Oman Weekly Market Monitor - 18 June

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1. Weekly Market Monitor GBCM Research June 18 , 2017 Current Week Index Performance MSM 30 Index . Financial Index Industrial Index Services Index Previous Week WTD (%) YTD (%) Beta (Yr) Ended on a negative note with dismal volumes… The week gone by saw the MSM30 Index decline by 1.99% to end at 5,248.41 points amidst low market volumes. Drop in oil prices, geopolitical tensions in the region along with upcoming Eid holidays, are all factors which keep investors away from the market. For the week, the Financial Index ended lower by 1.52% while the Industrial Index declined by 1.15%. The Services Index ended the week in red by 2.37%. 5,248.41 5,354.77 -1.99% -9.24% 1.000 7,883.54 8,005.58 -1.52% 2.76% 1.207 7,121.78 7,204.54 -1.15% -3.85% 0.715 2,658.97 2,723.48 -2.37% -13.07% 0.599 Source: MSM, GBCM Research MSM 30 Index Performance Vs Turnover 3,000 5,375 In RO 000s 5,350 2,000 5,325 5,300 1,000 5,275 5,250 - 5,225 Turnover 8-Jun 2,031 11-Jun 1,751 12-Jun 2,379 13-Jun 1,939 14-Jun 1,622 15-Jun 1,967 MSM 30 5,355 5,331 5,314 5,314 5,301 5,248 MSM Weekly Trading Activity - Total Turnover RO 9.657 million (c.US$ 25.11 million) Omanis GCC Arabs Others Source: MSM, GBCM Research Page | 1 Oman Crude Data – May 2017 The Sultanate’s total crude oil and condensates production during May stood at 30,001,819 barrels, a daily average by 967,800 barrels. The total quantities of crude oil exported during the month stood at 24,813,940 barrels, a daily average of 800,450 barrels, comprising a rise of 5.58% compared to April when calculating the daily average. The report said that China imported 80.74 of the exported crude, a decline by 14.86 % compared to April. The imports by Taiwan rose by 3.16%, while the imported quantities by Malaysia stood at 7.66%, the Philippines 2.02% and Japan 2.01%. (Source: Oman Observer) Outlook for the upcoming week… S Fig. In RO In terms of market activity, a total 48.103 million shares got traded during the week amounting to an aggregate turnover of RO 9.657 million as against RO 13.411 million in previous week. In terms of participation, Foreign Investors emerged as net sellers to an extent of RO 630K. Omani and GCC Investors emerged as net buyers to an extent of RO 90K and RO 557 K respectively. Buy Sell Net Buy / (Sell) 7,539,200 7,449,647 89,553 962,586 405,678 556,908 148,571 165,076 (16,505) 1,006,770 1,636,726 (629,956) During the previous trading week, within the GCC region we saw UAE‐DFM (gained +1.7%) followed by Abu dhabi, Kuwait, Bahrain and Qatar surging by 0.6%,0.4%,0.3% and 0.2% respectively, while Oman and Saudi closed on a negative note. MSM ended lower by 2.0% amid sideways movement along with dull market participation. We anticipate the local and the regional markets to trade within a narrow range coupled with low market participation ahead of holiday season. We also expect the local market to see profit booking trend from the traders and retail investors ahead of holidays. from the traders and also retail investors ahead of holidays.
