02/01/2014 11:04 AST
Muscat Securities Market 30 Index closed with gains on the first trading session of the New Year 2014 and closed at 6872.38 points, up by 0.55 per cent. MSM Sharia Index also closed up by 0.33 per cent at 1103.29 points.
Gulf Investment Services was the most active in terms of volume, while ONIC Holding was the most active in terms of turnover. ONIC Holding was the top gainer and closed up by 6.53 per cent. Bank Dhofar, which was the top loser, declined by 0.55 per cent.
Altogether 2,380 trades were executed in yesterday's trading session generating turnover of OMR17 million with over 50.31 million shares traded. Out of 53 traded stocks, 40 advanced, three declined and 10 were unchanged. At the close of the session, Omani investors switched to net buyers to the tune of OMR813,000.
GCC& Arab investors bought shares worth OMR478,000 followed by foreign investors at OMR335,000.
Financial Sector up by 0.80 per cent at 8218.78 points. ONIC Holding, Al Madina Investment, Madina Takaful, Oman United Insurance and DBIH increased by 6.53 per cent, 4.62 per cent, 4.62 per cent, 4.262 per cent and 3.57 per cent respectively. Bank Dhofar was the only loser in the sector and was down by 0.55 per cent to close at 360 baisas.
The Industrial Sector Index up by 0.70 per cent at 10479.85 points. Gulf International Chemicals, Construction Materials, National Aluminium Products, Jazeera Steel Products and Voltamp Energy increased by 3.74 per cent, 2.86 per cent, 2.45 per cent, 2.37 per cent and 1.70 per cent respectively. ASaffa Foods was the only loser and was down by 0.44 per cent to close at OMR1.135.
Services Sector Index up by 0.43 per cent and closed at 3684.71 points. ACWA Power Barka, Al Jazeira Services, Renaissance Services, Port Services and SMN Power Holding increased by 2.50 per cent, 1.75 per cent, 1.09 per cent, 1.04 per cent and 0.92 per cent respectively. Oman Holding was the only loser and was down by 0.46 per cent to close at 432 baisas.
Emerging stocks rise
Emerging-market stocks rose as China's plans to restart initial public offerings boosted brokerage shares. Malaysia's ringgit gained the most among peers, while Turkey's lira weakened.
Citic Securities climbed 1.9 per cent in Hong Kong and 3.3 per cent in Shanghai to lead advances for brokerages as China approved share sales by five companies after a year-long initial public offering (IPO) freeze.
Dubai's DFM General Index, the world's best-performing gauge in 2013, rose to the highest level since October 2008. Turkey's shares resumed declines spurred by a corruption probe after rallying 6.4 per cent on Tuesday. Markets in Brazil, Russia, Hungary, the Czech Republic, Poland, Indonesia, Thailand and South Korea were shut.
The MSCI Emerging Markets Index rose 0.1 per cent to 1,002.69 in New York, trimming this year's loss to 5 per cent. Gauges of material and energy companies fell 19 per cent and 14 per cent respectively in 2013, the most among the 10 industry groups, as slowing Chinese economic growth cut demand for raw materials and the United States prepared to scale back stimulus. US data showed Wednesday that consumer confidence increased in December and housing prices jumped in October.
The emerging stocks measure is valued at 10.5 times projected earnings for the next 12 months, a 29 per cent discount to the MSCI World Index of developed nations.
Times of Oman
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