Saturday 12 / July / 2025
Muscat: Oman’s benchmark MSM30 Index continued gaining momentum for the sixth straight session to close with gain of 0.17 per cent at 5,824.68 points, its highest level in five months. The MSM Sharia Index ended at 863.11 points, up 0.07 per cent. Al Madina Investment was the most active in terms of volume while Bank Muscat led in terms of turnover. Renaissance Services was Tuesday’s top gainer, up 6.09 per cent, while Al Madina Investment was the top loser, down 9.09 per cent.
A total number of 620 trades were executed on Tuesday, generating turnover of OMR2.95 million with 14.05 million shares changing hands. Out of 44 traded securities, 9 advanced, 7 declined and 28 remained unchanged. At the session close, Omani investors remained net buyers for OMR263,000 followed by Foreign investors for OMR97,000 while GCC & Arab investors were net sellers for OMR360,000 worth of shares.
Financial Index retreated 0.06 per cent to close at 8,087.08 points. Taageer Finance, Al Sharqia Investments, Al Anwar Holding and Bank Dhofar increased 0.75 per cent, 0.72 per cent, 0.53 per cent and 0.38 per cent respectively. Al Madina Investments, Al Madina Takaful and Gulf Investment Services declined 2.78 per cent, 2.08 per cent and 1.67 per cent respectively.
Industrial Index increased 0.22 per cent to finish at 7,741.00 points. Al Anwar Ceramics, up 2.48 per cent, was the only gainer. Gulf International Chemicals and Oman Cement declined 0.41 per cent and 0.35 per cent respectively.
Services Index ended strongly at 3,041.12 points, up 0.42 per cent. Renaissance Services, Al Jazeera Services and Al Maha Petroleum increased 6.09 per cent, 0.53 per cent and 0.32 per cent respectively. OIFC, down 0.46 per cent was the sole loser.
Sensex trips 104 points
In a climb-down from its 4-month high, the Sensex on Tuesday took its first hit in five sessions by falling over 104 points even as the Nifty slipped below the 8,800-mark, pulled down by rate-sensitive banking, realty and other stocks ahead of the RBI monetary policy.
Investors were anxious concerned about uncertainties over the timing of Federal Reserve rate hike, US policies under President Donald Trump, the upcoming French election and rising oil price that could stoke inflation, going ahead. A weak closing in Asia reflecting overnight losses in the US owing to all these unknowns triggered selling.
The rupee lost 19 paise against the dollar to 67.41, which precipitated the fall.
The 30-share barometer opened a shade higher and rose further before profit-booking kicked in, but settled at 28,335.16, down 104.12 points, or 0.37 per cent. Over the past four sessions, the index had rallied 783.32 points.
The 50-share NSE Nifty broke below the crucial 8,800 level and settled lower by 32.75 points, or 0.37 per cent, at 8,768.30. Intra-day, it traded between 8,809.30 and 8,741.05.
"Market has fallen today as consensus of 25 bps rate cut is largely factored in. Investors are stepping back due to the uncertainty over FOMC rate hike, US policies, rising crude price which could impact inflation and rupee movement which consequently cast a shadow over the future RBI decision," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.
The upmove in the last four sessions mostly came on the back of a series of market-friendly budgetary proposals and expectations that RBI would reduce the policy rate at its policy meet on Wednesday.
In the 30-share Sensex heatmap, 20 ended with losses and 10 turned higher. A lower opening in Europe completed the picture.
Tata Motors slid the most (3.52 per cent), followed by Coal India (2.88 per cent). Others such as ONGC, Adani Ports, Lupin, GAIL, Dr Reddy's, RIL and Axis Bank added to the fall.
Infosys, L&T, Maruti Suzuki, Asian Paints, HDFC and ITC, among others, rose, keeping the fall limited.
The BSE metal index took the biggest knock, down 1.25 per cent, followed by auto, oil and gas and healthcare.
In line with overall trend, the broader markets ended in negative zone, with the mid-cap index down 0.18 per cent and small-cap 0.09 per cent.
The scrip of rating agency Icra zoomed 5.96 per cent to Rs 4,336.45 after the company said its board will meet later this week to consider a proposal for buyback of shares.
