MSM index ends higher

The top gainer was Majan College, up by 10 per cent, while Al Jazeera Steel, down by 5.96 per cent, was the top loser.

MUSCAT: Trading activity was focused on select stocks and the MSM30 Index ended on a stable note at 5,745.96 points, up by 0.03 per cent. The MSM Sharia Index declined by 0.12 per cent to close at 863.32 points. Oman Fisheries was the most active in terms of both volume and turnover. Oman Flour Mills, up by 3.35 per cent, was the top gainer while Al Jazeera Services was the top loser, down by 4.55 per cent.

A total number of 738 trades were executed on Monday, generating turnover of OMR2.19 million with 14.88 million shares changing hands. Out of 36 traded securities, seven advanced, 13 declined and 16 remained unchanged. Omani investors were net buyers for OMR427,000 while GCC and Arab investors switched to net sellers for OMR251,000 followed by foreign investors for OMR176,000 worth of shares.

Financial Index had marginal gain of 0.03 per cent to close at 7,862.24 points. Bank Nizwa, Takaful Oman and Oman& Emirates Holding gained 2.30 per cent, 2.25 per cent and 0.69 per cent, respectively. Al Madina Investments, Al Batinah Investment Holding, Al Izz Bank, Al Madina Takaful and Gulf Investment Services declined by 3.51 per cent, 3.03 per cent, 2.78 per cent, 2.56 per cent and 1.71 per cent, respectively.

Industrial Index advanced by 0.38 per cent to close at 7,489.96 points. Oman Flour Mills, Oman Fisheries and Al Jazeera Steel in- creased by 3.35 per cent, 2.60 per cent and 0.75 per cent, respectively. Galfar Engineering, Gulf International Chemicals and Oman Cement declined by 1.19 per cent, 1.03 per cent and 0.41 per cent, respectively.

Services Index ended at 2,992.99 points, down by 0.02 per cent. Renaissance Services, up by 2.44 per cent, was the only gainer. Al Jazeera Services, Ooredoo Oman and Oman Telecommunications Company declined by 4.55 per cent, 0.63 per cent and 0.34 per cent, respectively.

Indian shares recover

Indian shares on Monday showed resilience in the face of lurking inflation fears as the Sensex edged up to end at 27,288, helped by financial stocks, amid buzz that the finance ministry is likely to finalise the capital infusion plan for public sector banks.

However, global markets turned nervous after reports surfaced about a hard exit of Britain from the European union. Companies held up well on the earnings front so far, which came as a positive. The 30-share Sensex ended at 27,288.17, up 50.11 points, or 0.18 per cent. The gauge had shed 9 points on Friday.

The broader NSE Nifty settled 12.45 points up, or 0.15 per cent, at 8,412.80. Intra-day, it moved between 8,426.70 and 8,374.40.

Overseas, Asian stocks ended lower, reversing initial gains. Key indices in China, Japan and Hong Kong dropped by up to 1 per cent.