GulfBase Live Support
29/04/2013 10:56 AST
The MSM30 Index closed at 6179.53 points, down by 0.37 per cent. Gulf Investment Services was the most active in terms of volume as well as turnover. Oman & Emirates was the top gainer for the day to close up by 5.33 per cent, while Oman United Insurance was the top loser for the day and closed down by 3.75 per cent.
A total number of 2,035 trades were executed in yesterday's trading session generating turnover of OMR8.77 million with over 36 million shares traded. Out of 54 traded stocks, 14 advanced, 24 declined and 16 remained unchanged. GCC and Arab investors switched to net buyers for OMR613,000 followed by foreign investors for OMR466,000 while Omani investors were net sellers for OMR1.079 million worth of shares. Financial Sector Index was down by 0.54 per cent and closed at 7589.39 points.
Oman & Emirates, Gulf Investment Services, Transgulf Holding, Taageer Finance and Ominvest increased by 5.33 per cent, 2.76 per cent, 1.35 per cent, 1.31 per cent and 0.99 per cent, respectively. Oman United Insurance, DBIH, ONIC Holding, DIDIC and Al Izz Islamic Bank declined by 3.75 per cent, 3.13 per cent, 2.17 per cent, 2.11 per cent and 1.85 per cent, respectively. The Industrial Sector Index closed at 8745.02 points, marginally up by 0.02 per cent. National Aluminium Products, Oman Cement and Jazeera Steel Product increased by 0.88 per cent, 0.88 per cent and 0.33 per cent, respectively. Construction Material Industries, Voltamp Energy, Al Hassan Engineering, Oman Fisheries and Oman Textile Holding declined by 2.86 per cent, 1.01 per cent, 1 per cent, 0.86 per cent and 0.65 per cent, respectively.
Services Sector Index was down by 0.34 per cent and closed at 3173.69 points. Port Service Corp, Oman Oil Marketing, Shell Oman Marketing and Muscat Gases increased by 0.80 per cent, 0.52 per cent, 0.18 per cent and 0.12 per cent, respectively. Construction Material Industries, Voltamp Energy, Al Hassan Engineering, Oman Fisheries and Oman Textile Holding declined by 2.86 per cent, 1.01 per cent, 1 per cent, 0.86 per cent and 0.65 per cent, respectively.
Dubai shares rise
Dubai shares climbed to the highest in more than three years on bets economic growth in the emirate will accelerate, pushing its credit risk lower.
Dubai Islamic Bank, the emirate's biggest bank complying with Muslim banking rules, surged to the highest in more than three years. Emaar Properties, the developer set to report results this week, rose to the strongest level since March. Drake & Scull International soared the most in since December 2009. The Dubai Financial Market General Index gained 1.6 per cent to 2,108.63, the highest since November 2009.
Dubai, the second-biggest emirate in the United Arab Emirates, is recovering from a property crash and a debt crisis helped by a rebound in the tourism, trade and retail industries. The economy is set to expand 4.6 per cent, on average, between 2012 and 2015, more than twice the average growth in the prior four years, government forecasts show.
"This is an extension of the early economic upswing," Talal Touqan, head of research at Al Ramz Securities, said by e-mail.
Abu Dhabi's ADX General Index fell 0.3 per cent and Saudi Arabia's Tadawul All Share Index slipped 0.1 per cent. Bahrain's measure lost 0.2 per cent and Kuwait Stock Exchange Index jumped one per cent. Qatar's QE Index gained 0.5 per cent and Egypt's benchmark index rose 0.1 per cent.
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