MSM index ends higher

The top gainer was Raysut Cement, up 1.31 per cent while the top loser was Al Maha Ceramics, down 4.91 per cent.

MUSCAT: Oman’s benchmark MSM30 Index had marginal gains of 0.18 per cent to close at 5,097.59 points. The MSM Sharia ended on a flat note at 760.23 points. Ooredoo was the most active in terms of volume as well as turnover. The top gainer was Raysut Cement, up 1.31 per cent while the top loser was Al Maha Ceramics, down 4.91 per cent.

A total number of 430 trades were executed on Tuesday, generating a turnover of OMR1.68 million with 8.16 million shares changing hands. Out of 32 traded securities, 8 advanced, 11 declined, and 13 remained unchanged. At the session close, Omani Investors were net buyers for OMR235,000 while Foreign Investors remained net sellers for OMR208,000 followed by GCC & Arab Investors for OMR27,000 worth of shares.

Financial Index ended at 7,632.78 points, down 0.20 per cent. Bank Muscat, Al Batinah Development and Al Madina Takaful gained 1.08 per cent, 1.06 per cent and 0.88 per cent respectively. Gulf Investment Services, Al Madina Investments, Al Sharqia Investments, Oman & Emirates Holding and Bank Nizwa decreased 4.76 per cent, 2.90 per cent, 2.73 per cent, 1.92 per cent and 1.08 per cent respectively.

Industrial Index had loss of 0.41 per cent to finish at 7,082.09 points. Raysut Cement, up 1.31 per cent, was the only sector gainer. Al Maha Ceramics, Oman Fisheries, Galfar Engineering and Al Anwar Ceramics lost 4.91 per cent, 1.40 per cent, 1.28 per cent and 0.77 per cent respectively.

Services Index closed at 2,595.85 points, a gain of 0.18 per cent. Omantel, Phoenix Power, Oman Education & Training and Ooredoo declined 0.90 per cent, 0.85 per cent, 0.63 per cent and 0.44 per cent respectively.

Indian shares fall

The benchmark Sensex snapped three consecutive sessions of gains to end flat, slipping 11.83 points to 31,209.79, while the broader Nifty managed to hold the key 9,600-level in volatile trade tracking negative global peers.

The Sensex swung over 187 points (both ways) during the session on alternate bouts of buying and selling by investors as they booked profits in recent gainers amid weak global cues on geopolitical concerns.

Sentiments took a beating after global markets tumbled as earlier gains were quashed by tensions on the Korean peninsula following North Korea’s missile launch, brokers said.

Concerns also lingered due to persistent capital outflows by foreign funds, they added.

“Market traded between gains and losses due to profit booking after yesterday’s rally and weak global market. Two domestic factors which could drive the market in the near-term are high valuation and Q1FY18 results which are likely to be muted due to de-stocking.” Vinod Nair, Head of Research, Geojit Financial Services Ltd said.

The Sensex opened higher at 31,331.21 points on sustained buying activity and continued its advance to touch a high of 31,353.46 points.

However, it lost momentum on emergence of profit-booking in recent gainers towards the fagend, as it slipped into the negative zone and hit a low of 31,166.37 before settling at 31,209.79, showing a marginal fall of 11.83 points, or 0.04 per cent, over its previous close. The 50-share NSE Nifty too settled in the negative terrain by falling 1.70 points, or 0.02 per cent, to 9,613.30. Intra-day, it shuttled between 9,650.65 and 9,595.50.