27/05/2015 00:36 AST
Supported by gains in services and industrial stocks, MSM30 Index ended with gains on Tuesday. The index closed at 6,390.32 points, gaining by 0.20 per cent. The MSM Sharia Index also gained 0.26 per cent and closed at 987.93 points. Oman & Emirates was the most active stock in terms of volume while Sharqiya Desalination stood as the highest value traded stock. Tuesday's top gainer, Oman Fisheries, was up by 1.89 per cent while National Mineral Water, which went down by 4.05 per cent was the top loser for the day in the trading session.
As many as 565 trades were executed during the day's trading session generating turnover of OMR2.85 million with more than 8.8 million shares changing hands. Out of 50 traded securities, 17 advanced, 10 declined and 23 remained unchanged. Omani investors were net buyers for OMR203,000 while Foreign investors were net sellers for OMR103,000 followed by GCC and Arab investors for OMR100,000 worth of shares.
Financial Index
Financial Index closed at 7,751.76 points, down by 0.03 per cent. United Finance, Al Madina Investment, Oman & Emirates Investments, Global Financial Investments, and ONIC Holding increased by 1.52 per cent, 1.30 per cent, 0.93 per cent, 0.90 per cent, and 0.88 per cent respectively. Al Anwar Holding, Sharqiya Investments, Gulf Investment Services, and HSBC Bank Oman declined by 0.83 per cent, 0.77 per cent, 0.74 per cent and 0.72 per cent respectively.
Industrial Index closed at 8,297.25 points, up by 0.23 per cent. Oman Fisheries, Oman Cement, Al Anwar Ceramic, Gulf international Chemicals, and Oman Cables increased by 1.89 per cent, 1.12 per cent, 0.95 per cent, 0.92 per cent, and 0.71 per cent respectively. National mineral Water, National Aluminium, Galfar Engineering, and Al Maha Ceramics declined by 4.05 per cent, 1.96 per cent, 0.81 per cent, and 0.76 per cent respectively.
Services Sector Index was up by 0.15 per cent before closing at 3,456.81 points. Sharqiya Desalination, Sembcorp Salalah, Al Batinah Power, Al Suwadi Power, and Sohar Power increased by 1.17 per cent, 1.04 per cent, 1.01 per cent, 1.01 per cent and 0.57 per cent respectively. OIFC and Al Jazeirah Services declined by 0.86 per cent and 0.55 per cent respectively.
Dubai firm's repayment
Creditors to Limitless are trying to arrange a meeting amid speculation the Dubai-based developer, which wants to change terms on $1.2 billion of debt, sold land in Saudi Arabia, five people familiar with the matter said.
Limitless may have sold land in the Al Wasl project in Riyadh, said the people, asking not to be identified because the matter is private. Lenders have asked Limitless for clarity on the possible deal and have yet to receive a response from the company, two of the people said. Creditors say proceeds from the possible sale should go toward settling loans owed to banks under the existing restructuring deal, three people said.
"If there are any developments, our stakeholders will be the first to know," Limitless spokeswoman Rebecca Rees said by e-mail, declining to comment further.
Times of Oman
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