- Weather
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Max |
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40°C |
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Min |
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30°C |
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Sunrise |
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05 : 30 AM |
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Sunset |
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06 : 30 PM |
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Humidity |
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50 to 80 per cent |
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- Prayer Time
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Fajar |
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03:56 am |
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Dhuhr |
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12:09 pm |
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Asar |
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03:30 pm |
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Magrib |
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06:51 pm |
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Isha |
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08:11 pm |
- Oil Price
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- Gold Price
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Price in RO
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24ct / gm |
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17.37 |
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22ct / gm |
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17.00 |
- Currency Rates
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Forex Rates vs R01
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US Dollar |
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2.60 |
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Euro |
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2.01 |
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Pound |
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1.72 |
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Indian Rs. |
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144.42 |
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Pak Rs. |
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255.85 |
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Bangla Taka |
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201.35 |
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Muscat: The MSM30 Index ended on a positive note to close at 5812.61 points, up by 0.48 per cent. Gulf Investment Services was the most active in terms of volume as while Nawras was the most active in terms of turnover. United Power was the top gainer for the day and closed up by 9.67 per cent, while Oman Ceramic was the top loser for the day and closed down by 3.70 per cent.
A total number of 1,475 trades were executed in yesterday's trading session generating turnover of OMR5.39 million with over 21.38 million shares traded.
Out of 53 traded stocks, 27 advanced, 12 declined and 14 remained unchanged. Foreign investors were net buyers for OMR331,000 while Omani investors switched to net sellers for OMR178,000 followed by GCC and Arab investors for OMR153,000 worth of shares. Financial Sector Index was up by 0.95 per cent and closed at 6806.10 points.
Financial Services, DBIH, HSBC Bank Oman, United Finance and ONIC Holding increased by 6.90 per cent, 6.38 per cent, 4.71 per cent, 2.41 per cent and 1.66 per cent, respectively. Ahli Bank and Bank Muscat declined by 0.57 per cent and 0.33 per cent, respectively.
The Industrial Sector Index was down by 0.18 per cent and closed at 7639.15 points. Dhofar Cattlefeed, A'Saffa Foods, Al Anwar Ceramic and Oman Flour Mills increased by 5.15 per cent, 0.81 per cent, 0.75 per cent and 0.40 per cent, respectively. Oman Ceramic, Galfar Engineering, Voltamp Energy, Raysut Cement and Salalah Mills declined by 3.70 per cent, 1.70 per cent, 1.36 per cent, 0.69 per cent and0.68 per cent, respectively.
Services Sector Index closed at 2970.21 points, up by 0.25 per cent. United Power, Nawras, Renaissance Services, OIFC and Omantel increased by 9.67 per cent, 1.05 per cent, 1.01 per cent, 0.89 per cent and 0.49 per cent, respectively. Al Jazeira Services and Port Service Corp declined by 1.28 per cent and 0.18 per cent, respectively.
Drake & Scull may expand
Drake & Scull International, a Dubai-based company that raised $40 million from Goldman Sachs Group Inc. in November, plans an acquisition in Saudi Arabia and expansion in India and North Africa to help diversify revenue.
Drake & Scull will use cash raised from warrants issued to New York-based Goldman Sachs for a possible $25 million buyout in Saudi Arabia, Chief Executive Officer Khaldoun Tabari said in an interview yesterday. The company's Saudi venture won a 2.7 billion-riyal ($720 million) contract in December to build four hotel towers in Mecca and the acquisition "will help us in what we are doing right now with the contract wins," he said.
Goldman Sachs in November bought equity warrants representing about 8.5 per cent of the market value of Drake & Scull, whose shareholders include HSBC Private Bank. The company said the same month it obtained a $120 million loan, coordinated by Goldman Sachs, to help it expand into other markets.
Drake & Scull, a supplier of engineering services to the construction industry, sought contracts in Saudi Arabia, India and Romania after Dubai's construction market was pummeled by a property crash. Saudi is spending about $130 billion to add jobs.
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