Muscat bourse remains stable

Muscat: Share prices on the Muscat Securities Market remained stable on Wednesday. The MSM30 Index remained stable at 5,737.48 points,marginally up by 0.09 per cent. The MSM Sharia Index ended at 864.10 points, a gain of 0.13 per cent. Gulf Investment Services was the most active in terms of volume while Ooredoo led in turnover. The top gainer was Al Madina Investment, up by 1.85 per cent, while the top loser was National Securities, down by 42.01 per cent.
As many as 528 trades were executed on Wednesday, generating a turnover of OMR2.32 million with 9.8 million shares changing hands. Out of 41 traded securities, 9 advanced, 12 declined and 20 remained unchanged. Oman investors were net buyers of OMR1.07 million while GCC and Arab investors were net sellers of OMR765,000 followed by foreign investors for OMR305,000 worth of shares.
Financial Index remained unchanged at 7,589.24 points. Al Madina Investment, Oman United Insurance, Al Madina Takaful and Al Izz Bank gained 1.85 per cent, 1.83 per cent, 1.41 per cent and 1.41 per cent, respectively. National Securities, Al Sharqia Investments, Al Anwar Holding, Oman & Emirates Holding and Takaful Oman declined by 42.01 per cent, 1.41 per cent, 1.05 per cent, 0.74 per cent and 0.55 per cent, respectively.
Industrial Index retreated 0.14 per cent to close at 7,391.16 points. Al Maha Ceramics and Al Jazeera Steel increased by 0.85 per cent and 0.81 per cent, respectively. Galfar Engineering, Oman Fisheries, Al Anwar Ceramics and Oman Cement declined by 1.94 per cent, 1.61 per cent, 0.58 per cent and 0.43 per cent, respectively.
Services Index closed at 3,074.56 points, up by 0.22 per cent. Sembcorp Salalah, Ooredoo and Phoenix Power gained 1.71 per cent, 1.22 per cent and 0.68 per cent, respectively. National Gas and Port Services lost 2.38 per cent and 1.20 per cent, respectively.
India’s Sensex falls
Equities traded sluggish to close lower by 94.98 points to close at 26,602.84 on profit-booking in key frontline shares of Metal and Telecom sectors, while the broader Nifty ended below the key 8,200-level ahead of much awaited US Federal Reserve verdict later on Wednesday.
The key indices despite initial brief spell of gain shifted to choppy narrow momentum most of the session, while investors opted for wait and watch policy even though the markets across the globe certain about US Federal Reserve verdict and factored in 25 basis points hike for the second time.
Concern over sustained FII outflows amid rate hike event was evident in today's trade as traders took to sidelines, While dissappointing quarterly results key heavy weights also faltered the market.
Profit-booking was led by Metal, Telecom, Capital Goods, Finance, FMCG, Power, Utility, HealthCare and Industrial sectors followed by secondline shares of midcap and smallcap shares.
While some value buying was witnessed in IT, Realty and Teck sectors.
Coal India saw most selling in today's sluggish trade, lossing 4.42 per cent after overnight massive 77 per cent fall in its consolidated net profit for quarter ended September.
The Sensex opened positive at 26,707.91 and marked a high of 26,736.34, later slid to 26,547.05 before settling at 26,602.84.
On Tuesday, the gauge had gained 182.58 points.
The 50-share NSE Nifty ended down by 39.35 points, or 0.48 per cent, at 8,182.45. Intra-day, it moved between 8,229.40 and 8,165.10.