Muscat: The MSM30 Index closed at 7,355.94 points, down by 0.15 per cent. MSM Sharia Index closed at 1,070.31, down by 0.17 per cent. Bank Muscat was the most active in terms of volume as well as turnover. Al Madina Investment which gained 3.23 per cent was the top gainer while the top loser of the day was Omantel, down by 1.99 per cent.
A total number of 963 trades were executed on Monday's trading session generating turnover of OMR5.44 million with over 12.04 million shares traded.
Out of 51 traded stocks, 17 advanced, eight declined and 26 were unchanged. Omani investors were net sellers for OMR367,000 followed by GCC and Arab investors for OMR3,000 while foreign investors were net buyers for OMR370,000 worth of shares.
Financial Sector Index
Financial Sector Index closed with gains at 8,929.71 points, up by 0.37 per cent. Al Madina Investments, Oman & Emirates, Gulf Investment Services, Al Sharqia Investments and Ahli Bank increased by 3.23 per cent, 2.88 per cent, 2.03 per cent, 1.90 per cent and 1.30 per cent respectively. Bank Sohar and Bank Dhofar declined by 1.04 per cent and 0.79 per cent respectively.
The Industrial Sector Index closed marginally higher at 10,180.67, up by 0.04 per cent. Oman Fisheries, Voltamp Energy, Galfar Engineering and Gulf International Chemicals increased by 2.22 per cent, 1.49 per cent, 0.83 per cent, and 0.44 per cent respectively. Al Hassan Engineering, Al Anwar Ceramics and Al Jazeera Steel declined by 0.84 per cent, 0.70 per cent and 0.65 per cent.
Services Sector Index was up by 0.20 per cent to close at 3,773.60 points.
Sembcorp Salalah, Al Jazeera Services, SMN Power, Al Suwaidi Power and OIFC increased by 2.73 per cent, 2.38 per cent, 2.17 per cent, 0.56 per cent and 0.40 per cent respectively. Renaissance Services, Sohar Power and Omantel declined by 1.99 per cent, 1.05 per cent and 0.56 per cent respectively.
Emirates NBD bond sale
Emirates NBD, Dubai's biggest bank by assets, plans to sell benchmark-sized perpetual dollar bonds to boost capital, according a person with knowledge of the matter.
The lender hired Citigroup, Morgan Stanley, Standard Chartered, Deutsche Bank, Commerzbank and Emirates NBD Capital to manage the sale, the person said, asking not to be identified because the information isn't public.
Meetings with fixed-income investors will be held in the Middle East, Asia and Europe starting on September 4.
Emirates NBD joins banks in the six-nation Gulf Cooperation Council such as Kuwait's Burgan Bank and Abu Dhabi's Al Hilal Bank that have sold bonds this year in a bid to boost core capital and benefit from low interest rates.
Burgan may sell perpetual bonds after meeting with investors this month, a person with knowledge of the matter said last week, while Al Hilal raised $500 million from a perpetual bonds sale in June. A benchmark-sized debt is at least $500 million.
Emirates NBD, rated the third-lowest investment grade by Moody's Investors Service, reported in July a 35 per cent rise in second-quarter profit to Dh1.31 billion ($357 million), beating analysts' estimates.
Net income for the whole of 2014 may rise 19 per cent, according to the mean estimate of 10 analysts surveyed by Bloomberg.