Oman- MSM30 starts week on positive note

Date

5/1/2016 2:49:34 PM

(MENAFN- Muscat Daily) Muscat-

The benchmark MSM30 index rose 0.09 per cent to close Sunday's trading session at 5948.07.

Turnover stood at RO4.23mn while volumes came in at 22.8mn. Out of the 41 stocks traded ten closed higher while eight declined and 23 remained unchanged.

The MSM Shariah index inched up 0.02 per cent to 880.8.

All the sub-indexes posted gains led by the Industrial gauge which rose 0.25 per cent at 7224.96. The Services index added 0.18 per cent to 3230.45 while the Financial index edged up 0.04 per cent to 7729.88.

Top gainers included Al Sharqia Investment Holding (+3.76 per cent) Al Hassan Engineering (+3.06 per cent) and National Gas (+2.86 per cent) while losers included Muscat Thread Mills (-9.52 per cent) Port Services Corporation (-2.96 per cent) and Muscat Finance (-1.64 per cent).

Equity markets in the UAE extended declines on speculation recent gains were overdone after earnings fell at some of the country's biggest banks.

Abu Dhabi's ADX general index slipped for a second day dropping 0.8 per cent to 4506.14 at the close the lowest level in more than two weeks.

First Gulf Bank PJSC the emirate's third-largest lender by assets was the biggest contributor to the gauge's retreat after last week reporting a six per cent decline in first-quarter profit. Abu Dhabi Commercial Bank PJSC which said on Wednesday its profit fell 18 per cent slipped a second day. Dubai's DFM general index lost 1.3 per cent.

Qatar's QE index closed little changed. Aamal Co climbed 4.4 per cent after posting a 25 per cent jump in first-quarter earnings.

Kuwait's SE price index rose 0.2 per cent. Markets in Bahrain and Egypt were closed for public holidays.

By special arrangement with Oman Arab Bank - Investment Management Group

- With inputs from Bloomberg

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