Muscat: MSM Index continued its slide and closed at 6793.43 points, down by 0.12 per cent, whereas MSM Shariah Index rose by 0.6 per cent, at 1089.89 points. Gulf Investment Services was the most active in terms of volume as well as turnover. Sohar power was the top gainer and closed up by 3.19 per cent. Galfar Engineering, which declined by 2.50 per cent, was the top loser.
Altogether 1,053 trades were executed in today's session generating a turnover of OMR5.95 million with over 17.03 million shares traded. Out of 57 traded stocks, 8 advanced, 28 declined and 21 were unchanged. Foreign investors switched to net buyers to the tune of OMR625,000, while Omani investors were net sellers and sold share worth OMR399,000 followed by GCC& Arab investors at OMR226,000.
Financial Sector Index down by 0.28 per cent at 8146.57 points. HSBC Bank Oman and Gulf Investment Services increased by 0.58 per cent and 0.51 per cent respectively. DBIH, Oman & Emirates, Al Madina Investment, Global Finance and National Finance declined by 2.35 per cent, 2.13 per cent, 2.11 per cent, 1.92 per cent and 1.84 per cent respectively.
The Industrial Sector Index was down by 0.43 per cent at 10316.11 points. Fajar Alamia and Dhofar Cattlefeed increased by 2.75 per cent and 0.79 per cent respectively. Galfar Engg, Oman Flour Mills, Jazeera Steel Product, Oman Fisheries and Voltamp Energy declined by 2.50 per cent, 1.92 per cent, 1.20 per cent, 1 per cent and 0.84 per cent respectively.
Services Sector Index was up by 0.10 per cent and closed at 3641.79 points. Sohar Power, Port Services Corporation, Nawras and Oman Telecom increased by 3.19 per cent, 1.15 per cent, 1.03 per cent and 0.67 per cent respectively. ACWA Power Barka, Al Jazeira Services, OIFC, Renaissance Services and Sembcorp declined by 1.84 per cent, 1.43 per cent, 1.06 per cent, 0.55 per cent and 0.53 per cent respectively.
Emerging stocks gain
Emerging-market stocks rose after the United States economy grew faster than anticipated and the International Monetary Fund said it's lifting the nation's outlook. Ukraine's bonds gained to the highest level since June.
South Korean shipping company Hyundai Merchant Marine surged the most on the gauge in percentage terms. The yuan appreciated to its strongest level in 20 years. PannErgy jumped 6.7 per cent as a unit signed a deal to supply energy to Audi's Hungarian subsidiary. Russia's finance minister said Ukraine may get funds from a $3 billion bond sale today, pushing the nation's benchmark yields down.
The MSCI Emerging Markets Index added 0.4 percent to 991.79 in London, the most since December 9 on a closing basis. The measure lost 0.2 per cent last week, its third straight slide. US economic growth in the three months through September increased faster than previously estimated. International Monetary Fund managing director Christine Lagarde said a budget deal in Washington and the Federal Reserve's plan to taper its bond buying ease doubts about the future.
"There is a general Christmas rally," Kirill Yankovskiy, director for equity sales at UralSib Securities in London, said by e-mail. "In EM, some mark up on year is still happening, as cash on year-end is being positioned."
All 10 industry groups in the MSCI Emerging Markets Index rose. The developing-nation gauge has lost 6 per cent this year and trades at 10.4 times projected 12-month earnings, while MSCI World Index has surged 22 per cent and is valued at a multiple of 14.6. Hyundai Merchant also surged.