Oman- Share prices decline as volume falls 

(MENAFN - Times of Oman) The MSM-30 Index fell 0.420 per cent to close at 6,572 points yesterday. The total shares exchanged decreased sharply by 65.7 per cent to 28.581 million shares and the total value traded decreased by 50.2 per cent to RO9.844 million. During the month of September, the GCC/Arabs were the major sellers in the market as they sold a net of RO8.27 million followed by the foreigner who sold a net of RO3.55 million.

On the other hand, the Omanis were net buyers with total amount of RO11.82 million. The market breadth was negative with 35 declines and 9 advances out of 59 traded securities. Amongst the sectors, the Services and Insurance sector was the only gainer yesterday which closed at 2,808 points, 0.860 per cent higher.

However, Banking & Investment sector and Industrial sector both declined by 1.34 per cent and 1.17 per cent to close at 10,012 points and 7,884 points, respectively.

The top two gainers were: Port Services Corporation (6.70 per cent) and Maha Petroleum (2.07 per cent) to close at RO0.685 and RO9.920. The top two losers were: Al Batinah Hotels (25 per cent) and Oman United Insurance (6.16 per cent) to close at RO3.000 and RO0.274. The top two by volume traded were: Gulf Investment Services (7.8 million shares) and Global Investment (4.8 million shares). The top two by value traded were: Gulf Investment (RO1.4 million) and Omantel (RO0.9 million).

Dubai up

Dubai's benchmark index climbed, extending this quarter's advance, led by shares of Emaar Properties as the company's Indian unit announced plans for an initial public offering. Emaar increased for a second day as Emaar MGF said it would raise as much as Rs38.5 billion (800 million) through an initial share sale.