Oman's share index eadges higher

Muscat: The MSM30 Index rebounded to close higher at 7,488.47 points, up by 0.23 per cent. The MSM Sharia index closed marginally lower at 1,082.40 points, down by 0.01 per cent. Al Anwar Holding was the most active in terms of volume while Omantel was the most active in terms of turnover.

Al Anwar Holding was the top gainer of the day, up by 3.16 per cent while ONIC Holding was the top loser of the day having gone down 2.27 per cent.

A total number of 1,128 trades were executed during the DAY'S TRADING session generating turnover of OMR7.58 million with 19.46 million shares changing hands. Out of 53 traded stocks, 17 advanced, 12 declined and 24 remained unchanged.

GCC & Arab investors were net buyers for OMR426,000 followed by Foreign investors for OMR171,000 while Omani investors were net sellers for OMR597,000 worth of shares. 
The financial Index rebounded strongly to close at 9,393.32 points, up by 0.41 per cent. Al Anwar Holding, HSBC Bank Oman, Oman United Insurance, Bank Dhofar and NBO increased by 3.16 per cent, 1.70 per cent, 1.38 per cent, 1.08 per cent and 0.51 per cent respectively.

ONIC Holding, Al Izz Islamic Bank, Bank Nizwa, Al Madina Investments and Takaful Oman declined by 2.27 per cent, 1.96 per cent, 1.05 per cent, 1.03 per cent and 0.97 per cent respectively.

Industrial Index was up by 0.08 per cent to close at 10,231.68 points. National Aluminium, Raysut Cement, Oman Textile, Dhofar Cattlefeed and Voltamp Energy increased by 1.07 per cent, 0.71 per cent, 0.71 per cent, 0.56 per cent and 0.47 per cent respectively.

Construction Materials and Al Hassan Engineering declined by 1.72 per cent and 1.35 per cent respectively. Services Sector Index closed relatively flat at 3,784.08 points, up by 0.01 per cent.  Al Jazeera Services, Al Batinah Power, OIFC and Omantel increased by 0.90 per cent, 0.56 per cent, 0.40 per cent and 0.30 per cent respectively. Sharqiyah Desalination and Renaissance Services declined by 2.15 per cent and 0.57 per cent respectively.

Emaar share prices
Emaar Properties received orders for all of the shares allocated to institutional investors in its shopping-mall unit's initial public offering.

The orders, accounting for about 70 per cent of the IPO, were within the company's price-range target of Dh2.5 to Dh2.9 a share, Dubai-based Emaar said in a statement on Monday.

Emaar, the Dubai-based owner of the world's biggest shopping centre, said it's seeking to raise as much as $1.58 billion from the share sale, which would make it the biggest IPO in the United Arab Emirates since port operator DP World raised $4.96 billion in 2007. The mid-point of the price range would value the company at about Dh35.1 billion ($9.6 billion), Emaar said.

Emaar Malls Group plans to sell two billion of its founders' shares, or about 15 per cent of its equity. The final price will probably be set on September 29 and the shares will list on the Dubai Financial Market on October 2, the parent company said. Emaar Malls' profit increased 24 per cent in the first half to Dh617 million, while revenue climbed 15 per cent to Dh1.26 billion, according to a company statement.

The share sale began on September 14 and ends on September 24 for individual investors and September 26 for institutional investors.