Muscat: The MSM 30 Index closed higher at 6780.90 points, up by 0.13 per cent. MSM Shariah Index also closed up marginally by 0.18 per cent at 1065.87 points.
Bank Muscat was the most active in terms of volume as well as turnover. Areej Vegetable Oil was the top gainer and closed up by 9.95 per cent, while Majan Glass was the top loser, closing down by 2.58 per cent.
Altogether 1,019 trades were executed in yesterday's session generating a turnover of OMR6.66 million with over 16.01 million shares traded. Out of 45 traded stocks, 12 advanced, 17 declined and 16 were unchanged. Omani investors were net buyers for to the tune of OMR983,000 worth of shares. GCC & Arab investors were net sellers and sold shares worth OMR674,000 followed by foreign investors at OMR309,000.
Financial Sector Index marginally up by 0.06 per cent at 8249.75 points. Al Izz Islamic Bank, Al Madina Investment, Bank Muscat, Bank Dhofar and Bank Sohar increased by 0.94 per cent, 0.65 per cent, 0.65 per cent, 0.56 per cent and 0.48 per cent respectively. Al Anwar Holding, Oman United Insurance, Al Sharqiya Investment Holding, Global Financial Investment and Gulf Investment Services declined by 1.15 per cent,1.04 per cent, 0.91 per cent, 0.61 per cent and 0.52 per cent respectively.
The Industrial Sector Index down by 0.20 per cent at 10067.05 points. Areej Vegetable Oil and Gulf International Chemicals increased by 9.95 per cent and 0.51 per cent respectively. Majan Glass, Al Hassan Engineering, Oman Fisheries, Al Anwar Ceramic, National Aluminium Products and Voltamp Energy declined by 2.58 per cent, 1.14 per cent, 0.95 per cent, 0.71 per cent, 0.55 per cent and 0.42 per cent respectively.
Services Sector Index up by 0.15 per cent at 3610.35 points.Shell Oman Marketing, Nawras, Majan College and Sharqiyah Desalination increased by 0.85 per cent, 0.71 per cent, 0.45 per cent and 0.41 per cent respectively. Renaissance Services was the only loser and was down by 0.55 per cent to close at 728 baisas.
Aldar's sukuk sale
Abu Dhabi's largest property developer Aldar has hired five banks to arrange the sale of a benchmark-sized sukuk, to refinance debt, three banking sources said.
The proposed bond sale would be Aldar's first since it completed its Abu Dhabi government-backed merger with Sorouh Real Estate in June to create the second-largest listed property firm in the UAE and one of the biggest in the Middle East, with assets of $13 billion.
The majority state-owned firm has hired National Bank of Abu Dhabi, First Gulf Bank Dubai Islamic Bank, Standard Chartered and Goldman Sachs, the sources said.
Aldar plans to issue the sukuk before year-end, the sources added. Benchmark-sized typically means that the size of a bond will be at least $500 million.
"Post-merger, Aldar is adopting prudent and strategic measures to refinance and pay its debt, and a sukuk issuance is a logical step with the markets looking good," one banking source involved in the deal said.
When it was struggling during Abu Dhabi's property market crash, Aldar received government support worth around $10 billion, to be paid in instalments over time, in exchange for assets.