Muscat bourse edges down on weak sentiment

Share index on the Muscat bourse reacted amid weak sentiment. The MSM30 Index remained stable and closed at 5,815.36 points, marginally down by 0.06 per cent. However, the MSM Sharia Index closed at 865.94 points, marginally up by 0.04 per cent. Al Madina Investment was the most active in terms of volume, while Bank Muscat was the most active in terms of turnover. The top gainer was Oman Fisheries, up by 5.36 per cent, while Renaissance Services remained the top loser, down by 2.04 per cent.

As many as 921 trades were executed on Monday, generating a turnover of OMR3.70 million with 20.15 million shares changing hands. Out of 41 traded securities, 11 advanced, eight declined and 22 remained unchanged. Omani investors were net buyers for OMR809,000 while foreign investors were net sellers of OMR716,000 followed by GCC and Arab investors at OMR93,000 worth of shares. 

Financial Index gained 0.14 per cent to close at 8,081.11 points. Al Madina Takaful, Oman&Emirates, Muscat Finance and Gulf Investment Services increased by 2.17 per cent, 2.14 per cent, 1.44 per cent and 0.85 per cent, respectively. Al Batinah Development, Bank Muscat and Bank Dhofar declined by 0.96 per cent, 0.44 per cent and 0.38 per cent, respectively.

Industrial Index was up by 0.30 per cent to finish at 7,785.10 points. Oman Fisheries, Galfar Engineering and Gulf International Chemicals increased by 5.36 per cent, 1.09 per cent and 0.35 per cent, respectively. Oman Cement and Al Jazeera Steel Product declined by 0.41 per cent and 0.37 per cent, respectively.

Services Index ended at 3,032.61 points, showing a fall of 0.12 per cent. Al Jazeira Services and Shell Oman Marketing were up by 1.07 per cent and 0.50 per cent, respectively. Renaissance Services, Port Services and Phoenix Power declined by 2.04 per cent, 1.12 per cent and 0.69 per cent, respectively.

India’s Sensex ends flat

The benchmark Sensex ended with marginal gains for third consecutive session by 17.37 points to finish at 28,351.62 even as global shares rose on renewed optimism over US President Trumps tax reform plans.

The broader Nifty also managed to hold the crucial 8,800-level at 8,805.05 in volatile trade.

After opening on a day positive note, the key indices witnessed selling activiy reacting to last weekends release of dismal December IIP numbers which contracted to four-month lows of 0.4 per cent pressured by demonetisation.

However, the market maintained consolidative mode and ended positive, treading in choppy momentum at one-time losing 137 points intra-day, while sentiments stayed focused on key January Inflation data (CPI) to be released later today.

The 30-share Sensex resumed higher at 28,450.42, later hovered between 28,458.80 and 28,197.38 before closing at 28,351.62, showing a marginal gain of 17.37 points, or 0.06 per cent over its last close.

The Sensex gained 44.23 points in previous two sessions.

The 50-share Nifty, garnered 11.50 points, or 0.13 per cent to finish at 8,805.05, it touched a high of 8,826.90 and low of 8,754.20 during intra-day.

IT, Teck, Utilities, Power and Metals witnessed buying interest, while Realty, Consumer Durables, Industrials, Capital Goods and HealthCare saw selling pressure.

While, secondlines shares of midcap and smallcap companies traded sluggish.

Elsewhere, European and Asian shares rose helped by renewed optimism over Donald Trump's tax reform plans, generally upbeat global economic data and Trump's change of tack to agree to honor the one China policy.

In Asia, Shanghai Composite climbed 0.63 per cent, Hongkong Hang Seng 0.58, Japan's Nikkei climbed 0.41 per cent and ST Singapore up by 0.36 per cent.

Source :Times Of Oman