Oman bourse ends with gains on last trading day of 2013

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Muscat: MSM 30 index ended the last trading session of this year with gains and closed at 6834.56 points, up by 0.27 per cent. The index registered an annual return of 18.64 per cent for the year 2013. MSM Shariah Index closed at 1099.68 points, up by 0.27 per cent. 

Gulf Investment Services was the most active in terms of volume while OIFC was the most active in terms of turnover. Al Omaniya Financial Services was the top gainer and closed up by 2.56 per cent while Oman Fibre Optic was the top loser and closed down by 5.00 per cent.

A total number of 1,794 trades were executed in Tuesday's trading session generating turnover of OMR11.00 million with over 34.87 million shares traded. Out of 60 traded stocks, 26 advanced, 17 declined and 17 were unchanged. GCC and Arab investors were net buyers for OMR1.10 million followed by foreign investors for OMR149,000 while Omani investors were net sellers for OMR1.25 million worth of shares. 

Financial Sector Index up
Financial Sector Index up by 0.12 per cent at 8153.77 points. Al Omaniya Financial Services, Oman Orix Leasing, Bank Sohar, United Finance and Bank Muscat increased by 2.56 per cent, 2.01 per cent 0.98 per cent, 0.68 per cent and 0.63 per cent respectively. Oman& Emirates, Al Sharqia Investment, Global Financial Investment, Financial Corp and  Al Madina  Investment  declined by 1.58 per cent, 1.51 per cent, 1.27 per cent, 0.87 per cent and 0.76 per cent respectively.

The Industrial Sector Index up by 0.23 per cent at 10406.82 points.  Al Hassan Engineering, Salalah Mills, Dhofar Cattlefeed, Gulf International Chemicals and Al Anwar Ceramic increased by 2.00 per cent, 1.39 per cent, 1.18 per cent, 0.94 per cent and 0.69 per cent respectively. Oman Fibre Optic, Galfar Engineering, Construction Material Industries, National Aluminium Products and Voltamp Energy declined by 5.00 per cent, 1.46 per cent, 1.41 per cent, 0.49 per cent and 0.42 per cent respectively.

Services Sector Index up by 0.13 per cent and closed at 3669.10 points. Oman National Engineering, Renaissance Services, Sharqiyah Desalination, Nawras and Sohar Power increased by 2.40 per cent, 1.11 per cent, 1.01 per cent, 0.67 per cent and 0.37 per cent respectively. Dhofar University, OIFC and Port Services Corp declined by 1.46 per cent, 1.46 per cent and 1.03 per cent respectively.

Telecom Egypt surges 
Telecom Egypt, the country's monopoly fixed-line telephone provider, rose to the highest in almost 11 months after a license to provide mobile services using its competitors' networks was approved.

The shares gained 2.2 per cent to 14.7 Egyptian pounds ($2.12)at 12:28pm in Cairo, the highest on a closing basis since February. The benchmark EGX 30 Index gained 0.4 per cent.

The telecommunications regulator will also allow the nation's three other mobile companies, Egyptian Co. for Mobile Services's Mobinil, Vodafone's local unit and Emirates Telecommunications Corp.'s Etisalat Misr division, to provide landline services using Telecom Egypt's infrastructure. Egypt's cabinet is yet to give its final approval to the license.

"It should be positive for Telecom Egypt because it will grant it direct entry to the mobile market without any capital intensive investments in the network," said Ahmed Adel, telecommunications analyst at Naeem.

"They will be able to work in the market for a year or two, making a subscribers base without any cost in network," he added.

Telecom Egypt hasn't been informed officially by the National Telecommunications Regulatory Authority, it said yesterday in a statement. It will consider bidding for a full license when faster fourth-generation frequencies are offered by the government, Chief Executive Officer Mohammed Elnawawy said in November 13 interview.

Telecom Egypt shares gained 3.9 per cent this year compared to 25 per cent advance in the benchmark EGX 30 Index.

The 12- month yield on the company's dividend is 8.9 per cent and it last paid investors 1.30 pounds per share on April 22, according to data compiled by Bloomberg.


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