MSM index gains again

by United Securities/Bloomberg News
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Muscat: The MSM30 continued its rally for the second day in a row and closed at 5836.61 points, up by 0.41 per cent. Bank Muscat was the most active in terms of volume as well as turnover. A'Saffa Foods was the top gainer for the day and closed up by 4 per cent, while United Power was the top loser for the day and closed down by 1.27 per cent.

A total number of 1,433 trades were executed in yesterday's trading session generating turnover of OMR5.17 million with over 19.95 million shares traded. Out of 56 traded stocks, 17 advanced, 13 declined and 26 remained unchanged.

Omani investors switched to net buyers for OMR633,000 followed by foreign investors for OMR50,000, while GCC & Arab investors were net sellers for 683,000 worth of shares.
Financial Sector Index was up by 0.77 per cent and closed at 6858.78 points.

HSBC Bank Oman, Financial Services, Al Omaniya Financial Services, Bank Dhofar and Ominvest increased by 3.37 per cent, 3.23 per cent, 2.85 per cent, 1.87 per cent and 1.6 per cent respectively. AlIzz Islamic Bank, Oman Orix Leasing, Oman United Insurance, National Bank of Oman and Bank Muscat declined by 0.89 per cent, 0.69 per cent, 0.47 per cent , 0.34 per cent and 0.16 per cent respectively.

The Industrial Sector Index was up by 0.14 per cent and closed at 7649.81 points. A'Saffa Foods, National Aluminium Products and Voltamp Energy increased by 4 per cent, 0.50 per cent and 0.28 per cent % respectively. Jazeera Steel Product, Oman Fisheries, Gulf International Chemicals, Galfar Engineering and Al Anwar Ceramics declined by 0.99 per cent, 0.94 per cent, 0.58 per cent, 0.29 per cent and 0.25 per cent respectively.

Services Sector Index closed at 2972.83 points, marginally up by 0.09 per cent. Nawras and Omantel increased by 1.04 per cent and 0.07 per cent respectively. United Power and Al Jazeira Services declined by 1.27 per cent and 0.52 per cent respectively. Nawras and Oman Telecom declined by 1.04 per cent and 0.07 per cent respectively.

Emerging stocks slide
Emerging-market stocks slid the most in a week, led by financial and energy companies, as China Petroleum & Chemical sank on a share-sale plan. The rand erased losses after South Africa's unemployment unexpectedly fell.

China Petroleum, or Sinopec, fell the most since August 2011 in Hong Kong after saying it will raise HK$24 billion ($3.1 billion) from a share sale. ICICI Bank, India's second-largest lender by assets, dropped to its lowest since January 24. MRSK Holding declined 1 per cent on a report Russia will maintain control over its stake in Federal Grid after its merger with MRSK.

The MSCI Emerging Markets Index lost 0.7 per cent to 1,065.71 in London, paring its gain this year to 1 percent. Euro-area retail sales fell 0.8 per cent in December, more than economists estimated, led by declines in Germany and Spain. The National Institute of Economic and Social Research said the UK economy faces risks of prolonged stagnation.

The rand strengthened 0.2 per cent versus the dollar after the unemployment rate retreated to 24.9 per cent in the fourth quarter, more than the 25.7 per cent median estimate of three economists surveyed.

The 21 nations in MSCI's developing-nations gauge send about 26 per cent of their exports to the European Union on average, data compiled by the World Trade Organisation show.


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