27/02/2013 11:01 AST
The upward momentum on select index mid-caps coupled with trend reversal signs from Bank Muscat led to a positive movement in MSM30 index by 0.45 per cent, to close at 5959.67 points.
Port Services was the most active in terms of turnover, while Gulf Investment Services in terms of volume.
Sohar Power remained the top gainer for the day and closed up by 9.96 per cent, while Dhofar Insurance was the top loser and closed down by 4.24 per cent.
A total number of 2,297 trades were executed in yesterday's session generating turnover of OMR12.38 million with over 45.43 million shares traded.
Out of 55 traded stocks, 35 advanced, 9 declined and 11 remained unchanged. Foreign investors were net buyers to the tune of OMR1.36 million while Omani investors switched to net sellers for shares worth OMR764,000 followed by GCC & Arab investors OMR603,000 worth of shares.
Financial Sector Index was up by 1.09 per cent and closed at 7052.04 points. Al Sharqia Investment Holding, Al Anwar Holding, Global Financial Investment, Financial Services and Gulf Investment Services and Bank Muscat increased by 5.88 per cent, 4.94 per cent, 4.90 per cent, 3.03 per cent, 2.91 per cent and 2.14 per cent respectively.
Dhofar Insurance, HSBC Bank Oman, Bank Dhofar and Muscat National Holding fell by 4.24 per cent,1.03 per cent, 0.52 per cent and 0.06 per cent respectively.
The Industrial Sector Index closed at 8091.34 points, up by 0.84 per cent. Dhofar Cattlefeed, Salalah Mills, Construction Materials, National Aluminium Products and Gulf International Chemicals increased by 8.18 per cent,7.36 per cent, 1.85 per cent, 1.76 per cent and 1.62 per cent respectively. Jazeera Steel Products, Galfar Engineering and Oman Cables declined by 0.33 per cent, 0.28 per cent and 0.27 per cent respectively.
Services Sector Index closed at 3091.18 points, up by 1.13 per cent. Sohar Power, Al Jazeira Services, Oman National Engineering, Port Service Corporation and OIFC increased by 9.96 per cent, 9.97 per cent, 2.20 per cent, 1.82 per cent and 0.76 per cent respectively. Majan College and Renaissance Services declined by 0.92 per cent and 0.84 per cent respectively.
Emerging stocks tumble
Emerging-market stocks sank to a two-month low, currencies weakened and borrowing costs rose as Italy's inconclusive election revived European debt concerns and investors speculated China will announce new property buying curbs.
OTP Bank, Hungary's biggest lender, headed for the biggest loss since October 18 as the benchmark BUX Index led declines among major emerging markets. Mosenergo, a Russian power company, dropped to a six-week low after Novosti reported Russian President Vladimir Putin ordered a cap on increases in household utility bills.
Evergrande Real Estate slid to the lowest level in three months in Hong Kong. Russia's ruble and the Indian rupee weakened at least 0.2 per cent per dollar, while Poland's zloty sank 0.4 per cent versus the euro.
Early results suggested Italy's election would lead to a hung parliament and another vote. The 21 countries in the developing-nations gauge send about 26 per cent to the European Union on average.
Bloomberg
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