09/04/2014 07:17 AST
The MSM30 Index closed with gains ending its nine days of consecutive losses at 6808.23, up by 0.70 per cent. MSM Sharia Index closed at 1079.06 points, up by 0.08 per cent. Oman & Emirates was the most active in terms of volume as well as turnover. Al Madina Investment was the top gainer and closed up by 6.19 per cent while National Gas was the top loser and closed down by 3.59 per cent.
A total number of 2066 trades were executed in yesterday's trading session generating turnover of OMR12.57 million with over 39.08 million shares traded. Out of 53 traded stocks, 33 advanced, six declined and 14 were unchanged. Foreign investors were net buyers for OMR1.27 million while GCC & Arab were net sellers for OMR787,000 followed by Omani investors for OMR484,000 worth of shares.
Financial Sector Index was up by 1.03 per cent to close at 8097.96 points. Al Madina Investment, Oman & Emirates Holding, DBIH, Ominvest and ONIC Holding increased by 6.20 per cent, 4.78 per cent, 3.09 per cent,2.72 per cent and 2.63 per cent respectively. HSBC Bank Oman and Financial Services declined by 0.69 per cent and 0.62 per cent respectively.
The Industrial Sector Index was up by 0.54 per cent at 10554.35 points. Oman Textile Holding, Gulf International Chemicals, National Aluminium Products, Al Hassan Engineering and Construction Material Industries increased by 2.30 per cent, 2.21 per cent, 1.85 per cent, 1.79 per cent and 1.67 per cent respectively.
Services Sector Index was up by 0.25 per cent and closed at 3644.35 points. OIFC, Renaissance Services, Port Services Corp, Nawras and Oman Telecom increased by 1.85 per cent, 1.18 per cent, 0.44 per cent, 0.34 per cent and 0.34 per cent respectively.
National Gas, Sohar Power and Shell Oman Marketing declined by 3.59 per cent, 0.54 per cent and 0.24 per cent respectively.
Limitless debt
Limitless, the Dubai-based developer, has asked creditors to defer the first instalment on its $1.2 billion restructured debt until the end of 2015, people familiar with the matter said.
The company has offered banks Dh200 million ($54 million) toward the $400 million amortisation due in December, said two people who asked not to be identified because the information is private.
Limitless, which was put under the management of state-controlled developer Nakheel in 2010, has requested postponement of payment for a year, one of the people said. A Limitless spokeswoman said in an e-mailed statement the discussions between the company and its lenders are private.
Limitless is one of several companies in Dubai that restructured debt after property prices slumped in the Gulf business hub and credit markets froze following the global financial crisis. The company is revising business plans and will approach lenders about the debt maturing in 2014, its chairman Ali Rashid Lootah on Monday said in London.
Times of Oman
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