MSM index ends flat



Muscat: The MSM30 index ended on a flat note to close at 5643.46 points, marginally down by 0.07 per cent. alizz islamic bank remains to be the most active in terms of volume as well as turnover. Onic Holding was the top gainer for the day and closed up by 8.44 per cent, while Bank Nizwa was the top loser for the day and closed down by 1.87 per cent.

A total number of 1,389 trades were executed in yesterday's trading session generating turnover of RO3.95 million with over 20.36 million shares traded. Out of 48 traded stocks, 18 advanced, 15 declined and 15 remained unchanged. GCC and Arab investors were net buyers for RO345,000 while Omani investors were net sellers for RO227,000 followed by foreign investors for RO118,000 worth of shares.

Financial Sector Index closed at 6334.80 points, marginally down by 0.05 per cent. Financial Services, Taageer Finance, Global Financial Investment and Al Sharqia Investment increased by 6.15 per cent, 5.71 per cent, 1.21 per cent and 0.99 per cent, respectively. Bank Nizwa, Oman United Insurance, HSBC Bank Oman, Al Anwar Holding and Ominvest declined by 1.87 per cent, 1.04 per cent, 0.94 per cent, 0.78 per cent and 0.55 per cent, respectively.

The Industrial Sector Index was down by 0.17 per cent and closed at 7337.53 points. Dhofar Cattlefeed, National Aluminum Products, Al Hassan Engineering, Oman Cables and ASaffa Foods increased by 4.52 per cent, 1.52 per cent, 1.23 per cent, 0.49 per cent and 0.39 per cent, respectively. Gulf International Chemicals, Galfar Engineering, Oman Fisheries, Voltamp Energy and Raysut Cement declined by 1.74 per cent, 1.07 per cent, 0.97 per cent, 0.76 per cent and 0.64 per cent, respectively.

Services Sector Index closed at 2842.10 points, up by 0.22 per cent. Oman Holding, Salalah Port Services, Al Kamel Power, OIFC and Oman Telecommunications Company increased by 8.44 per cent, 2.88 per cent, 1.38 per cent, 1.07 per cent and 0.34 per cent, respectively. Port Service Corp was the only loser and was down by 1.70 per cent to close at 0.521.

UAE's du, Etisalat
The United Arab Emirates raised royalty fees payable by du and rejigged payment by Etisalat as the ministry of finance set rates on the use of federal facilities by the country's phone operators.

du, also known as Emirates Integrated Telecommunications Co., will be required to pay 17.5 per cent of profit and 5 per cent of revenue in royalties this year, according to a statement posted on Dubai's stock market website. That compares with 15 per cent of profit and 5 per cent of revenue in 2011, according to du's financial statement.

du had provided an estimated charge of 50 per cent of profit as royalty for 2012. Payments by Etisalat will be split into 35 per cent of profit and 15 per cent of revenue from this year through the end of 2015, according to a statement on the Abu Dhabi stock exchange.

du broke the monopoly of Etisalat, which has the biggest weighting on the Abu Dhabi stock exchange, when it started operations in 2007 and the company estimates its mobile-phone market share at 47 per cent. du shares, listed in Dubai, have returned 34 per cent this year compared with a 9 per cent increase for Etisalat.
(United Securities/Bloomberg News)

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