29/01/2014 10:43 AST
MSM30 Index reversed its initial gains to end lower and closed at 7,148.21 points, down by 0.12 per cent. MSM Sharia Index closed at 1,125.79 points, down by 0.22 per cent. Gulf Investment Services was the most active in terms of volume as well as turnover. Areej Vegetable Oil remained as the top gainer and closed up by 10.00 per cent while Oman Chromite was the top loser and closed down by 6.67 per cent.
A total number of 3,048 trades were executed in yesterday's trading session generating turnover of OMR20.16 million with over 67.94 million shares traded. Out of 64 traded stocks, 21 advanced, 23 declined and 20 were unchanged.
Omani investors were net buyers for OMR159,000 followed by GCC & Arab investors for OMR30,000 while foreign investors switched to net sellers for OMR189,000 worth of shares.
Financial Sector Index up by 0.42 per cent at 8,633.65 points. Oman United Insurance, Al Sharqiya Investment, Global Financial Investment, Gulf Investment Services and Oman & Emirates Holding increased by 6.14 per cent, 4.17 per cent, 4.14 per cent, 3.02 per cent and 1.77 per cent respectively.
Financial Corp, Al Batinah Development, Ahli Bank and National Securities declined by 2.88 per cent, 2.15 per cent, 1.01 per cent and 0.92 per cent respectively.
The Industrial Sector Index up by 0.34 per cent at 11,059.60 points. Areej Vegetable Oil, Dhofar Cattlefeed, Jazeera Steel Product, Salalah Mills and Construction Material Industries increased by 10.00 per cent, 8.64 per cent, 2.09 per cent, 1.97 per cent and 1.41 per cent respectively. Oman Chromite, Oman Textile Holding, Oman Fisheries, Galfar Engineering and Oman Cement declined by 6.67 per cent, 3.45 per cent, 1.89 per cent, 1.38 per cent and 0.47 per cent respectively.
Services Sector Index down by 0.31 per cent and closed at 3,767.42 points. National Gas and SembCorp Salalah increased by 9.67 per cent and 0.25 per cent respectively. Oman National Engineering, Oman Telecom, Renaissance Services, OIFC and Port Services Corp declined by 1.69 per cent, 1.27 per cent, 0.99 per cent, 0.69 per cent and 0.69 per cent respectively.
Emaar shares jump
Emaar Properties, the developer of the world's tallest skyscraper, jumped the most in more than four months after EFG-Hermes Holding raised the stock to buy from neutral and boosted its price estimate by 68 per cent.
The company with the heaviest weighting on Dubai's benchmark surged 6.3 per cent, the most since September 10, to Dh8.24 at the close in the emirate. More than 36 million shares changed hands, almost twice the three-month average volume.
The DFM General Index added 3.2 per cent, making it the best performer among 94 global equity gauges tracked by Bloomberg.
The emirate's index more than doubled last year as MSCI promoted the UAE to emerging-market status. Dubai's property companies are benefiting from an economic recovery and a rebound in construction as the Gulf business hub prepares to host the World Expo in 2020, with about $8 billion in infrastructure spending planned.
Times of Oman
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