Saturday 20 / April / 2024
Muscat: Continued pressure on the banking sector drove down the MSM30 Index by 1.08 per cent to close at 5,543.09 points. The MSM Sharia Index ended at 839.52 points, down 0.58 per cent. Bank Muscat remained the most active in terms of volume as well as turnover. Al Madina Investment, up 1.47 per cent was the top gainer while Ahli Bank was the top loser, down 6.03 per cent.
A total number of 776 trades were executed on Tuesday, generating turnover of OMR4.45 million with 18.66 million shares changing hands. Out of 31 traded securities, 6 advanced, 12 declined and 13 remained unchanged. At the session close, GCC & Arab investors remained net buyers for OMR1.068 million while Foreign investors were net sellers for OMR384,000 followed by Omani investors for OMR384,000 worth of shares.
Financial Index continued its downtrend and ended at 7,821.40 points, down 1.10 per cent. Al Madina Investments, Al Batinah Development, Bank Nizwa and Al Anwar Holding gained 1.47 per cent, 1.18 per cent, 1.11 per cent and 1.00 per cent respectively. Ahli Bank, DIDIC, Al Madina Takaful, Bank Dhofar and Muscat Finance declined 6.03 per cent, 5.56 per cent, 5.49 per cent, 5.46 per cent and 2.22 per cent respectively.
Industrial Index declined 0.23 per cent to finish at 7,791.50 points. Oman Fisheries and Voltamp Energy declined 1.65 per cent and 1.44 per cent respectively.
Services Index had strong loss of 0.71 per cent to close at 2,909.95 points. Oman Education & Training and OIFC gained 0.72 per cent and 0.44 per cent respectively. Shell Oman Marketing, Ooredoo and Renaissance Services decreased 5.28 per cent, 1.48 per cent and 0.45 per cent respectively.
Sensex rebounds
A day after extensive profit-booking, the benchmark Sensex staged a smart recovery by 172.37 points to close at 29,409.52 on fresh spell of buying activity as global peers anxiety subsided over US President Donald Trump's failure to push healthcare bill.
Asian and European rose on Tuesdayafter earlier losses, as investors dismissed the defeat of US President on healthcare and assessed that it will pave the way for faster reforms like Tax cuts.
Opening on a positive note, range-bound consolidative momentum saw the investors resorting to buying activity in most of the sectors led by Telecom, Banking, Financials, Auto and ConsumerDurable sectors along with a tinge of short-covering ahead of the March derivative contract expiry on Thursday, while Realty, Energy and Oil&Gas segments witnessed profit-booking.
The key indices also pulled-off gains amid positive vibes set-in over sustained capital inflows, stock specific actions amid Finance Minister Arun Jaitley on Monday tabled four necessary bills for GST in Lok-sabha and with its passing, assuring the landmark GST-implementation from July 1.
The Sensex opened higher at 29,301.22 and hovered between 29,442.18 and 29,301.22 before finishing at 29,409.52, showing a gain of 172.37 points or 0.59 per cent.
The Sensex had lost 184.25 points on 0.65 per cent on Monday.
The NSE 50-share Nifty also rose 55.60 points or 0.61 per cent to end at 9,100.80. It moved between 9,081.50 and 9,110.40.
Axis Bank were the top Sensex gainer, rallying 3.23 per cent after the private sector bank informed the bourses that it has raised senior notes in the international market.
Telecom major Bharti Airtel were in form today rising 2.05 per cent after it announced that it has completed the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Limited.
In Overseas, most Asia markets rose as investors looked beyond the failure of the Trump administration to replace the Affordable Care Act.
Key indices like Japan, Singapore, Hong Kong, and South Korea gained by 1.14 per cent to 0.35 per cent.
Key European markets were also trading higher in their afternoon trade as with indices like Germany and UK rose by 0.57 per cent and 0.06 per cent, while France down by 0.03 per cent.
