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: Shares on the Muscat bourse partially recovered on Wednesday. The MSM30 Index ended the session on a positive note at 5,553.52 points, up by 0.19 per cent. The MSM Sharia Index gained 0.30 per cent to close at 842.03 points. Al Madina Investment was the most active in terms of volume while Bank Muscat led in terms of turnover. The top gainer was A’Saffa Foods, up by 5.49 per cent while the top loser was Port Services with a loss of 9.69 per cent.

As many as 922 trades were executed on Wednesday, generating turnover of OMR3.22 million with 19.44 million shares changing hands. Out of 38 traded securities, 17 advanced, 11 declined and 10 remained unchanged. GCC and Arab investors remained net buyers for OMR203,000 followed by foreign investors for OMR43,000 while Omani investors were net sellers for OMR246,000 worth of shares.

Financial Index recovered 0.31 per cent to close at 7,845.67 points. Gulf Investment Services, Al Madina Investments, Ahli Bank, Ominvest and Takaful Oman gained 4.55 per cent, 2.90 per cent, 2.67 per cent, 2.26 per cent and 1.74 per cent, respectively. Oman United Insurance, Al Batinah Investment, Al Madina Takaful and Muscat Finance declined by 8.65 per cent, 3.53 per cent, 1.16 per cent and 0.81 per cent, respectively.

Industrial Index ended at 7,809.85 points, up by 0.24 per cent. A’Saffa Foods, Al Jazeera Steel, Galfar Engineering and Voltamp Energy gained 5.49 per cent, 3.85 per cent, 2.44 per cent and 0.36 per cent, respectively. Gulf International Chemicals and Raysut Cement declined by 3.42 per cent and 0.72 per cent, respectively.

Services Index retreated 0.45 per cent to close at 2,896.86 points. Ooredoo, up by 0.75 per cent, was the sole sector gainer. Port Services, OIFC, Oman Telecommunications Company, Phoenix Power and Sembcorp Salalah declined by 9.69 per cent, 8.70 per cent, 1.06 per cent, 0.71 per cent and 0.41 per cent, respectively.

Sensex ends higher

The stocks saw a rockier ride on Wednesday, but in the end, the Sensex ended up for the second day as it climbed 122 points to about a one-week high of 29,531, spurred by the State Bank of India (SBI) and ICICI Bank, ahead of the derivatives expiry on Thursday.

The volatility set in after the verdict of the Supreme Court that banned sale and registration of BS-III vehicles.

A firming trend in Asia and a higher opening in Europe made the vibes positive, traders said.

After a positive start, the 30-share index rose further to hit the day’s high of 29,554.39 and settled up 121.91 points, or 0.41 per cent, at 29,531.43 — a level last seen on March 20 when it had closed at 29,518.74.