Muscat: Dividend announcements drove the MSM30 Index, which closed at 5,007.65 points, up by 0.10 per cent. The MSM Sharia Index declined by 0.39 per cent to close at 710.62 points. Bank Muscat was the most active in terms of volume as well as turnover. Up by 5.68 per cent, Oman & Emirates Holding was the top gainer, while Global Financial Investment was the top loser, down by 10.83 per cent.
A total number of 711 trades were executed on Tuesday, generating a turnover of OMR2.96 million with 15.01 million shares changing hands. Out of 35 traded securities, 8 advanced, 14 declined and 13 remained unchanged. GCC and Arab investors were net buyers for OMR396,000 while Omani investors were net sellers for OMR341,000 followed by foreign investors for OMR55,000 worth of shares.
Financial Index gained 0.21 per cent to close at 7,383.79 points. Oman & Emirates Holding, Bank Muscat, NBO and Vision Insurance increased by 5.68 per cent, 2.53 per cent, 0.94 per cent and 0.68 per cent, respectively. Global Financial Investment, Al Izz Bank, Al Madina Takaful, Bank Nizwa and Bank Dhofar declined by 10.83 per cent, 2.53 per cent, 2.11 per cent, 1.12 per cent and 0.95 per cent, respectively.
Industrial Index declined by 0.27 per cent to end at 6,724.34 points. Al Jazeera Steel, up by 0.65 per cent, was the sole sector gainer. Muscat Thread Mills, Oman Fisheries, Galfar Engineering and Al Anwar Ceramics decreased by 5.88 per cent, 1.50 per cent, 1.32 per cent and 0.78 per cent, respectively.
Services Index advanced by 0.36 per cent to close at 2,611.23 points. Renaissance Services, National Gas and Omantel increased by 4.58 per cent, 1.03 per cent and 0.45 per cent, respectively. OIFC, Oman National Engineering, Phoenix Power and Al Jazeera Services declined by 1.53 per cent, 1.04 per cent, 0.80 per cent and 0.61 per cent, respectively.
Dubai Islamic Bank
Dubai Islamic Bank pulled down the emirate's stock index in early trade on Tuesday after it announced a new share issue, while other Gulf bourses moved little.
The Dubai index slipped 1 per cent as Dubai Islamic fell 4.1 per cent. Its board called an annual general meeting for February 21 to approve a proposed capital increase via issuance of up to 1.65 billion new shares; the bank currently has 4.9 billion outstanding shares.
Bahrain's Ithmaar Holding, which listed in Dubai on Monday, shot up its 15 per cent daily limit to 0.87 dirham in heavy trade. Its Bahrain-listed shares surged 7.7 per cent to 21 US cents, equivalent to 0.77 dirham.
Saudi Arabia's index edged up 0.1 per cent after an hour. Investment firm Kingdom Holding, which had risen sharply on the previous two days after owner Prince Alwaleed bin Talal was released in the country's corruption purge, lost steam and was 0.9 per cent lower.
National Medical Care jumped 5.5 per cent after reporting fourth-quarter net profit of 30.7 million riyals ($8.2 million), swinging from a year-earlier loss of 69.7 million riyals.
Qatar's index fell 0.2 per cent but Qatar Commercial Bank added 2.3 per cent after reporting that annual net profit rose 21 per cent. It proposed a one riyal per share dividend for 2017, compared to a 1-for-20 bonus share issue for 2016.