Muscat: Selective buying on index weighted stocks led the MSM 30 Index to close with gains at 6761.37 points, up by 0.36 per cent. MSM Shariah Index also rose marginally by 0.08 per cent at 1079.95 points.
OIFC was the most active in terms of volume as well as turnover. OIFC was also the top gainer and closed up by 2.84 per cent, while National Gas was the top loser and declined by 4.82 per cent.
Altogether 1,444 trades were executed in yesterday's session generating a turnover of OMR7.50 million with over 22.44 million shares traded. Out of 55 traded stocks, 21 advanced, 9 declined and 25 were unchanged. Foreign investors were net buyers to the tune of OMR586,000 worth of shares, followed by GCC & Arab investors at OMR274,000. Omani investors sold shares amounting to OMR860,000.
Financial Sector Index up by 0.51 per cent at 8143.91 points. HSBC Bank Oman, Oman United Insurance, Bank Sohar, Al Madina Investment and Taageer Finance increased by 1.80 per cent, 1.53 per cent, 1.46 per cent, 1.41 per cent and 1.33 per cent respectively. National Securities, ONIC Holding, Al Madina Takaful, Gulf Investment Services and Ominvest declined by 2.08 per cent, 0.83 per cent, 0.72 per cent, 0.52 per cent and 0.46 per cent respectively.
The Industrial Sector Index marginally up by 0.08 per cent at 10323.80 points. Oman Fiber Optic, Al Hassan Engineering, Oman Cement, Gulf International Chemicals and Al Anwar Ceramic increased by 2.72 per cent, 0.81 per cent, 0.50 per cent, 0.48 per cent and 0.36 per cent respectively. Voltamp Energy was the only loser and was down by 0.84 per cent to close at OMR0.47.
Services Sector Index up by 0.28 per cent at 3631.45 points. OIFC, Oman Education Training Institute, Renaissance Services, Al Jazeira Services and Al Kamil Power increased by 2.84 per cent, 1.16 per cent, 1.12 per cent, 0.36 per cent and 0.18 per cent respectively. National Gas and ACWA Power Barka declined by 4.82 per cent and 0.64 per cent respectively.
Emerging stocks drop
Emerging-market stocks fell to the lowest level in a month after a survey showing Chinese manufacturing unexpectedly fell weighed on Asian shares and before the United States Federal Reserve starts a two-day meeting on Monday.
SAIC Motor paced losses by Chinese automakers in Shanghai amid concern city governments will impose more measures to curb pollution. Ukrainian stocks slid as anti-government protests continued. Equity gauges in Russia, Turkey and Hungary rose as euro-area factory output beat estimates. Advanced Semiconductor Engineering Inc. tumbled the most in 22 months in Taipei after regulators ordered some machines idled at a plant.
The MSCI Emerging Markets Index dropped for a fifth day, losing 0.2 per cent to 988.17 in London. China's Purchasing Managers' Index fell to a three-month low, suggesting the world's second-largest economy is vulnerable to a slowdown. Investors are awaiting the fate of an $85 billion monthly bond-buying programme before the Fed's monetary policy meeting.
"The week is going to be dominated by the Fed meeting and the taper," Neil Shearing, the chief emerging-markets economist at Capital Economics in London, said by phone. "It is the weak Chinese data that is weighing on the Asian markets. The emerging European stocks have got a bit of a boost from the eurozone data."
The US central bank may decide to reduce stimulus at its meeting this week, according to 34 per cent of economists in a survey, up from 17 per cent in a November 8 poll.