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Shares on the Muscat Securities Market (MSM) recovered on strong support from institutional investors. The benchmark MSM30 Index ended the session on a positive note at 5,138.97 points, up 0.49 per cent. The MSM Sharia Index gained 0.31 per cent to close at 751.28 points. Due to a special deal, Bank Sohar was the most active in terms of volume as well as turnover. Financial Services, up 33.0 per cent, was the day’s top gainer while Ahli Bank was the top loser, down 1.73 per cent.
A total number of 805 trades were executed on Wednesday, generating turnover of OMR6.72 million with 42.3 million shares changing hands. Out of 43 traded securities, 16 advanced, five declined and 22 remained unchanged. At the end of the trading session, Omani Investors were net buyers for OMR398,000 while Foreign Investors switched to net sellers for OMR356,000 followed by GCC & Arab Investors for OMR42,000 worth of shares.
Financial Index closed at 7,496.74 points, up 0.39 per cent. Financial Services, United Finance, HSBC Bank, Bank Sohar and Al Sharqia Investments increased 33.0 per cent, 3.70 per cent, 3.54 per cent, 2.56 per cent and 1.89 per cent respectively. Ahli Bank, Al Madina Investments, Gulf Investment Services, Oman & Emirates Holding and NBO lost 1.73 per cent, 1.56 per cent, 1.18 per cent, 1.12 per cent and 0.95 per cent respectively.
Industrial Index advanced 0.37 per cent to finish at 6,997.13 points. Al Anwar Ceramics, National Aluminium, Al Jazeera Steel, Oman Fisheries and Raysut Cement gained 1.52 per cent, 1.20 per cent, 1.16 per cent, 0.89 per cent and 0.44 per cent respectively.
Services Index ended at 2,568.46 points, up 0.16 per cent. Omantel, up 0.78 per cent, was the only mover in the sector.
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