01/07/2013 11:22 AST
MSM30 index ended on a flat note amid successful debut of Sharqiyah Desalination initial public offering (IPO) and closed at 6338.35 points, marginally up by 0.07 per cent. Gulf Investment Services was the most active in terms of volume while Sharqiyah Desalination was the most active in terms of turnover.
Sharqiyah Desalination was the top gainer for the day to close up by 202.54 per cent on the first day of trading while Dhofar Cattlefeed was the top loser for the day and closed down by 3.70 per cent. A total number of 4492 trades were executed in yesterday's trading session generating turnover of OMR9.53 million with over 24.95 million shares traded. Out of 49 traded stocks, 10 advanced, 21 declined and 18remained unchanged. At the session close, Omani investors were net buyers for OMR720,000 while foreign investors were net sellers for OMR702,000 followed by GCC & Arab investors for OMR18,000 worth of shares.
Financial Sector Index was up by 0.46 per cent and closed at 7728.43 points. Ominvest, Al Izz Islamic Bank, Taageer Finance, Ahli Bank, Al Anwar Holding and DIDIC increased by 6.18 per cent, 0.95 per cent, 0.67 per cent, 0.51 per cent, 0.49 per cent and 0.40 per cent respectively. DBIH, Oman & Emirates, Al Sharqia Investment, Transgulf Holding, Dhofar Insurance and Global Financial Investment declined by 2.73 per cent, 2.17 per cent, 2.11 per cent, 1.94 per cent, 1.48 per cent and 1.37 per cent respectively.
The Industrial Sector Index closed at 9198.80 points, down by 0.20 per cent. Al Hassan Engineering was the only gainer in the sector and was up by 0.48 per cent to close at OMR0.208. Dhofar Cattlefeed, Construction Material Industries, Oman Cement, National Aluminium Product and Galfar Engineering declined by 3.70 per cent, 1.30 per cent, 1.10 per cent, 0.98 per cent and 0.28 per cent respectively.
Services Sector Index was up by 0.16 per cent and closed at 3307.46 points. Sharqiyah Desalination and ACWA Power Barka increased by 202.54 per cent and 5.71 per cent respectively. Al Jazeira Services, OIFC, Oman Telecom and Muscat Gas declined by 1.11 per cent, 0.75 per cent, 0.13 per cent and 0.12 per cent respectively.
Kuwait's slump
In the Gulf Cooperation Council, Kuwait's SE Price Index tumbled 1.8 per cent, the most since June 2, trimming gains for the quarter to 16 per cent. The measure was the fourth-best performer in the past three months among more than 90 benchmarks tracked globally by Bloomberg.
"Many found the price levels to be opportune for some profit taking," said Fouad Darwish, head of brokerage at Kuwait-based Global Investment House. Summer vacations as well as Ramadan are approaching and political instability has also led to a reduction in the number of transactions and trading values, he said.
The value of shares traded declined to KD30 million ($106 million) compared with a daily average of about KD42.8 million in the past year.
Shares triple
Abu Dhabi's benchmark index advanced 0.3 per cent yesterday, pushing the surge for the year to 35 per cent, the third-best performer in the period after gauges in Ghana and Dubai. Dubai's DFM General Index closed little changed at 2,222.57. Saudi Arabia's Tadawul Index lost 0.2 per cent, Qatar's QE Index dropped 0.3 per cent and Bahrain's measure declined less than 0.1 per cent.
Times of Oman
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