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Oman's main index, MSM30 Index, closed with gains at 6,297.46 points, up by 0.16 per cent. The MSM Sharia Index closed at 957.00 points, up by 0.18 per cent. Global Financial Investment was the most active in terms of volume while Renaissance Services was the most active in terms of turnover. Monday's top gainer was Global Financial Investment, up by 8.77 per cent while HSBC Bank Oman, down by 3.70 per cent, was the top loser.
A total number of 1,319 trades were executed during the day's trading session generating turnover of OMR4.16 million with more than 20.115 million shares changing hands. Out of 36 traded securities, 15 advanced, nine declined and 12 remained unchanged.
Omani investors were net buyers for OMR104,000 followed by GCC and Arab investors for OMR50,000 while foreign investors were net sellers for OMR154,000 worth of shares.
Financial Index closed at 7,803.47 points, down by 0.21 per cent. Global Financial Investment, Al Batinah Development, ONIC Holding and Gulf Investment Services increased by 8.77 per cent, 6.25 per cent, 3.36 per cent and 1.36 per cent respectively. HSBC Bank Oman, Al Anwar Holding, Al Izz Bank and Oman & Emirates declined by 3.70 per cent, 1.45 per cent , 1.20 per cent and 0.82 per cent respectively.
Industrial Index down by 0.12 per cent to close at 8,266.51 points. National Aluminium, Oman Fisheries and Salalah Mills increased by 1.88 per cent, 1.67 per cent and 0.81 per cent respectively. Galfar Engineering, Gulf International Chemicals and Al Anwar Ceramics declined by 2.84 per cent, 1.71 per cent and 0.52 per cent respectively.
Services Sector Index ended the day at 3,457.86 points, up by 0.16 per cent. Renaissance Services, Al Jazeera Services, Oredoo Oman and National Gas increased by 4.32 per cent, 2.40 per cent,1.70 per cent and 0.50 per cent respectively. Sohar Power was the only loser in the sector and was down by 1.58 per cent to close at OMR0.374.
Bahrain Islamic Bank
Standard Chartered's Chief Executive Officer for Bahrain, Hassan Jarrar, is leaving to head Bahrain Islamic Bank, two people with knowledge of the matter said. Standard Chartered confirmed his departure in an e-mailed response to questions from Bloomberg. Jarrar served as CEO of its Bahrain unit since November 2011, and was earlier the head of origination and client coverage for the lender's wholesale banking unit in the UAE.
Jarrar's departure comes amid a shakeup in top management at the London-based lender after profit slumped. Chairman John Peace, CEO Peter Sands, Asia head Jaspal Bindra and Viswanathan Shankar, head of Europe, Middle East, Africa and Americas, are all leaving the bank.
The timing of Jarrar's departure wasn't certain, said the people, asking not to be identified because the information is private.
A spokesman for Bahrain Islamic Bank didn't respond to phone calls. The bank had appointed Mohammed Ahmed Hassan acting CEO in September following the resignation of Mohammed Ebrahim Mohammed.
Times of Oman
The stock markets in the UAE and GCC were in a tug-of-war state as investors weighed positive news on the economic front and a ‘catastrophic’ overnight explosion in Lebanon that killed at least 100.<
GCC equity markets staged a strong recovery in the latter part of 2Q20, reversing a large part of the prior losses induced by the coronavirus and its associated lockdowns and restrictions. The recove
The MSM 30 Index closed the week up by 0.12 per cent despite lower volume and turnover as compared to the previous week. Shariah index was down by 0.07 per cent. The turnover and volumes were lower t
Oman Daily Observer
Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has listed $4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding (MDGH).
The Gulf Today
Leading UAE banks have come to the bond market, and they are getting a warm response. Sharjah Islamic Bank priced its $500 million 5-year sukuk at LIBOR plus 285 bps, and received more than $3.4 bil