Fri, 15 February 2013
MUSCAT -- The Muscat Securities Market continued the winning streak with the index heavyweights witnessing buying interest.
The benchmark MSM30 Index touched the new-year high of 5,898.27 points yesterday gaining 0.25 per cent amid high volume.
Analysts expect the market to continue the momentum in the short to medium term. "We anticipate the local bourse be in green with continued optimism in view of the favourable earning results pouring in from the listed companies", says an analyst at a leading brokerage firm.
They also expect the index to cross the 5,900 level in the coming weeks. "The market is witnessing higher fund flows and investors are ready to take risk", he adds. In yesterday's trading Bank Sohar was the most active in terms of volume as well as turnover, while Taageer Finance stood as the top gainer for the day and closed up by 8.05 per cent.
Bank Muscat made a gain of 4 per cent during the last three trading session attracting a relatively high volume of about two million shares daily. Al Sharqiya Investment Holding was the top loser for the day and closed down by 1.91 per cent. A total number of 2,349 trades were executed in yesterday's trading session generating turnover of RO 13.99 million with over 62.49 million shares traded.
Of the 58 traded stocks, 26 advanced, 12 declined and 20 remained unchanged. At the session close, foreign investors were buyers with RO 840,000 worth of shares. Omani investors were net sellers for RO 532,000 while GCC and Arab investors made it for RO 308,000 worth of shares. The financial Sector Index saw a rise of 0.15 per cent and closed at 6,998.43 points.
Taageer Finance, National Fiannce, Al Omaniya Financial Services, Al Anwar Holding and Transgulf Holding increased by 8.05 per cent, 3.68 per cent, 3.03 per cent, 1.95 per cent and 1.94 per cent respectively. Al Sharqiya Investment, DBIH, Global Financial Investment, Oman & Emirates and Ominvest declined by 1.91 per cent, 1.75 per cent, 0.94 per cent, 0.94 per cent , 0.77 per cent and 0.73 per cent respectively
The Industrial Sector Index closed at 7,769.07 points, up by 1.07 per cent. National Galfar Engineering, ASaffa Foods, Salalah Mills, Al Hassan Engineering and Gulf International Chemicals increased by 5.51 per cent, 4.17 per cent, 2.33 per cent, 1.84 per cent and 0.57 per cent respectively. National Aluminium Products, DhofarCattlefeed and Raysut Cement declined by 1.40 per cent, 0.82 per cent, 0.14 per cent respectively.
Services Sector Index closed at 2978.52 points, up by 0.35 per cent. OIFC, Sohar Power, Renaissance Services, Shell Oman Marketing and Majan College increased by 3.33 per cent, 1.24 per cent, 1.01 per cent, 0.40 per cent and 0.33 per cent respectively.
© Oman Daily Observer 2013
