23/01/2012 16:52 AST
Selective buying on index heavy weights led the index to end on a positive note to close at 5591.71 points, up by 0.17 per cent. Renaissance Services was the most active in terms of volume as well as turnover. Renaissance Services was the top gainer for the day to close up by 3.49 per cent, while Oman & Emirates was the top loser and closed down by 6.06 per cent.
As many as 721 trades were executed in yesterday’s trading session generating turnover of RO1.9 million with over 4.59 million shares of trading volume. The market breadth was in favour of advancers. Out of 41 traded stocks, 10 declined, nine advanced and 22 remained unchanged.
Omani investors were net buyers for RO77,000 followed by foreign investors for 53,000 while GCC and Arab investors were net sellers for RO130,000 worth of shares.
Banking and Investment Index was up by 0.25 per cent at 6371.73 points. Oman United Insurance, United Finance, Gulf Investment Services, ONIC Holding and Transgulf Holding increased by 2.48 per cent, 2.48 per cent, 1.75 per cent, 1.75 per cent and 1.72 per cent, respectively. Oman & Emirates and DBIH declined by 6.06 per cent and 2.78 per cent, respectively.
The Industrial Sector Index closed at 5842.10 points, down by 0.20 per cent. Dhofar Cattlefeed, Jazeera Steel Product and Al Hassan Engineering increased by 0.71 per cent and 0.39 per cent, respectively. National Mineral Water, Raysut Cement, Al Anwar Ceramic and Oman Cable Industry declined by 2.08 per cent, 1.51 per cent, 0.61 per cent and 0.14 per cent, respectively.
Services & Insurance Sector Index was up by 0.23 per cent to close at 2497.73 points. Renaissance Services was the only gainer in the sector and was up by 3.49 per cent to close at RO0.474. Majan College, Omantel and Al Maha Petroleum declined by 0.75 per cent, 0.38 per cent and 0.35 per cent, respectively.
Dubai shares rise
Dubai’s shares rose for a third time in four days, gaining 0.5 per cent to 1,334.58 at the 2pm close in the emirate. Qatar’s QE Index and Saudi Arabia’s Tadawul All Share Index slipped 0.2 per cent.
Al Ahli Bank of Qatar rose 4.5 per cent to 100 riyals, the highest close since at least June 2003, when Bloomberg started tracking the shares. The Qatari bank said on January 19 its full-year profit increased to 442.2 million riyals ($121.4 million) from 412.3 million riyals a year earlier.
Mohammad Al Mojil Group slumped for a second day to the lowest since December 6, losing 6.5 per cent to 20.1 riyals. The shares dropped 9.9 per cent on Saturday. The Saudi construction-services company on January 18 forecast “substantial losses” that will exceed 10 per cent of its total assets.
Nama Chemicals fell the most in almost six weeks, dropping 3.8 per cent to 11.4 riyals. The Saudi Arabian petrochemicals company posted a fourth-quarter loss of 59.2 million riyals ($15.8 million) after a profit of nine million riyals a year earlier.
Saudi Chemical, a Saudi Arabian trader and manufacturer of pharmaceutical products, retreated 1.3 per cent to 37.4 riyals, the lowest since March 7. The company said fourth-quarter profit dropped 33 per cent to 58 million riyals from a year earlier.
Union Properties surged to the highest since December 18, advancing 5.8 per cent to 27.5 fils. The Dubai-based real-estate developer appointed Ahmad Khalaf Al Marri as acting general manager after Khalid AlJarwan resigned.
Times of Oman
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