Muscat: The MSM30 Index ended on a positive note and closed at 5829.32 points, up by 0.32 per cent. Bank Sohar was the most active in terms of volume, while Bank Muscat was the most active in terms of turnover. Shell Oman Marketing was the top gainer for the day and closed up by 2.19 per cent, while Construction Material Industries was the top loser for the day and closed down by 1.79 per cent.
A total number of 1366 trades were executed in yesterday's trading session generating turnover of OMR5.38 million with over 20.48 million shares traded. Out of 46 traded stocks, 14 advanced, 11 declined and 21 remained unchanged. Foreign investors were net buyers for OMR667,000 followed by GCC and Arab investors for OMR304,000 while Omani investors were net sellers for OMR971,000 worth of shares.
Financial Sector Index closed at 6821.26 points, increased by 0.59 per cent. National Bank of Oman , Al Anwar Holding, Ominvest, Bank Sohar and Ahli Bank increased by 1.70 per cent, 1.40 per cent, 1.34 per cent, 1.15 per cent and 1.10 per cent, respectively. Gulf Investment Services, alizz islamic bank, Bank Nizwa and Oman United Insurance declined by 0.98 per cent, 0.89 per cent, 0.86 per cent and 0.47 per cent, respectively.
The Industrial Sector Index was marginally down by 0.03 per cent and closed at 7601.66 points. Dhofar Cattlefeed, Al Hassan Engineering, Voltamp Energy and Jazeera Steel Product increased by 2.13 per cent, 0.62 per cent, 0.56 per cent and 0.32 per cent, respectively. Construction Material Industries, Oman Refreshment, Oman Cables and Raysut Cement declined by 1.79 per cent, 0.09 per cent, 0.08 per cent and 0.07 per cent, respectively.
Services Sector Index closed at 2960.62 points, was up by 0.10 per cent. Shell Oman Marketing and Port Service Corp increased by 2.19 per cent and 0.93 per cent, respectively. Al Jazeira Services, Oman Telecommunications and Renaissance Services declined by 0.78 per cent, 0.76 per cent and 0.40 per cent, respectively.
Emerging stocks fall
Developing-nation stocks fell, led by the biggest tumble in Malaysian equities since September 2011, after the MSCI Emerging Markets Index approached the highest valuation in 20 months.
Axiata Group Bhd., Malaysia's biggest mobile-phone operator, had the steepest drop since March 2009 on concern the government will call an election that will weaken its grip on power. OAO Lukoil, Russia's second-largest crude producer, snapped a three-day advance as oil slid from a four-month high. Aldar Properties PJSC lost the most in more than three years in Abu Dhabi, while Dubai's Financial Market General Index fell from the highest level since April 2010.
The MSCI Emerging Markets Index slipped 0.3 per cent to 1,078.01 as of 12:35 p.m. in London. The gauge added 0.7 per cent last week and trades at 11 times estimated profit, within 1 per cent of the highest level since May 2011. European finance ministers meet in Brussels for the first time this year to discuss the debt crisis, while US markets are closed for a public holiday.
"Investors are taking advantage of the high prices and stretched valuations to pocket some gains and slowly rebalance their portfolio," Jonathan Ravelas, chief market strategist at BDO Unibank Inc., said by phone from Manila.