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Shares on the Muscat Securities Market recovered amid support from retail investors. Financials stocks drove the MSM30 Index higher to close 5,129.54 points, up 0.57 per cent. The MSM Sharia Index ended at 749.44 points, up 0.13 per cent. Galfar Engineering was the most active in terms of volume while Omantel led in terms of turnover. United Finance, up 5.65 per cent, was the top gainer while Al Sharqia Investment was the top loser, down 3.64 per cent.
A total number of 741 trades were executed on Monday, generating turnover of OMR2.64 million with 13.5 million shares changing hands. Out of 42 traded securities, 13 advanced, 13 declined and 16 remained unchanged. At the end of the trading session, Omani Investors were net buyers for OMR312,000 while GCC & Arab Investors switched to net sellers for OMR302,000 followed by Foreign Investors for OMR10,000 worth of shares.
Financial Index advanced 0.61 per cent to end at 7,483.38 points. United Finance, Ahli Bank, Bank Dhofar, Al Madina Investments and Gulf Investment Services increased 5.65 per cent, 3.55 per cent, 3.41 per cent, 1.59 per cent and 1.18 per cent respectively. Al Sharqia Investments, Vision Insurance, Al Madina Takaful, Al Izz Bank and Al Anwar Holding lost 3.64 per cent, 2.82 per cent, 1.92 per cent, 1.43 per cent and 1.3 per cent respectively.
Industrial Index retreated 0.16 per cent to finish at 6,934.76 points. Al Anwar Ceramics and Al Jazeera Steel gained 3.05 per cent and 2.00 per cent respectively. Voltamp Energy, Galfar Engineering, Gulf International Chemicals and Al Maha Ceramics decreased 3.51 per cent, 2.27 per cent, 2.22 per cent and 1.01 per cent respectively.
Services Index closed at 2,579.57 points, up 0.04 per cent. Al Jazeera Services and Omantel increased 5.30 per cent and 0.39 per cent respectively. National Gas, Sohar Power, Oman National Engineering and OIFC declined 3.04 per cent, 2.52 per cent, 0.66 per cent and 0.61 per cent respectively.
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