MSM index closes flat



Muscat: The MSM 30 Index ended on a flat note at 7139.12 points, marginally down by 0.02 per cent. MSM Sharia Index closed at 1130.10 points, up by 0.44 per cent.

Global Financial Investment was the most active in terms of volume, while Gulf Investment Services was the most active in terms of turnover.

Oman Refreshment was the top gainer and closed up by 7.69 per cent. National Detergent, which was the top loser, declined by 9.85 per cent.

Altogether 1,687 trades were executed in yesterday's trading session generating a turnover
of OMR9.34 million with over 33.05 million shares traded. Out of 58 traded stocks, 19 advanced, 11 declined and 28 were unchanged.

Omani investors were net buyers to the tune of OMR1.06 million followed by foreign investors at OMR335,000.  Arab and GCC investors sold shares amounting to OMR1.39 million.

Financial Sector Index up by 0.37 per cent at 8558.74 points. Financial Corporation, Taageer Finance, Al Madina Investment, Al Anwar Holding and United Finance increased by 4.69 per cent, 3.15 per cent, 2.13 per cent, 2.11 per cent and 1.27 per cent respectively. ONIC Holding, Al Sharqiya Investment and Gulf Investment Services  declined by 1.49 per cent,1.10 per cent and 0.44 per cent respectively.

 The Industrial Sector Index up by 0.74 per cent at 11027.02 points. Oman Refreshment, Al Anwar Ceramic, Oman Fisheries and Voltamp Energy increased by 7.69 per cent, 1.33 per cent,, 1 per cent and 0.39 per cent respectively. National Detergent, Oman Packaging, Gulf International Chemicals, Oman Cables and Al Hassan Engineering declined by 9.85 per cent, 4.17 per cent, 1.22 per cent, 1.02 per cent and 0.77 per cent respectively.

 Services Sector Index marginally down by 0.08 per cent and closed at 3759.80 points.  Oman Investment & Finance and Oman Education Training Institute increased by 1.78 per cent and 0.57 per cent respectively.

Oman Telecom and Nawras declined by 1.27 per cent and 0.66 per cent respectively.

Abu Dhabi shares up
Abu Dhabi's benchmark index, the world's fourth-best performing measure last year, rose to the highest in more than five years, as investors bet on strong bank earnings. Saudi Arabia's Tadawul Index fell.

The ADX General Index gained for a third day, advancing 0.9 per cent to 4,561.96, its highest close since August 2008.

United Arab Bank rose more than 8 per cent. First Gulf Bank, the United Arab Emirates' third-biggest lender, rose as much as 2.6 per cent on more than four times the three-month average daily volume.
Dubai's benchmark DFM General Index added 0.2 per cent.

Share prices in Abu Dhabi, which rose 63 per cent last year, have benefited from a recovery in the UAE's financial and property markets and beat all except three benchmarks.

The emirate's economy is expected to grow at an average 5.7 per cent a year through 2016, according to the emirate's economic development department. That compares with estimated global growth of 2.8 per cent this year, according to data.

"From earnings perspective you would expect banks to report good solid numbers going forward," Amer Khan, the senior executive officer at Dubai-based Shuaa Capital, said by phone from Dubai.

"Investors are slowly but surely willing to pay a premium for the banks, and this is what we are seeing in Abu Dhabi specifically."

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