MSM index ends lower

Al Batinah Power was the top gainer, up by 2.11 per cent, while Al Anwar Holding was the top loser, down by 2.92 per cent.

MUSCAT: Muscat bourse continued to witness weak trend with MSM 30 Index shedding 0.26 per cent to close at 5,032.87 points.

The MSM Sharia Index closed at 739.50 points, down by 0.26 per cent. Galfar Engineering was the most active in terms of volume while Omantel led in market turnover. Al Batinah Power was the top gainer, up by 2.11 per cent while Al Anwar Holding was the top loser, down by 2.92 per cent.

A total number of 531 trades were executed on Monday, generating turnover of OMR2.83 million with 12.76 million shares changing hands. Out of 40 traded securities, 7 advanced 13 declined and 20 remained unchanged. Local Investors were net buyers for OMR420,000 followed by foreign investors for OMR253,000 while GCC and Arab investors were net sellers for OMR673,000 worth of shares.

Financial Index retreated by 0.29 per cent to close at 7,172.26 points. HSBC Bank and Bank Dhofar gained 0.90 per cent and 0.50 per cent, respectively. Al Anwar Holding, Al Madina Takaful, Al Madina Investments, Oman & Emirates Holding and Ahli Bank lost 2.92 per cent, 1.96 per cent, 1.72 per cent, 1.33 per cent and 1.23 per cent, respectively.

Industry Index closed at 6,759.14 points, down by 0.03 per cent. Oman Fisheries and Voltamp Energy gained 0.90 per cent and 0.36 per cent, respectively. Galfar Engineering and Al Jazeera Steel declined by 1.37 per cent and 0.77 per cent, respectively.

Services Index edged down by 0.16 per cent to close at 2,536.89 points. Al Batinah Power, Al Suwadi Power and Renaissance Services increased by 2.11 per cent, 0.70 per cent and 0.48 per cent, respectively. OIFC, National Gas, Ooredoo and Omantel declined by 2.22 per cent, 2.01 per cent, 1.51 per cent and 0.80 per cent, respectively.

Sensex rebounds

The Bombay Stock Exchange Sensex staged a strong comeback to end higher by nearly 117 points, reversing its three-session losing run on gains in telecom, energy, realty, oil & gas and IT stocks amid firm global cues.

The 30-share index closed higher 116.76 points or 0.36 per cent at 32,506.72. The National Stock Exchange Nifty closed at 10,184.85, showing a gain of 38.30 points, or 0.38 per cent.

Moreover, covering-up by speculators who had been creating short positions too gave equities a push.

Sentiment also got a lift after Revenue Secretary Hasmukh Adhia said on Sunday that some rejig in goods and service (GST) rate structure is required to reduce the burden on small and medium businesses, brokers said.

After a long Diwali-holiday break, market commenced on a strong note at 32,411.86 points, tracking a firm trend at other Asian markets.