MSM index ends higher

Al Jazeera Services, up by 5.79 per cent, was the top gainer, while Al Batinah Development was the top loser with a loss of 2.86 per cent.

MUSCAT: Local institutional buying in banking stocks lifted the MSM30 Index 0.21 per cent to close at 5,831.21 points. The MSM Sharia Index gained 0.22 per cent to close at 868.42 points. Bank Nizwa was the most active in terms of volume while Al Jazeera Services led in terms of turnover. Up 5.79 per cent, Al Jazeera Services was the top gainer while Al Batinah Development was the top loser with a loss of 2.86 per cent.

A total number of 1,143 trades were executed on Wednesday, generating turnover of OMR4.31 million with 28.9 million shares changing hands. Out of 43 traded securities, 16 advanced, 8 declined and 19 remained unchanged. Omani investors remained net buyers for OMR306,000 followed by GCC and Arab investors for OMR69,000 while foreign investors switched to net sellers for OMR374,000 worth of shares.

Financial Index ended at 8,143.01 points, up 0.39 per cent. Oman & Emirates Holding, Al Shariqa Investments, NBO, Bank Nizwa and National Finance increased 2.76 per cent, 1.43 per cent, 1.22 per cent, 1.12 per cent and 0.65 per cent respectively. Al Batinah Development, Al Madina Investments, Taageer Finance and Muscat Finance declined 2.86 per cent, 1.37 per cent, 0.74 per cent and 0.71 per cent respectively.

Industrial Index advanced 0.41 per cent to finish at 7,867.29 points. Oman Fisheries, Galfar Engineering and Al Anwar Ceramics increased 3.10 per cent, 2.06 per cent and 1.20 per cent respectively. Gulf International Chemicals, down 0.69 per cent was the sole loser.

Services Index gained 0.20 per cent to close at 3,039.72 points. Al Jazeera Services, Al Batinah Power, Renaissance Services, Phoenix Power and Al Suwadi Power increased 5.79 per cent, 1.05 per cent, 0.82 per cent, 0.69 per cent and 0.53 per cent respectively. United Power, Ooredoo and Omantel declined 2.86 per cent, 0.65 per cent and 0.35 per cent respectively.

Sensex falls 184 points

Disappointing corporate earnings weighed on equities for the second straight session on Wednesday, sending benchmark Sensex tumbling 184 points to a two-week closing low of 28,155, while hawkish comments from US Fed chair Janet Yellen heightened capital outflow fears.

After opening lower, the BSE Sensex bounced back briefly to hit a high of 28,382.32 on rebound in select stocks. The gauge finally settled 183.75 points or 0.65 per cent lower at 28,155.56, its lowest closing since February 1 when it had ended at 28,141.64. It had shed 12.31 points in the previous session. The NSE Nifty ended 67.60 points or 0.77 per cent down at 8,724.70. Intra-day, it moved between 8,712.85 and 8,807.90.