04/03/2014 08:00 AST
MSM30 Index slipped by 0.34 per cent to close at 7,097.19 points. MSM Sharia Index closed at 1,131.50 points, marginally down by 0.04 per cent. Oman & Emirates was the most active in terms of volume as well as turnover. DBIH was the top gainer and closed up by 3.23 per cent while Oman & Emirates was the top loser and closed down by 6.96 per cent.
A total number of 1,824 trades were executed in yesterday's trading session generating turnover of OMR10.99 million with over 30.58 million shares traded. Out of 60 traded stocks, six advanced, 28 declined and 26 were unchanged. Omani investors were net buyers for OMR714,000 while GCC and Arab investors were net sellers for OMR649,000 followed by foreign investors for OMR65,000 worth of shares.
Financial Sector Index was down by 0.78 per cent at 8,338.96 points. DBIH and BankDhofar increased by 3.23 per cent and 0.55 per cent respectively. Oman & Emirates, Dhofar Insurance, Al Sharqiya Investment, Gulf Investment Services and Global Financial Investment declined by 6.96 per cent, 5.46 per cent, 4.11 per cent, 3.27 per cent and 2.96 per cent respectively.
The Industrial Sector Index was up by 0.13 per cent at 10,899.22 points. Jazeera Steel Products, Oman Cables and Gulf Mushroom Products increased by 2.50 per cent, 1.22 per cent and 0.98 per cent respectively. Gulf International Chemicals, Majan Glass, National Aluminium Products, Al Hassan Engineering and Oman Fisheries declined by 4.07 per cent, 3.51 per cent, 2.17 per cent, 2.13 per cent and 1.84 per cent respectively.
Services Sector Index was down by 0.18 per cent and closed at 3,797.46 points. Al Maha Marketing was the only gainer and was up by 1.03 per cent to close at OMR0.235. National Gas, Renaissance Services, OIFC and Sembcorp Salalah declined by 2.67 per cent, 1.58 per cent, 1.43 per cent and 0.50 per cent respectively.
GCC markets end lower
Dubai's benchmark led a retreat among Gulf stock indexes, tracking a decline in emerging markets after Russia's intervention in Crimea raised concerns of armed conflict.
The DFM General Index slipped 1.9 per cent, the most since January 26, to 4,105.90 at the close in Dubai.
The measure, which more than doubled last year, dropped on 44 per cent of three-month average daily volume. Abu Dhabi's gauge closed 1.8 per cent lower while Kuwait's and Qatar's slipped 1.9 per cent and 0.9 per cent respectively. Saudi Arabia's Tadawul All Share Index traded 0.9 per cent lower at 2:30pm in Riyadh.
The decline in stocks across the Gulf "is a trickle-down effect from the drop in international markets," Tariq Qaqish, a director at Dubai-based Al Mal Capital, said.
Markets have been rising and are prone to declines on negative international headlines and will likely stage a turnaround if there is no military action in Ukraine, he said.
Times of Oman
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