Muscat: The MSM30 Index ended on a positive note to close at 5836.40 points, up by 0.38 per cent. Transgulf Investment Holding was the most active in terms of volume, while Bank Muscat was the most active in terms of turnover. Dhofar Insurance was the top gainer and closed up by 10 per cent, while National Bank of Oman was the top loser and closed down by 1.32 per cent.
A total number of 1512 trades were executed in yesterday's trading session generating turnover of OMR5.71 million with over 27 million shares traded. Out of 52 traded stocks, 19 advanced, 9 declined and 24 remained unchanged.
At the session close, GCC & Arab investors were net buyers for OMR395,000 followed by foreign investors for OMR378,000 while Omani investors were net sellers for OMR773,000 worth of shares.
Financial Sector Index closed at 6803.14 points, up by 0.55 per cent. Dhofar Insurance, Transgulf Holding, United Finance, Global Financial Investment and Bank Muscat increased by 10 per cent, 5.62 per cent, 3.25 per cent, 1.94 per cent and 1.49 per cent respectively.
National Bank of Oman, Taageer Finance, Bank Sohar, Ahli Bank and Oman United Insurance declined by 1.33 per cent, 0.61 per cent, 0.57 per cent, 0.56 per cent and 0.47 per cent respectively.
The Industrial Sector Index was up by 0.71 per cent and closed at 7701.93 points. Oman Refreshment, Construction Material Industries, National Aluminium Products, Oman Cables and Salalah Mills increased by 6.98 per cent, 1.85 per cent, 1.52 per cent, 0.37 per cent and 0.19 per cent respectively. Dhofar Cattlefeed and Oman Cement declined by 0.86 per cent and 0.31 per cent respectively. Services Sector Index closed flat at 2958.24 points.
DBIH, Al Jazeira Services, Bank Nizwa and Oman Telecom increased by 2.00 per cent,1.31 per cent, 0.89 per cent and 0.28 per cent respectively. OIFC and Nawras declined by 0.89 per cent and 0.43 per cent respectively.
Dubai stocks soar
Dubai stocks advanced the most in the world as a real estate recovery in the sheikhdom spurred bets companies including Emaar Properties will post stronger full-year earnings and dividends.
Emaar, developer of the world's tallest tower, surged to the highest level since October 2009. Emirates NBD, the biggest United Arab Emirates bank by assets, soared 8.6 per cent on volume of more than six times the three-month daily average. The benchmark DFM General Index jumped 1.8 percent to 1,853.17, the strongest since April 2010, at the close in Dubai.
The gain was the biggest among 94 global indexes. Dubai's property industry recovered last year after a crash sent prices plunging 65 percent from mid-2008 peaks. Emaar, which has the heaviest weighting on Dubai's measure, rose 7.4 per cent since saying January 27 that a luxury hotel project in central Dubai sold out all units available in the first offering.
The developer's 2012 profit probably rose 16 percent, the average estimate of 11 analysts shows. "Long-term investors have returned to the market amid strong economic and earnings fundamentals, particularly for bigger companies such as Emaar and Emirates NBD," said Dubai- based Waleed Al Khateeb, senior finance manager at Daman Securities. "Sentiment for the real estate sector is strong and investors expect the recovery to continue this year as new projects are announced."