Muscat: The MSM 30 Index closed with gains at 6,677.05 points, up by 0.25 per cent. MSM Shariah Index also closed up by 0.13 per cent at 1050.59 points.
Gulf Investment was the most active in terms of volume as well as turnover. Al Shariqya Investment was top gainer and closed up by 2.96 per cent at 174 baisas, while Oman Fisheries lost the most, declining by 1.91 per cent at 103 baisas.
Altogether 1,312 trades were executed in yesterday's session generating a turnover of OMR5.84 million with over 24 million shares traded. Out of 47 traded stocks, 23 advanced, eight declined and 16 were unchanged.
GCC and Arab investors switched to net buyers to the tune of OMR201,000 worth of shares followed by foreign investors at OMR131,000. Omani investors, who were net sellers, sold shares worth OMR332,000.
Financial Sector Index rose 0.44 per cent at 8148.19 points. Al Sharqiya Investment, Al-Izz Islamic Bank, Financial Services, Oman United Insurance and Al Anwar Holding increased by 2.96 per cent, 2.80 per cent, 2.44 per cent, 2.43 per cent and 1.70 per cent respectively.
Taageer Finance, Global Financial Investment and DBIH declined by 1.30 per cent, 1.27 per cent and 1.09 per cent respectively.
Industry shares up
The Industrial Sector Index was up by 0.13 per cent at 9704.68 points. Al Anwar Ceramic, Oman Textile Holding, Galfar Engineering, National Aluminium Products and Voltamp Energy increased by 1.20 per cent, 1.05 per cent, 0.91 per cent, 0.63 per cent and 0.23 per cent respectively.
Oman Fisheries, Jazeera Steel Product and Oman Chlorine declined by 1.91 per cent, 0.66 per cent and 0.14 per cent respectively.
Services Sector Index closed at 3464.72 points, up by 0.07 per cent. Sharqiyah Desalination, Renaissance Services, Oman Education & Training Investment, OIFC and Sohar Power increased by 1.35 per cent, 0.76 per cent, 0.56 per cent, 0.39 per cent and 0.26 per cent respectively. Oman Fisheries, Jazeera Steel Product and Oman Chlorine declined by 1.91 per cent, 0.66 per cent and 0.14 per cent respectively.
Dubai shares rise
Dubai's stock index climbed to the highest in almost five years as investors sought riskier assets after political tension over Iran and Syria eased and the United States delayed cutting monetary stimulus.
The benchmark DFM General Index gained 1.2 per cent to 2,770.67 at the close in Dubai, the highest since November 2008. Gulf Navigation, which owns and operates a tanker fleet, soared to the highest in more than three years, while Dubai Financial Market, the Gulf's only publicly-traded stock market, closed at the highest in a month. Emaar Properties advanced the most in more than a week.
Political tension in the Middle East have eased after Iranian President Hassan Rouhani had a phone conversation with US President Barack Obama, the highest-level encounter between the two countries since before Iran's Islamic revolution of 1979. Also, Syria agreed to a UN-led plan to destroy its chemical weapons. The Federal Reserve unexpectedly delayed on September 18 reducing monetary stimulus.
Investors are adding risk after the "surprise of the Fed delaying tapering, regionally continued improvement in the Syrian situation and finally some thawing of sentiment between Iran and the US," Amer Khan, a Dubai-based director at Shuaa Asset Management, said in an e-mail yesterday.