MSM rises marginally
Al Batinah Investment was the highest gainer to close up by 4.92 per cent, while Oman Education & Training, which lost 5.59 per cent, was the top loser of the day
MUSCAT: Oman’s general index, MSM30 Index, ended the day at 6,464.39 points, up by 0.16 per cent. The MSM Shariah Index closed at 996.56 points, up by 0.05 per cent. The Financial Corporation was the most active stock in terms of volume, while Ooredoo was the most active in terms of turnover.
Al Batinah Investment was the highest gainer to close up by 4.92 per cent, while Oman Education & Training, which lost 5.59 per cent in value, was the top loser for the day.
As many as 507 trades were executed during the day’s trading session generating turnover of OMR1.85 million with over 6.77 million shares changing hands. Out of 40 traded securities, 16 advanced, five declined and 19 remained unchanged. Omani investors were net buyers for OMR167,000 while foreign investors were net sellers for OMR111,000 followed by GCC and Arab investors for OMR56,000.
Financial Index closed at 7,841.53 points, up by 0.08 per cent. Al Batinah Investment, the Financial Corporation, Global Finance & Investment, ONIC Holding and United Finance increased 4.92 per cent, 2.73 per cent, 2.61 per cent, 2.16 per cent and 1.43 per cent, respectively. Bank Nizwa and Bank Muscat declined by 1.33 per cent and 0.36 per cent, respectively.
Industrial Index posted mar- ginal gains of 0.04 per cent to close at 8,326.67 points. National Mineral Water, Construction Materials, Al Maha Ceramics and Gulf International Chemicals gained 3.03 per cent, 2.50 per cent, 1.16 per cent and 0.85 per cent, respectively.
Services Sector Index closed on a strong note at 3,497.19 points, up by 0.34 per cent. Sembcorp Salalah, Al Batinah Power, Al Suwadi Power and Omantel increased by 2.98 per cent, 1.98 per cent, 1.46 per cent and 0.29 per cent, respectively. Oman Education & Training, Renaissance Services and OIFC declined 5.59 per cent, 0.61 per cent and 0.42 per cent, respectively.
Amlak shares gain
Amlak Finance’s shares are too expensive, analysts say. That hasn’t deterred retail investors from buying them.
The Sharia-compliant mortgage provider’s stock has risen the maximum allowed for three straight days, soaring 51 per cent since they started trading on Tuesday to Dh1.54 on Sunday. EFG-Hermes UAE said last week the company’s fair value was less than half its starting price of Dh1.02. Amlak’s shares, which resumed after it restructured $2.7 billion of liabilities, were suspended in November 2008 before the UAEs’ government intervened to rescue the company from insolvency.