muscat bourse recovers on local support
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Muscat bourse recovers on local support

Arab Today, arab today

Arab Today, arab today Muscat bourse recovers on local support

Muscat Securities Market
Muscat - Arab Today

Shares on the Muscat Securities Market edged up on retail support. The MSM30 Index moved in a narrow range to end flat at 5,819.08 points, marginally up by 0.06 per cent. The MSM Sharia Index closed at 866.48 points, marginally up by 0.06 per cent. Al Madina Investment was the most active in terms of volume as well as turnover. The top gainer was Oman Fisheries, up by 5.36 per cent, while Renaissance Services remained top loser, down by 2.04 per cent.

As many as 1,156 trades were executed on Tuesday, generating a turnover of OMR3.41 million with 27.81 million shares changing hands. Out of 44 traded securities, 17 advanced, five declined and 22 remained unchanged. Omani investors were net buyers of OMR97,000 while GCC and Arab investors were net sellers of OMR62,000 followed by foreign investors for OMR34,000 worth of shares. 

Financial Index gained 0.37 per cent to close at 8,111.06 points. Al Madina Takaful, Al Madina Investment, Al BatinahInvestment and Taageer Finance increased by 5.32 per cent, 4.29 per cent, 1.94 per cent and 1.50 per cent, respectively. Bank Sohar was the only loser and was down by 0.63 per cent to close at OMR0.157.

Industrial Index was up by 0.64 per cent to close at 7,834.89 points. Oman Fisheries and Galfar Engineering increased by 9.32 per cent and 4.30 per cent, respectively. Gulf International Chemicals, Oman Cement and Jazeera Steel Products declined by 0.69 per cent, 0.41 per cent and 0.37 per cent, respectively.

Services Index ended at 3,033.55 points, marginally up by 0.03 per cent. United Power, Renaissance Services, Port Services and Phoenix Power increased by 2.93 per cent, 1.25 per cent, 0.75 per cent and 0.70 per cent, respectively. Sembcorp Salalah was the only loser in the sector and was down by 0.82 per cent to close at OMR0.243.

Market benchmark Sensex snapped its three-day winning run on Tuesday after slipping 12 points to end at 28,339 on sell-off in auto and pharma stocks amid muted global cues.

Trading sentiment was dampened by disappointing earnings by bluechips like Tata Motors and Sun Pharma. On the macro front, wholesale inflation in January accelerated to a 30-month high of 5.25 per cent on rising oil prices.

The 30-share Sensex, after opening up at 28,386.12, advanced to a high of 28,393.42, but late profit-booking pulled it down to 28,263.45. It finally ended at 28,339.31, showing a moderate loss of 12.31 points or 0.04 per cent.

The gauge had gained 61.70 points in the previous three sessions.

The 50-share NSE Nifty too broke below the 8,800-mark by falling 12.75 points, or 0.14 per cent, to 8,792.30 after moving between 8,820.45 and 8,772.50.

Some strength in the rupee, which recovered to 66.91 (intra-day) against the dollar, helped in restricting losses.

"Markets traded today with marginal losses amid volatility. Benchmark indices opened the day in the red and made a few attempts to cross above the flat line, but finally closed with marginal losses," said Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund.

WPI inflation accelerated to a 30-month high of 5.25 per cent in January as rising global crude oil prices spiked domestic fuel cost, even as food prices moderated.

However, January retail inflation, announced on Monday, fell to multi-year low of 3.17 per cent in January mainly on account of declining prices of food items including vegetables and pulses.

Of the 30-share Sensex pack, 20 scrips ended lower while the remaining 10 firmed up.

Globally, other Asian markets dipped after a three-day rally while European markets were mixed in their early session.

Investors were on a wait-and-watch mode ahead of Federal Reserve chair Janet Yellen's address to the US Congress.

Paris CAC rose 0.02 per cent, while London's FTSE fell 0.13 per cent and Germany's DAX shed 0.07 per cent.

Source :Times Of Oman

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