Muscat: The MSM 30 Index ended on a flat note at 7332.26 points, marginally down by 0.05 per cent. MSM Sharia Index closed at 1073.66 points, down by 0.05 per cent. Al Anwar Holding was the most active in terms of volume while as well as turnover. National Aluminium was the top gainer of the day with 4.07 per cent gain while Dhofar Cattlefeed was the top loser and closed down by 2.56 per cent.
A total number of 1542 trades were executed on Monday's trading session generating turnover of OMR9.21 million with over 24.76 million shares traded. Out of 54 traded stocks, 13 advanced, 16 declined and 25 were unchanged.
Omani investors switched to net buyers for OMR713,000 while Foreign investors switched to net sellers for OMR605,000 followed by GCC & Arab investors for OMR108,000 worth of shares.
Financial Sector Index was marginally up by 0.08 per cent at 8962.21 points. Al Madina Takaful, United Finance, Oman Takaful and Ahli Bank increased by 2.56 per cent,1.42 per cent,0.99 per cent and 0.90 per cent respectively. Al Sharqiya Investment, ONIC Holding, Al Madina Investment and DBIH declined by 2.17 per cent, 1.36 per cent, 1.01 per cent and 1.01 per cent respectively.
The Industrial Sector Index down by 0.15 per cent at 10170.65 points. National Aluminium, Al Hassan Engineering, Oman Flour Mills and Voltamp Energy increased by 4.07 per cent,2.04 per cent, 1.27 per cent and 0.50 per cent respectively.Dhofar Cattlefeed, Galfar Engineering, Gulf International Chemicals and Al Jazeera Steel Product declined by 2.56 per cent,2.43 per cent, 1.30 per cent and 0.44 per cent respectively.
Services Sector Index was down by 0.16 per cent at 3706.69 points. Al Batinah Power and Al Suwadi Power increased by 2.92 per cent, and 2.33 per cent respectively. Al Jazeera Services, OIFC Omantel and Sembcorp Salalah declined by 2.16 per cent, 0.78 per cent, 0.56 per cent and 0.21 per cent respectively.
Atlantis debt refinancing
Investment Corporation of Dubai (ICD), the emirate state-owned holding company, is seeking to refinance an $880 million loan taken out by resort hotel Atlantis, The Palm, according to four people with knowledge of the matter.
The company hired HSBC Holdings, Standard Chartered, and Emirates NBD on the deal, three of the people said, asking not to be identified as the talks aren't public. The company is seeking a significant cut on the 5.5 per cent above the London interbank offered rate price it has on the existing deal, three of the people said. The new loan could be increased to about $1 billion, one of the people said.
Companies in Dubai are benefiting from resurgent confidence in the economy and abundant liquidity at the local banks to lower borrowing costs. Jebel Ali Free Zone FZE lowered the rate it pays on a Dh2.2 billion ($599 million) Sharia-compliant loan by 50 per cent, three bankers familiar with the deal said earlier this month.
Emaar Malls, the retail arm of Emaar Properties, said in June it had raised a $1.5 billion loan priced at 1.75 per cent above Libor that would be used to refinance a smaller and more expensive loan.
Officials at ICD and Atlantis, The Palm, didn't respond to calls and an e-mail seeking comment. HSBC, Standard Chartered and Emirates NBD declined to comment.