MSM index ends higher

The top gainer was Oman National Engineering, up by 8.03 per cent, while the top loser was Oman Fisheries.

MUSCAT: Positive regional trends continued to drive the MSM30 Index, which gained 0.24 per cent to close at 5,171.19 points. The MSM Sharia Index ended at 766.72 points, down 0.16 per cent. Bank Muscat was the most active in terms of both volume and turnover. Tuesday’s top gainer was Oman National Engineering, up 8.03 per cent, while the top loser was Oman Fisheries, which lost 2.26 per cent.

Volumes continued to improve with 449 trades being executed during the session, generating turnover of OMR2.29 million with more than 9.23 million shares changing hands. Out of 34 traded securities, 8 advanced, 5 declined, and 21 remained unchanged.

Foreign investors

Foreign investors stayed net sellers for OMR814,000 while GCC and Arab investors were net buyers for OMR649,000, followed by Omani investors for OMR165,000 worth of shares.

Financial Index closed at 7,691.96 points, up 0.16 per cent. NBO, Bank Sohar and Al Anwar Holding gained 0.95 per cent, 0.69 per cent, and 0.64 per cent respectively. Al Sharqia Investments, down 0.92 per cent was the only loser.

Industrial Index retreated 0.63 per cent to finish at 6,974.62 points. Oman Fisheries, Oman Flour Mills and Oman Cement declined 2.26 per cent, 2.24 per cent and 1.35 per cent respectively.

Services Index gained 0.38 per cent to end at 2,614.11 points. Oman National Engineering, Ooredoo, Port Services, Renaissance Services and Omantel increased 8.03 per cent, 2.17 per cent, 1.35 per cent, 0.94 per cent, and 0.84 per cent respectively. OIFC, down 0.57 per cent was the only sector loser.

Sensex at record high

Markets in India continued to set records for the second straight session today with both the Sensex and Nifty closing at life-time highs, as investor optimism climbed on corporate earnings season that kicks off later this week. The BSE Sensex gained over 31 points to end at a new peak of 31,747.09. The broader Nifty gained 15 points to finish at fresh record high of 9,786.05, a day after a technical glitch hampered trading on its platform for over three hours. Matrket expectations are rife that key macro data such as inflation and industrial production — slated for Wednesday — will be encouraging, which accelerated buying pace on Tuesday. The BSE 30-share Sensex resumed higher at 31,789.50 and advanced to touch a new all-time intraday high of 31,885.11, surpassing its previous record of 31,768.39, clocked in Monday’s trade. It shed much of its early gains on profit-booking towards the fagend and settled at fresh life-time high of 31,747.09, up 31.45 points, or 0.10 per cent. The Sensex surpassed its previous record closing of 31,715.64 hit on Monday.

In two days, the index has gained 386.45 points.

Similarly, the broader NSE Nifty zoomed past the 9,800mark for the first time to hit an all-time high of 9,830.05 but failed to maintain record levels on late sell-off, and settled at 9,786.05, up 15 points, or 0.15 per cent. It broke its previous record closing of 9,771.05, hit on Monday after touching an intra-day high of 9,782.15.

Stocks of some sugar companies were lapped up after the government on Monday raised import duty to 50 per cent, from 40 per cent, to restrict cheap inward shipments and support domestic prices.