MSM Index gains again



Muscat: The MSM 30 index continued its rally for the fourth session in a row and closed at 6985.23 points, up by 0.77 per cent. MSM Sharia Index also gained 0.32 per cent at 1113.12 points.

Gulf Investment Services was the most active in terms of volume as well as turnover. Gulf International Chemicals was the top gainer and closed up by 7.21 per cent, while Oman Education, which was the top loser, declined by 2.38 per cent.

Altogether 2,995 trades were executed in yesterday's session generating a turnover of OMR17.53 million with over 55.33 million shares traded. Out of 63 traded stocks, 37 advanced, 6 declined and 20 were unchanged. At the close of the session, Omani investors were net buyers to the tune of OMR985,000 worth of shares followed by foreign investors at OMR545,000. Arab and GCC investors sold shares amounting to OMR1.54 million.

Financial Sector Index up by 0.79% at 8342.93 points. Gulf Investment Services, United Finance, DBIH, Oman & Emirates and Taageer Finance increased by 3.79 per cent, 3.2 per cent, 2.27 per cent, 2.08 per cent and 1.92 per cent respectively. ONIC Holding was the only loser and was down by 0.38 per cent to close at 522 baisas.

The Industrial Sector Index up by 1.32 per cent at 10737.73 points. Gulf International Chemicals, Jazeera Steel Products, Oman Cables, Galfar Engineering and Salalah Mills increased by 7.21 per cent, 4.42 per cent, 3.78 per cent, 2.23 per cent and 2.06 per cent respectively. Voltamp Energy and Al Hassan Engineering declined by 0.79 per cent and 0.75 per cent respectively.

Services Sector Index up by 0.29 per cent and closed at 3711.66 points.  Sharqiyah Desalination, Al Jazeira Services, Sembcorp Salalah , OIFC and Renaissance Services  increased by 4.49 per cent, 2.05 per cent, 1.28 per cent, 1.11 per cent and 1.06 per cent respectively. Oman Education Training Institute, Port Services Corp and Oman Telecom declined by 2.38 per cent, 0.69 per cent and 0.32 per cent respectively.

Emerging stocks drop
Emerging stocks fell for a fifth day as China tightened lending controls and banks including Goldman Sachs recommended selling developing-nation assets. Polish shares slid, while Turkey's lira weakened.

The MSCI Emerging Markets Index lost 0.2 per cent to 970.57 in London, set for the lowest since September 6. China Life Insurance led the Hang Seng China Enterprises Index to the weakest in two months. Poland's shares tumbled the most in the world as they resumed trading after a holiday. Indonesia's rupiah and the lira lost at least 0.3 per cent, while Thailand's stock index jumped 2.6 per cent as tourism shares rallied.

China's cabinet imposed new controls on the multi-trillion- dollar shadow-banking industry, three people familiar with the matter said, on concern it could threaten financial stability as growth slows. Wall Street's biggest banks say the slump in emerging assets that left equities trailing advanced-country shares by the most since 1998 in 2013 will continue.

"The main issue impacting EM is China," Michael Wang, an emerging-markets strategist at Amiya Capital in London, said. "The expectations are that growth momentum will slow further."

The developing-nation index trades at 10.1 times projected earnings for the next 12 months after falling 3.2 per cent this year.

Share 

 Rate this Article
Rates : 0, Average : 0

Share more.

Post a Comment

Did you like this section? Leave a comment!
Your Name : Your Email Address :
Your Comment :
Enter Image Text:
No Comments Posted

Label


s