.62 per cent, 1.07 per cent and 0.91 per cent, respectively.
The Industrial Sector Index closed at 8353.87 points, marginally down by 0.09 per cent. Oman Flour Mills, Dhofar Cattlefeed, Oman Cement and Raysut Cement increased by 1.12 per cent, 0.69 per cent, 0.16 per cent and 0.07 per cent, respectively. National Aluminium Products, Oman.
Fisheries, Gulf International Chemicals and Al Hassan Engineering declined by 2.20 per cent, 1.74 per cent, 1.59 per cent, 1.54 per cent and 1.12 per cent, respectively.
Services Sector Index closed at 3241.50 points, up by 0.12 per cent. Oman National Engineering, Nawras, Renaissance Services and Al Maha Marketing increased by 4.71 per cent, 1.08 per cent, 0.59 per cent and 0.52 per cent, respectively. United Power, Shell Oman Marketing, Al Jazeira Services, ACWA Power Barka and Oman Telecom declined by 9.22 per cent, 0.60 per cent, 0.42 per cent, 0.38 per cent and 0.34 per cent, respectively.
Emerging stocks rise
Emerging-market stocks rose for the first time in eight days as European policy makers weighed options for Cyprus's bailout. Chinese shares rallied the most in two months, while South Korea's won weakened to the lowest level since September.
VTB Group, Russia's second-biggest bank, rebounded from a three-month low, and OTP Bank Nyrt., Hungary's largest lender, snapped a two-day decline. China Citic Bank Corp. climbed by the 10 per cent daily limit in Shanghai. Mirae Asset Securities Co. fell for a third day in Seoul as a possible cyberattack shut down some computer networks.
The MSCI Emerging Markets Index gained 0.2 per cent to 1,026.50 at 1:02 p.m. in London even as 361 stocks fell and 332 stocks rose. European Central Bank's Governing Council meets in Frankfurt after Cypriot lawmakers rejected a proposed levy on bank deposits, throwing into limbo a rescue package. The won lost 0.8 per cent.
versus the dollar after the government said it will consider steps to curb capital flows if needed.
"The panic is abating and investors are moving back to riskier assets such as emerging-market equities," Joseph Dayan, head of markets at BCS Financial Group in London, said by e- mail. "Investors fairly quickly realised that Cyprus in not a precedent for other peripheral European countries and that deposits in mainstream financial systems remain off limits."
The extra yield investors demand to own developing-nation dollar debt over US Treasuries fell three basis points, or 0.03 percentage point, to 297, according to the JPMorgan Chase & Co. EMBI Global Index.
The Shanghai Composite Index climbed 2.7 per cent after Market Studies LLC's Tom DeMark said the gauge will rally as much as 28 per cent by September. Brazil's Bovespa index was little changed in early trading.
Russia's Micex Index gained 0.5 per cent, rising for the first time in four days. VTB jumped 2.3 per cent after the company said it may lose "only tens of millions of euros" in Cyprus as a worst-case scenario. The ruble strengthened 0.3 per cent versus the dollar.
While Moody's Investors Service said VTB is "most exposed" to Cyprus's credit crisis, the lender's direct losses are seen as "insignificant," First Deputy Chief Executive Officer Vasily Titov told reporters in Moscow.
Hungary's BUX Index added 1.6 per cent, snapping a six-day losing streak and the forint gained for a second day versus the euro. OTP Bank rallied 3.3 per cent.
Hungary plans no "dramatic" measures to help foreign- currency borrowers, Daniel Gyuris, the acting head of the Hungarian Banking Association, said. Prime Minister Viktor Orban temporarily allowed the early repayment of foreign-currency mortgages at below-market rates in 2011, forcing lenders to swallow losses and making the banking.
Poland's WIG20 Index rose 0.5 per cent. KGHM Polska Miedz SA, the nation's sole copper producer, climbed 2.7 per cent as metals rebounded.
TVN SA gained 2.7 per cent and the yield on its 2017 Eurobonds dropped to a two-month low after Poland's second- biggest television group announced plans to pay a record dividend and refinance debt.