Muscat shares up

10/10/2011 00:00 AST

The MSM30 Index increased 0.53 per cent to close at 5,564 points. The advance to decline ratio at the end of the trading session stood at 1.78:1.

The total shares exchanged increased by 77.2 per cent to 9.397 million shares and the total value traded increased by 42.5 per cent to RO2.749 million. The market breadth was increased with 16 gainers and nine losers out of 47 traded securities.

Amongst the sectors, Banking and Investment Sector increased 0.55 per cent to close at 6,266 points. The Services and Insurance Sector increased 0.42 per cent to close at 2,410 points. The Industrial Sector increased 0.43 per cent to close at 5,933 points.

The top two gainers were Al Batna Development (9.76 per cent) and Oman Textile Holding (9.38 per cent) to close at RO0.045 and RO0.408. The top two losers were Dhofar International Development and National Mineral Water.

by volume traded were Oman International Bank (4.503 million shares) and United Finance (1.059 million shares). The top two by value traded were Oman International Bank (RO1.283 million) and BankMuscat (RO0.321 million).

Other GCC bourses

Dubai shares rose to the highest in almost a week after oil rallied amid optimism European leaders will tame the region’s debt crisis and as US economic data improved.

Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai, climbed for a second day. Dubai Financial Market PJSC, the only Gulf Arab stock market to sell shares to the public, rose for the first time since September 21. The DFM General Index gained 0.2 per cent to 1,398.28, the highest since October 3, at the close in Dubai.

“United Arab Emirates equity markets are trading positively in line with the global markets last week,” said Sherif El Zeneiny, head of equity trading at National Bank of Abu Dhabi PJSC. Oil’s gain is also helping boost Gulf markets, he said.

Global stocks rose last week, with the STOXX Europe 600 Index rallying 2.6 per cent, after European Central Bank President Jean-Claude Trichet announced a bond-purchase program to tackle the debt crisis and European Commissioner Olli Rehn said there is an “increasingly shared view” that the region needs a coordinated approach. The Standard & Poor’s 500 jumped 2.1 per cent in the week as a report showed US manufacturing unexpectedly accelerated in September.

Times of Oman