MSM index ends lower

Oman Fisheries, up by 7.59 per cent, was the top gainer while Al Anwar Ceramics was the top loser, down by 3.03 per cent.

MUSCAT: Local selling in banking stocks dragged down the MSM30 Index, which ended the session at 5,720.77 points, down by 0.29 per cent. The MSM Sharia Index declined by 0.08 per cent to close at 857.64 points. Oman Fisheries was the most active in terms of volume, while SMN Power Holding was the most active in terms of turnover due to a cross deal. Oman Fisheries, up by 7.59 per cent, was the top gainer while Al Anwar Ceramics was the top loser, down by 3.03 per cent.

As many as 768 trades were executed on Wednesday, generating a turnover of OMR5.53 million with 18.82 million shares changing hands. Out of 41 traded securities, 10 advanced, 10 declined and 21 remained unchanged. Foreign investors were net buyers for OMR259,000 while Omani investors switched to net sellers of OMR234,000 followed by GCC and Arab investors for OMR25,000 worth of shares.

Financial Index ended negatively at 7,806.26 points, down by 0.51 per cent. Al Madina Takaful, Al Batinah Investment, Al Anwar Holding and Oman& Emirates Holding gained 4 per cent, 3.13 per cent, 1.08 per cent and 0.69 per cent, respectively. Bank Sohar, Taageer Finance, Ahli Bank, Bank Muscat and National Bank of Oman declinedby 1.89 per cent, 1.60 per cent, 1.05 per cent, 0.85 per cent and 0.82 per cent, respectively. Industrial Index closed at 7,490.71 points, up by 0.05 per cent.

Oman Fisheries and Voltamp Energy increased by 7.59 per cent and 2.01 per cent, respectively. Al Anwar Ceramics, Oman Cement and Al Jazeera Steel declined by 3.03 per cent, 0.81 per cent and 0.37 per cent, respectively.

Services Index advanced 0.24 per cent to finish at 3,000.58 points. Renaissance Services, Ooredoo and Oman Telecommunications Company gained by 1.42 per cent, 1.29 per cent and 0.69 per cent, respectively. Sohar Power, down by 2.17 per cent, was the only loser.

Indian shares gain

Market took comfort from the government’s move to put foreign portfolio investors (FPI) taxation on hold as the Sensex finished the day at 27,258 with minor gains and the Nifty got back to the top of the crucial 8,400-mark amid firm global leads.

But policy uncertainties about the incoming Donald Trump administration in the US and profit taking by investors towards the end of the session saw the indices come off their day’s highs.

The Sensex opened higher, but closed at 27,257.64, a gain of 21.98 points, or 0.08 per cent. The 50-share Nifty too recovered 19 points, or 0.23 per cent, to close at 8,417 after moving in a range of 8,460.30 and 8,397.40.

The rupee lost ground against the dollar as it ended at 68.08, which restricted early gains.

Foreign investors turned net buyers of Indian equities for the first time this month on Monday.