MSM falls marginally

by United Seurities/Bloomberg News
Share 

Muscat: The MSM30 index declined by 0.10 per cent and closed at 5814.08 points. Bank Nizwa was the most active in terms of volume, while Nawras was the most active in terms of turnover. Oman Packaging was the top gainer for the day and closed up by 9.82 per cent, while Ahli Bank was the top loser for the day and closed down by 2.72 per cent. \

A total number of 644 trades were executed in today's trading session generating turnover of OMR3.95 million with over 17.2 million shares traded. Out of 51 traded stocks, 13 advanced, 18 declined and 20 remained unchanged. At the session close, foreign investors were net buyers for RO473,000 followed by GCC & Arab investors for RO56,000, while Omani investors were net sellers for OMR529,000 worth of shares.

Financial Sector Index closed at 6765.83 points, down by 0.72 per cent .Global Financial Investment, Al Izz Bank, Taageer Finance, Bank Muscat and United Finance increased by 0.98 per cent, 0.91 per cent, 0.61 per cent, 0.50 per cent and 0.47 per cent respectively. Ahli Bank, Bank Dhofar, Transgulf Holding, Ominvest and HSBC Bank Oman declined by 2.72 per cent, 1.35 per cent, 1.11 per cent, 1.06 per cent and 1.05 per cent respectively.

The Industrial Sector Index was up by 0.09 per cent and closed at 7647.34 points. Oman Packaging, Oman Fisheries, Galfar Engineering, National Aluminium Products and Jazeera Steel Products increased by 9.82 per cent, 1.92 per cent, 0.81 per cent, 0.51 per cent and 0.32 per cent respectively. Dhofar Cattlefeed, Oman Cement, Voltamp Energy and Al Anwar Ceramic declined by 1.70 per cent, 0.78 per cent, 0.28 per cent and 0.25 per cent respectively.

Services Sector Index closed at 2958.22 points, marginally up by 0.22 per cent. Nawras, Renaissance Services and Oman Telecom increased by 2.40 per cent, 1.63 per cent and 0.63 per cent respectively. Port Services Corporation, Sohar Power and OIFC declined by 1.84 per cent, 1.04 per cent and 0.44 per cent respectively.

Emirates NBD rises
Emirates NBD rallied to the highest level in more than a year on bets the biggest United Arab Emirates lender by assets may announce a higher dividend once it reports fourth-quarter results this week.

The shares rallied 6.1 per cent to Dh3.50 at the close in Dubai, the strongest level since October 2011. About 3.2 million shares were traded today, more than six times the three- month daily average, according to data. The stock was the biggest gainer on the benchmark DFM General Index, which increased 0.1 per cent.

Emirates NBD's fourth-quarter profit may more than double to Dh517 million ($141 million), according to the average estimate of six analysts. The lender, which paid a cash dividend of 20 fils per share last year, has a 12-month dividend yield of 5.7 per cent. That compares to 3.1 per cent for the Bloomberg GCC 200 Financial Index. The bank is due to report results Jan. 30, according to a statement to the Dubai bourse.

"Investors are shifting focus toward stocks that pay dividends and have attractive dividend yields," Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities, said by e-mail yesterday.

Emirates NBD's Dubai-based Islamic banking unit, Emirates Islamic Bank, is seeking to double net income in 2013.


 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 ImageText here:  

No Comments Posted
Label


s