Muscat bourse falls along with other regional markets

Business Sunday 16/April/2017 16:48 PM
By: Times News Service
Muscat bourse falls along with other regional markets

Muscat: Following regional and global cues, the MSM30 Index declined by 0.38 per cent to close at 5,550.69 points. The MSM Sharia Index ended at 815.38 points, down by 1.40 per cent. ACWA Power Barka was the most active in terms of volume and turnover due to a special deal. The top gainer was Galfar Engineering, up by 3.70 per cent, while the top loser was Financial Services, with a loss of 13.33 per cent.
As many as 729 trades were executed on Sunday, generating a turnover of OMR11.25 million with 38.2 million shares changing hands. Out of 38 traded securities, 6 advanced, 19 declined and 13 remained unchanged.
Foreign investors remained net buyers of OMR33,000 while GCC and Arab investors were net sellers of OMR29,000 followed by Omani investors to the tune of OMR4,000 worth of shares.
Financial Index had marginal loss of 0.03 per cent to close at 8,071.56 points. HSBC Bank, Bank Dhofar and Bank Sohar gained 2.27 per cent, 2.23 per cent and 2.13 per cent, respectively. Financial Services, Oman & Emirates Holding, Bank Nizwa, Al Batinah Investment and Al Madina Investments declined by 13.33 per cent, 7.56 per cent, 4.17 per cent, 3.33 per cent and 2.78 per cent, respectively.
Industrial Index fell by 0.98 per cent to close at 7,600 points. Galfar Engineering and Al Jazeera Steel increased by 3.70 per cent and 1.29 per cent, respectively. Oman Fisheries, National Detergent, Al Anwar Ceramics, Raysut Cement and Al Hassan Engineering lost 5.13 per cent, 5.08 per cent, 4.46 per cent, 4.40 per cent and 1.89 per cent, respectively.
Services Index ended at 2,824.00 points, down by 0.24 per cent. National Gas, Phoenix Power, Al Jazeera Services, Ooredoo and Port Services declined by 1.87 per cent, 1.43 per cent, 1.18 per cent, 0.78 per cent and 0.45 per cent, respectively.
Qatar Islamic Bank
Qatar Islamic Bank (QIB), the Gulf state's largest Sharia-compliant lender by assets, met the average forecast of analysts as it reported a 12.8 per cent jump in first-quarter net profit on Sunday.
It made a net profit of QR555.4 million ($152.6 million) during the three months to March 31, compared with QR492.4 million in the same period a year earlier, its statement said.
Three analysts polled by Reuters had forecast on average the bank to make a quarterly net profit of QR518.7 million.
Financing activities grew 9.3 per cent year on year to QR99.5 billion, and deposits gained 16.3 per cent over the same time period to Qr103.9 billion.