Business


Negative sentiment on MSM



Muscat: The MSM30 Index ended on a negative note at 5578.75 points, down by 0.41 per cent. Gulf Investment Services was the most active in terms of volume while Bank Muscat was the most active in terms of turnover. Port Service was the top gainer for the day and closed up by 0.41 per cent, while A'Saffa Foods was the top loser for the day and closed down by 4.46 per cent.

A total number of 910 trades were executed in yesterday's trading session generating turnover of RO2.46 million with over 10.21 million shares traded. Out of 47 traded stocks, five advanced, 23 declined and 19 remained unchanged. Omani investors were net buyers for RO343,000 followed by GCC and Arab investors for RO84,000 while foreign investors were net sellers for RO427,000 worth of shares.

Financial Sector Index was down by 0.50 per cent and closed at 6207.18 points. BankDhofar, Taageer Finance, Transgulf Holding, Ahli Bank and Muscat Finance declined by 1.74 per cent, 1.56 per cent, 1.24 per cent, 1.23 per cent and 1.23 per cent, respectively.
The Industrial Sector Index was down by 0.32 per cent and closed at 7163.02 points. A'Saffa Foods, Al Hassan Engineering, Oman Fisheries, Galfar Engineering and Voltamp Energy declined by 4.66 per cent, 1.24 per cent, 0.98 per cent, 0.80 per cent and 0.57 per cent, respectively.

Services Sector Index closed at 2825.97 points, marginally up by 0.02 per cent. Port Service Corp and Sohar Power increased by 2.78 per cent and 0.13 per cent, respectively. Nawras, OIFC, Oman Telecom, Al Jazeera Services and Renaissance Services declined by 1.02 per cent, 0.56 per cent, 0.56 per cent, 0.54 per cent and 0.40 per cent, respectively.
Emerging stocks fall

Most emerging-market stocks fell as France lost its top credit rating for a second time and leaders in Europe prepared to discuss Greece's finances, overshadowing the biggest rally for technology companies in five weeks. LG Display Co., a liquid-crystal display maker and Apple Inc. supplier, rallied after Hyundai Securities Co. said demand for LCD televisions in North America will rise this quarter.

OAO Rostelecom, Russia's dominant fixed-line telephone company, headed for a biggest drop since July after reports investigators searched the chief executive officer's house. The MSCI Emerging Markets Index was little changed at 978.43 as of 11:07 a.m. in London, as 344 stocks slid and 278 rose. The gauge earlier rose as much as 0.5 per cent. Moody's Investors Service cut France to Aa1 from Aaa, citing a worsening growth outlook for Europe's second-largest economy. A 15 billion-euro ($19.2 billion) gap in Greece's public accounts will be discussed at a meeting scheduled for 5:00 p.m. in Brussels. US housing starts probably declined in October from a month earlier.

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