oman share index declines marginally
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Oman share index declines marginally

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Arab Today, arab today Oman share index declines marginally

Muscat Securities Market. - Times file picture
Muscat - Arab today

The benchmark Oman share index, MSM30, edged down 0.21 per cent to close at 5,420.48 points. The MSM Sharia Index closed at 789.25 points, down 0.18 per cent. Bank Sohar was the most active in terms of volume as well as turnover. NBO, up 0.89 per cent was the top gainer while Salalah Mills was Sunday’s top loser, down 3.97 per cent.

A total number of 250 trades were executed on Sunday, generating a turnover of OMR1.51 million with 6.78 million shares changing hands. Out of 21 traded securities, 5 advanced, 7 declined, and 9 remained unchanged. At the session close, Foreign Investors stayed net buyers for OMR244,000 while Omani Investors remained net sellers for OMR192,000 followed by GCC & Arab Investors for OMR52,000 worth of shares. 

Financial Index remained stable at 7,971.77 points, up 0.02 per cent. NBO, Ahli Bank and Al Anwar Holding gained 0.89 per cent, 0.56 per cent and 0.49 per cent respectively. Bank Sohar, Al Madina Takaful and Bank Muscat declined 1.35 per cent, 0.99 per cent and 0.50 per cent respectively.

Industrial Index declined 0.15 per cent to finish at 7,348.79 points. Al Anwar Ceramics, up 0.69 per cent was the sole sector gainer. Oman Fisheries and Galfar Engineering decreased 2.03 per cent and 1.25 per cent respectively.

Services Index closed at 2,773.00 points, down 0.19 per cent. OIFC gained 0.50 per cent while Ooredoo and Omantel lost 1.56 per cent and 0.50 per cent respectively.

Gulf shares fall

Most Gulf stock markets edged down in early trade on Sunday with a much wider first-quarter loss at Saudi Arabia's PetroRabigh helping to pull down that market.

The Saudi stock index slipped 0.3 per cent as Petro Rabigh tumbled its 10 per cent daily limit after reporting that its quarterly loss ballooned to 240 million riyals ($64 million) from 37 million riyals a year earlier, and compared to a profit in the previous quarter.

The company blamed the bigger loss, which contrasted with solid first-quarter earnings at many Saudi petrochemical firms, on reduced margins on refined products and a downtrend in crude oil prices, which hit inventory valuations. Also, it reclassified some payments and temporarily shut a facility in the first quarter.

The stock had been in a strong uptrend since mid-March in anticipation of good first-quarter earnings.

Medical insurer Bupa Arabia climbed 4.2 per cent to 116.75 riyals after saying its international parent Bupa would increase its stake to 34.25 per cent from 26.25 per cent, by purchasing part of Nazer Group's stake. The planned purchase would occur at a price of 143 riyals per share.

But another insurer, MedGulf, plunged 10 per cent after saying it had swung to a 93 million riyal loss in the quarter from a year-earlier profit. It cited a jump in provisions for doubtful debts and lower net underwriting income.

Dubai's index fell 0.5 per cent as Islamic real estate finance company Amlak dropped 1.9 percent after reporting a net profit of 7.5 million dirhams ($2.0 million) for the first quarter; a year earlier, it had reported profit attributable to equity holders of 122.1 million dirhams.

Qatar's index slipped 0.4 per cent, partly because of a 0.5 per cent pull-back by Industries Qatar, which had rebounded for four straight days.

 

 

Source: Timesofoman

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