Tuesday 21 / May / 2024
Muscat: Shares on the Muscat bourse recovered on buying support at lower levels. The MSM30 Index closed at 5,797.16 points, marginally up by 0.08 per cent. The MSM Sharia Index closed at 871.38 points, down by 0.10 per cent. Galfar Engineering remained the most active in terms of volume as well as turnover. The top gainer was Bank Dhofar, up by 2.61 per cent,while OIFC was the top loser with a loss of 2.90 per cent.
A total number of 549 trades were executed on Monday, generating a turnover of OMR1.99 million with 9.3 million shares changing hands. Out of 41 traded securities, 7 advanced, 19 declined and 15 remained unchanged. Omani investors were net buyers for OMR281,000 while foreign investors were net sellers of OMR213,000 followed by GCC and Arab investors of OMR68,000 worth of shares.
Financial Index ended flat at 7,891.98 points, marginally down by 0.01 per cent. Bank Dhofar, Al Sharqiya Investment and National Bank of Oman increased by 2.61 per cent, 0.70 per cent and 0.40 per cent, respectively. Bank Sohar, Al Madina Investment, Al Madina Takaful and AlIzz Islamic Bank declined by 1.84 per cent, 1.72 per cent, 1.33 per cent and 1.33 per cent, respectively.
Industrial Index closed at 7,511.53 points, down by 0.41 per cent. Oman Cement was the only gainer and was up by 0.82 per cent to close at OMR0.490.Al Anwar Ceramics , National Aluminium, Oman Fisheries and Galfar Engineering declined by 2.67 per cent, 2.06 per cent, 1.54 per cent and 1.05 per cent, respectively.
Services Index declined by 0.06 per cent to close at 3,028.57 points. Oman Telecommunications Company and Ooreedoo Oman increased by 0.63 per cent and 0.68 per cent, respectively. OIFC and Phoenix Power declined by 2.90 per cent and 0.67 per cent, respectively.
Sensex ends lower
Benchmark Sensex on Monday closed almost 33 points lower at 26,726.55, extending losses for the second straight session, dragged down by healthcare, oil&gas and power stocks amid caution ahead of December quarter earnings due from this week.
A sense of uncertainty prevailed among investors, who fear that companies' quarterly results will be impacted by the Centre's surprise demonetisation move. Besides, other developments with regard to state assembly elections and next month's Union Budget are also influencing sentiment.
Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services, "The market is consolidating in a narrow range ahead of the kick start of earnings season this week. The participants are lined up with checklist to determine how the effect of cash crunch and the rise in commodity prices have impacted the margins and the profitability. Any underestimated impact is likely to create a cascading effect to the euphoria of a pre-budget rally."
The key indices traded choppy with realty, IT, FMCG and industrials gaining and oil & gas, healthcare, energy and power sector stocks falling. The broader shares of midcap and smallcap companies outperformed the headline indices.
The Sensex opened higher at 26,860.81 and hovered between 26,860.88 and 26,701.18 before ending at 26,726.55, showing a loss of 32.68 or 0.12 per cent. The gauge had lost 119.01 points in previous trade.
The NSE 50-share Nifty also closed marginally lower by 7.75 points, or 0.09 per cent, at 8,236.05.
Overseas, Asian stocks ended mixed with Japan stock market closed for holiday. Shanghai Composite, Singapore, Hong Kong stocks gained between 0.25 to 0.64 per cent.
European stocks were trading lower on caution ahead of eurozone unemployment data due later on Monday, with CaC France and Germany Dax down at 0.60 per cent and 0.44 per cent. While London FTSE trading up at 0.26 per cent.
