Muscat: The MSM30 index ended on a positive note to close at 6486.87 points, up by 0.36 per cent. MSM Shariah Index was marginally down 0.04% at 1021.34 points. Global Financial Investment was the most active in terms of volume, while Bank Muscat was most active in terms of as turnover in yesterday's trading. Oman & Emirates was the top gainer for the day to close up 4.07 per cent while Majan Glass was the top loser for the day and closed down by 3.23 per cent.
A total number of 1281 trades were executed in yesterday's trading session generating turnover of OMR5.87 million with over 16.54 million shares traded. Out of 51 traded stocks, 24 advanced, 11 declined and 16 remained unchanged. At the session close, GCC & Arab investors switched to net buyers for MR756,000 while Foreign investors switched to net sellers for OMR688,000 followed by Omani investors for OMR68,000 worth of shares.
Financial Sector Index up by 0.81 per cent at 7936.03 points. Oman & Emirates, DIDIC, Global Financial Investment, Ominvest and DBIH increased by 4.07 per cent, 3.62 per cent, 2.04 per cent, 2.00 per cent and 1.85 per cent respectively. HSBC Bank Oman, Bank Nizwa and United Finance fell by 1.05 per cent, 0.86 per cent and 0.65 per cent respectively.
The Industrial Sector Index closed at 9398.67 points, up by 0.58 per cent. Oman Cables, National Aluminium, Gulf International Chemicals, A Saffa Foods and Jazeera Steel Products increased by 3.44 per cent, 1.86 per cent, 1.20 per cent, 1.06 per cent and 1.03 per cent respectively. Majan Glass, Oman Fisheries and Al Hassan Engineering declined by 3.23 per cent, 0.92 per cent and 0.49 per cent respectively.
Services Sector Index was marginally down by 0.02 per cent and closed at 3355.98 points. United Power, Sohar Power, Sharqiyah Desalination and Al Jazeira Services increased by 3.13 per cent, 2.99 per cent, 1.09 per cent and 0.42 per cent respectively. Port Service Corp, Nawras, OIFC and Oman Telecom declined by 0.81 per cent, 0.60 per cent, 0.37 per cent and 0.07 per cent respectively.
Egypt shares gain
Egypt's stocks rebounded from the biggest drop in almost a month as the interim president set a timeline for new elections. Benchmark bonds fell for a second day and default risk jumped after fatal clashes in Cairo.
The benchmark EGX 30 Index climbed 3.4 per cent to 5,297.25 at 1:20pm in Cairo, set for the biggest increase since July 4, as all but one stock advanced. Commercial International Bank Egypt, the nation's biggest publicly traded lender, led the gains, jumping 4.5 per cent on volume of 76 per cent of the three- month daily average. The yield on the government's 5.75 per cent bonds due in April 2020 surged 41 basis points to 9.74 per cent.
Five-year credit default swaps climbed 30 basis points to 805, according to data provider CMA. Egypt has $4.4 billion of local debt maturing by the end of the year, or 30 per cent of its foreign reserves, according to data compiled by Bloomberg. Some 169 billion pounds of domestic debt, a record, is due this quarter, the data show.
Political turmoil has impeded Egypt's ability to pull itself out of the worst economic slump in two decades. Importers have scaled back business, trimming demand for dollars on the black market and leading to a strengthening of the Egyptian pound in unregulated trading.