Muscat: The MSM30 Index ended on a positive note to close at 5869.03 points, up by 0.22 per cent. Transgulf Investment Holding was the most active in terms of volume while Bank Muscat was the most active in terms of turnover. Transgulf Holding stood as the top gainer for the day and closed up by 4.08 per cent, while National Securities was the top loser for the day and closed down by 9.84 per cent.
A total number of 1606 trades were executed in yesterday's trading session generating turnover of OMR6.23 million with over 22.31 million shares traded. Out of 55 traded stocks, 18 advanced, 20 declined and 17 remained unchanged. Foreign investors were buyers with OMR956,000 worth of shares, while Omani investors switched to net sellers for OMR931,000 followed by GCC and Arabs for OMR25,000.
Financial Sector Index was up by 0.37 per cent and closed at 6963.95 points.
Transgulf Holding, Financial Services, National Finance, Bank Muscat and Bank Dhofar increased by 4.08 per cent, 3.13 per cent, 2.26 per cent, 1.48 per cent and 1.32 per cent, respectively. National Securities, Al Anwar Holding, ONIC Holding and Al Sharqia Investment declined by 9.84 per cent, 1.31 per cent, 0.96 per cent and 0.90 per cent, respectively.
The Industrial Sector Index closed at 7664.88 points, down by 0.19 per cent. Construction Material Industries, Dhofar Cattlefeed, Oman Cables and Voltamp Energy increased by 1.82 per cent, 1.25 per cent, 0.45 per cent and 0.27 per cent, respectively. Oman Flour Mills, National Aluminium Products, Al Hassan Engineering, Galfar Engineering and Al Anwar Ceramic declined by 1.39 per cent, 0.92 per cent, 0.60 per cent, 0.57 per cent and 0.25 per cent, respectively. Services Sector Index closed at 2964.77 points, down by 0.37 per cent. OIFC and SMN Power increased by 1.38 per cent and 0.13 per cent, respectively.
Oman Oil Marketing, Port Service Corporation, Sohar Power, Al Jazeera Services and ACWA Power Barka declined by 1.87 per cent, 1.27 per cent, 1.22 per cent, 1.04 per cent and 0.49 per cent, respectively.
Abraaj's divestment plan
Abraaj Capital, the Dubai-based buyout firm with over $7 billion of assets under management, plans to sell its majority stake in Middle Eastern supermarket chain Spinneys, according to a person familiar with the matter.
The fund will seek buyers starting next week after hiring a bank to manage the sale, the person said, asking not to be identified as talks are private. The firm also plans to sell a stake in a Tunisian pharmaceuticals company and in a unit of oil and gas service company Stanford Marine Group, the person said.
Spinneys was founded in Alexandria in 1924 and acquired by Abraaj in 2004. The retailer has outlets in Egypt, Lebanon and Qatar and operates in the United Arab Emirates under franchise. It generates more than $150 million in sales at its four locations in Egypt, according to the firm's 2011 annual review.
Foreign investors are targeting Egyptian assets after a popular uprising last year that toppled former President Hosni Mubarak. Qatar National Bank SAQ bought Societe Generale SA's 77.2 per cent stake in an Egyptian Unit for $1.97 billion. Savola said it's expanding its sugar refining operations in the North Africa.
Mitali Atal, an Abraaj spokesman, said the firm declined to comment on market speculation related to investments or exits. Calls to Spinneys regional office in Lebanon weren't immediately returned.
Abraaj has investments in two pharmaceutical companies in Tunisia, Opalia Pharma and Unimed, according the company's web site. Stanford Marine Group's units are Stanford Marine, Grandweld Shipyards and GMMOSTECH.