16/04/2013 10:43 AST
The MSM 30 Index closed at 6281.13 points, up by 0.29 per cent. Galfar Engineering was the most active in terms of volume as well as turnover. Galfar Engineering was the top gainer of the day to close up by 3.65 per cent, while National Aluminium Product was the top loser of the day and closed down by 3.56 per cent.
A total number of 1,987 trades were executed in yesterday's trading session generating turnover of OMR10.36 million with over 32.30 million shares traded. Out of 62 traded stocks, 18 advanced, 19 declined and 25 remained unchanged. Omani investors were net buyers for OMR1.41 million followed by GCC and Arab investors for OMR3,000 while foreign investors were net sellers for OMR1.40 million worth of shares.
Financial Sector Index was up by 0.10 per cent and closed at 7837.35 points. Oman Orix Leasing, HSBC Bank Oman, Oman United Insurance, Bank Sohar and United Finance increased by 3.45 per cent, 1.97 per cent, 1.18 per cent, 1.02 per cent and 0.61 per cent, respectively.
ONIC Holding, Transgulf Holding, National Finance, Oman & Emirates and Global Financial Investment declined by 2.28 per cent, 2 per cent, 1.96 per cent, 1.34 per cent and 0.86 per cent, respectively.
The Industrial Sector Index closed at 8656.28 points, up by 0.27 per cent. Galfar Engineering, Oman Textile Holding, Salalah Mills, Oman Cement and Raysut Cement increased by 3.66 per cent, 1.91 per cent, 0.94 per cent, 0.90 per cent and 0.44 per cent, respectively. National Aluminum Products, Dhofar Cattlefeed, Construction Materials, Al Anwar Ceramics and Gulf International Chemicals declined by 3.56 per cent, 3.08 per cent, 2.78 per cent, 1.16 per cent and 1.15 per cent, respectively.
Services Sector Index was up by 0.18 per cent and closed at 3213.90 points. Al Maha Marketing, OIFC, Oman Telecom and ACWA Power Barka increased by 1.39 per cent, 0.70 per cent, 0.35 per cent and 0.18 per cent, respectively. Oman National Engineering, Al Jazeira Services and SMN Power Holding declined by 2.27 per cent, 0.22 per cent and 0.06 per cent, respectively.
Dubai Islamic drops
Dubai Islamic Bank PJSC dropped the most in a month on bets a rally in the lender's shares in April, spurred by profit expectations, was overdone.
Shares of the United Arab Emirates' biggest Shariah-compliant bank declined 3.9 per cent, set for the largest decrease since March 13, to 2.47 dirhams at 12:38 p.m. in Dubai.
The stock had rallied 27 per cent this month through Sunday, before Dubai Islamic reported after markets closed that first-quarter profit jumped 17 per cent, beating analysts' estimates. The benchmark DFM General Index fell 0.6 per cent.
"DIB has had an excellent run and was overcooked," Julian Bruce, Dubai-based head of institutional trading at EFG-Hermes Holding SAE, said by e-mail. "Broader market weakness is encouraging investors to take profits irrespective of results."
European and Asian stocks retreated after Chinese economic growth and industrial production expanded less than economists' estimates. GCC bourses, except Oman, declined yesterday.
Times of Oman
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