MSM index ends lower

Al Madina Investment, up by 6.15 per cent, was the top gainer while National Aluminium was the top loser, with a loss of 5.06 per cent.

MUSCAT: Weak trend in industrial stocks weighed on the MSM30 Index, which declined by 0.22 per cent to close at 5,401.59 points. The MSM Sharia Index ended at 789.31 points, down by 0.28 per cent. Al Madina Takaful remained the most active in terms of volume as well as turnover. Al Madina Investment, up by 6.15 per cent, was the top gainer while National Aluminium was the top loser, with a loss of 5.06 per cent.

As many as 765 trades were executed on Tuesday, generating a turnover of OMR2.53 million with 19.2 million shares changing hands. Out of 39 traded securities, 7 advanced, 14 declined, and 18 remained unchanged.

Foreign investors remained net buyers of OMR139,000 followed by GCC and Arab investors for OMR36,000 while Omani investors were net sellers of OMR175,000 worth of shares.

Financial Index gained 0.22 per cent to close at 7,994.89 points. Al Madina Investments, Al Madina Takaful, Oman Orix Leasing, Al Izz Bank and BankDhofar gained 6.15 per cent, 3.45 per cent, 3.21 per cent, 2.67 per cent and 0.87 per cent, respectively. Bank Nizwa, Gulf Investment Services and Bank Sohar declined by 1.09 per cent, 1.02 per cent and 0.68 per cent, respectively.

Industrial Index had strong loss of 0.64 per cent to close at 7,310.37 points. Gulf International Chemicals, up by 0.42 per cent, was the sole sector gainer. National Aluminium, Raysut Cement, Voltamp Energy, Galfar Engineering and Al Anwar Ceramics lost 5.06 per cent, 2.75 per cent, 1.34 per cent, 1.25 per cent and 0.68 per cent, respectively.

Services Index ended at 2,768.21 points, down by 0.13 per cent. Oman Investment and Finance, Oman Telecommunications Company, Oman National Engineering, Al Jazeera Services and Port Services declined by 1 per cent, 0.79 per cent, 0.73 per cent, 0.63 per cent and 0.44 per cent, respectively.

Indian shares drop

Benchmark Sensex tumbled 206 points while the broader Nifty closed below the 9,400-mark today as investors booked profits amid volatile global cues in the aftermath of a terror attack in the UK.

Pharma index was the worst performer on both the BSE and NSE after weak quarterly results of Sun Pharma’s overseas arm Taro Pharmaceuticals — seen as representative of the vast Indian generics business in the US — spooked investors. Global cues were negative after at least 22 people were killed and 59 injured when a suicide bomber blew himself up in Manchester — the deadliest terror attack in the United Kingdom since the 7/7 bombings of 2005.

Indian Army carrying out fire assaults on Pakistani posts across the Line of Control (LoC) added to the grim mood, prompting participants to book profits in recent gainers, brokers said.

Investors were also cautious ahead of May series derivative contracts expiry on Thursday.

The 30-share Sensex resumed lower at 30,553.89 and hovered in a range of 30,610.84 and 30,316.92 before settling at 30,365.25, showing a loss of 205.72 points, or 0.67 per cent. The gauge had gained 136.18 points in the previous two sessions.

The NSE 50-share Nifty also tumbled 52.10 points or 0.55 per cent to 9,386.15, after shuttling between 9,448.05 and 9,370.

In Asia, Japan’s Nikkei fell 0.33 per cent and China’s Shanghai Composite Index shed 0.45 per cent, while Hong Kong edged up 0.05 per cent.