04/06/2013 09:51 AST
The MSM30 Index ended on a positive note to close at 6423.91 points, up by 0.23 per cent. Global Financial Investment was the most active in terms of volume, while Gulf Investment Services was the most active in terms of turnover.
Al Sharqiyah Investment was the top gainer of the day to close up by 6.38 per cent, while Port Service Corp was the top loser for the day and closed down by 1.23 per cent.
A total number of 3722 trades were executed in Monday's trading session generating turnover of OMR16.15 million with over 85.05 million shares traded. Out of 60 traded stocks, 32 advanced, 15 declined and 13 remained unchanged.
Omani investors were net buyers for OMR739,000 while foreign investors were net sellers for OMR659,000 followed by Omani investors for OMR80,000 worth of shares.
Financial Sector Index was up by 1.15 per cent and closed at 7786.45 points. Al Sharqiah Investment, Global Financial Investment, Transgulf Holding, Oman & Emirates and Al Anwar Holding increased by 6.38 per cent, 6.14 per cent, 5.49 per cent, 3.59 per cent and 3.49 per cent, respectively. Bank Muscat, HSBC Bank Oman and National Bank of Oman declined by 0.63 per cent, 0.50 per cent and 0.37 per cent, respectively.
The Industrial Sector Index closed at 9398.39 points, up by 0.38 per cent. National Aluminium Products, Al Hassan Engineering, Construction Material Industries, Gulf International Chemicals and Oman Fisheries increased by 3.35 per cent, 2.75 per cent, 2.63 per cent, 1.79 per cent and 0.89 per cent, respectively.
Oman Textile Holding, Majan Glass and Raysut Cement declined by 0.69 per cent, 0.31 per cent and 0.05 per cent, respectively. Services Sector Index was marginally up by 0.05 per cent and closed at 3330.01 points. ACWA Power Barka, Al Jazeira Services, Nawras and OIFC increased by 1.39 per cent, 0.64 per cent, 0.63 per cent and 0.55 per cent, respectively. Port Service Corporation Renaissance Services and Omantel declined by 1.24 per cent, 0.65 per cent and 0.07 per cent, respectively.
Emerging stocks fall
Emerging-market stocks fell for a fourth day led by Turkish companies after Istanbul protests spread nationwide and investors speculated the Federal Reserve will reduce monetary stimulus. The South African rand rebounded from its lowest level in four years.
Akbank, a Turkish bank part-owned by Citigroup, sank as much as 9.4 per cent, and the lira weakened after demonstrations against Recep Tayyip Erdogan's government turned violent over the weekend. Ayala Land tumbled 7.3 per cent in Manila, dragging the Philippine benchmark gauge to an eight-week low as rising bond yields spurred investors to sell the nation's equities. Mechel headed for the lowest level in four years, helping Russia's RTS Index slide as much as 2.1 per cent.
The MSCI Emerging Markets Index fell 0.8 per cent to 1,000.47 as of 1.48pm in London, after a 2.9 per cent slump in May.
The rand strengthened 1.1 per cent versus the dollar, recovering from its lowest level since March 2009. Employment gains and increases in housing and consumer confidence signalled the US economy is gaining momentum, prompting traders to increase bets the Fed may scale back its monthly debt purchases later this year.
"Investors are anticipating the scaling back of stimulus by the Fed which will reduce liquidity in markets," Soni Wibowo, a director at PT Bahana TCW Investment Management, which overseas the equivalent of $2.2 billion in assets, said in Jakarta. "The equity markets had quite a good run this year, so some investors see this as the time to take profits."
Benchmark indexes in Turkey and the Philippines have rallied at least 38 per cent in the past 12 months, among the beneficiaries of the Fed's quantitative easing programme that prompted investors to seek higher yielding assets.
Times of Oman
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