03/02/2015 05:32 AST
MSM30 Index ended on a flat note at 6,573.67 points, marginally up by 0.02 per cent. MSM Sharia index down by 0.05 per cent to close at 982.39 points. Al Anwar Holding remained the most active in terms of volume as well as turnover.
National Aluminium, up by 3.03 per cent was the top gainer on Monday while National Gas, down by 2.77 per cent, was the top loser of the day.
A total number of 1051 trades were executed during the day's trading session generating turnover of OMR4.65 million with more than 22.3 million shares changing hands. Out of 48 traded stocks, eight advanced, 14 declined and 26 remained unchanged. Foreign investors switched to net buyers for OMR273,000 while Omani Investors switched to net sellers for OMR186,000 followed by GCC & Arab Investors for OMR87,000 worth of shares.
Financial Index
Financial Index closed at 8,054.26 points, up by 0.15 per cent. HSBC Bank, Al Anwar Holding, National Bank of Oman and ONIC Holding increased by 1.41 per cent, 1.27 per cent, 0.55 per cent and 0.51 per cent respectively. United Finance, Al Batinah Development, Global Financial Investment and Oman & Emirates declined by 2.56 per cent, 1.47 per cent, 0.97 per cent, 0.89 per cent and 0.56 per cent respectively.
Industrial Index increased by 0.07 per cent to close at 8,549.19 points. National Aluminium, Al Hassan Engineering, Oman Cement and A'Saffa Foods increased by 3.03 per cent, 2.65 per cent, 1.59 per cent and 1.03 per cent respectively. Al Anwar Ceramics, Oman Fisheries , Al Maha Ceramics and Galfar Engineering declined by 2.17 per cent, 1.45 per cent, 0.68 per cent and 0.59 per cent respectively.
Services Sector Index closed at 3,544.38 points, down by 0.18 per cent. National Gas, OIFC and Oman Oil Marketing declined by 2.77 per cent, 1.67 per cent and 0.57 per cent respectively.
Mobily debt
Lenders to Etihad Etisalat are meeting to discuss the effects of the Saudi Arabian company's accounting errors on 10 billion riyals ($2.7 billion) of loans, according to three people with knowledge of the matter.
The group of seven local banks will get together in Riyadh, the people said, asking not to be identified as the meeting is private. The lenders will discuss whether loan covenants were breached because of the accounting errors, two people said.
A spokesman for Etihad Etisalat, known as Mobily, didn't respond to calls and an e-mail seeking comment.
The company suspended Chief Executive Officer Khalid Omar Al Kaf in November after revealing accounting errors that affected the financial statements for 2013 and 2014. The disclosure prompted the Saudi Arabian market regulator to begin a probe to determine if Mobily violated rules. Serkan Okandan, chief financial officer at United Arab Emirates-based Emirates Telecommunications Corp., the largest shareholder in Mobily, is running operations at the Saudi telecoms company.
Mobily reported a 2.3 billion-riyal loss for the fourth quarter after a two billion-riyal profit a year earlier. The shares have slumped 56 per cent in the past 12 months.
Samba Financial Group, Banque Saudi Fransi, National Commercial Bank, Riyad Bank, Saudi British Bank, Al Rajhi Bank and Saudi Hollandi Bank signed the loan with Mobily two years ago, according to a statement at the time.
Times of Oman
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