2. Weekly Market Monitor GBCM Research Value Leaders-Weekly 2 ,500 Top Five Gainers/ Losers for the Week 25% 21.4% Al Bat Power 2,000 -11.2% Gulf Inv Ser 20% -7.6% Oman Uni Ins 1,500 Phoenix Power 15% Galfar Engr 8.9% 1,000 10% 6.5% 6.2% 0.7% 1.7% 5.7% 500 5% 1.8% Bank Muscat Ooredoo Raysut Cement Omantel Al Madina Tak 0% -4.9% United Finance Nat Detergent Voltamp Energy Bank Sohar Bonds-3.5% 8.7% MSM Sectoral Market cap for the week Volume Leaders- Weekly 6,000 Other Services, 5.1% 14% 11.6% 10.8% 5,000 -5.5% Oman Nat Engr 5.9% 0 -6.7% 12% 9.8% 10% 8.4% 4,000 Power Utilities, 12.6% 8% 3,000 Banking, 35.1% 5.8% 6% 2,000 Telecom, 14.8% 4% Investments, 6.7% 1,000 0 2% Bank Nizwa Bank Muscat Al Madina Takaful Al Madina Inv Phoenix Power 0% Oil Marketing, 4.7% Other Industry, 11.3% Engg & Const., 0.4% Source: MSM, GBCM Research Source: MSM, GBCM Page Research |2 Leasing, 3.3% Cement, 4.3% Brokerage, 0.2% Insurance, 1.5%
3. Weekly Market Monitor GBCM Research MSM - Value Indicators GCC- Market Performance for the week Value Indicators Mkt . Cap (RO’000s) PER P/BV Dividend Yield (%) MSM 30 Index 6,035,062 12.6 1.1 6.1% Financial 3,281,559 8.3 0.9 5.1% Industrial 882,385 12.6 1.3 5.6% Services 2,525,451 59.2 1.6 7.3% 2,366,131 12.6 1.5 6.9% MSM Shariah ` Source: MSM, GBCM Research Current Week Last Week WTD (%) NYMEX WTI Crude 44.7 45.8 -2.4% ICE Brent Crude 47.4 48.2 -1.6% Crude Oil, Oman 46.0 47.1 -2.4% NYMEX Natural Gas 3.0 3.0 -0.1% 145.5 150.2 -3.1% Gold Spot 1,253.7 1,266.6 -1.0% Silver Spot 16.7 17.2 -3.0% LME Aluminium (Spot) 1,856.0 1,901.3 -2.4% LME Copper (Spot) 5,639.0 5,779.5 -2.4% LME Zinc (Spot) 2,512.3 2,515.0 -0.1% Hot Rolled Coil - Steel 589.0 600.0 -1.8% CBOT Corn 392.0 387.8 1.1% CBOT Wheat 481.5 445.8 8.0% CBOT Soyabean 950.0 941.5 0.9% NYMEX Gasoline Source: Bloomberg; GBCM Research Page | 3 Oman Saudi UAE (DFM) UAE (Abu Dhabi) Kuwait Qatar Bahrain WTD (%) -2.0% -0.7% 1.7% 0.6% 0.4% 0.2% 0.3% YTD (%) -9.2% -5.4% -2.0% -1.0% 18.5% -11.3% 8.7% Source: Bloomberg, GBCM Research Commodities Performance for the week Commodities 20.0% 15.0% 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% Oman - Weekly News watch… Bank Sohar closed a US$ 250 million three-year syndicated term loan facility in line with current strategies to maintain good credit capacity. The facility will be used for general funding purposes and to extend maturities of liabilities profile. Acting as the sole book runner and coordinating bank is Bahrain-based Bank ABC. (Source: Oman Tribune) Oman Fisheries Company recently signed a MoU with Japan's Kyumura to implement joint projects aimed at developing the fishing fleet of Oman Fisheries Company for the commercial fishing of tuna fish and other high value species in Japan and European countries. Pilot fishing for the project has already begun with a fishing vessel belonging to the Japanese company Kyumura (another vessel will join next month) along with Oman's recently re-operated fishing fleet. (Source: MSM) GCC - Weekly News Watch… Fitch Ratings has revised Bahrain's Outlook to Negative from Stable and affirmed the sovereign's Long Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BB+'. The issue ratings on Bahrain's senior unsecured foreign and local currency long-term bonds have been affirmed at 'BB+'. The Country Ceiling has been affirmed at 'BBB+' and the Short-Term Foreign- and LocalCurrency IDRs at 'B'. The issue ratings on Bahrain's senior unsecured local-currency short-term bonds have been affirmed at 'B'. (Source: Bloomberg)
4. Weekly Market Monitor GBCM Research | Institutional Sales - Hunaina Banatwala, (+968) 2235 0717 |Institutional Brokerage – Talal Al Balushi, (+968) 2235 0725| | Equity Research - Kanaga Sundar, (+968) 2235 0727| Vijay Sridharan, (+968) 2235 0728| Disclaimer: This document has been prepared and issued by GULF BAADER CAPITAL MARKETS SAOC ("the Company") on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated are accurate and the opinions given are reasonable, neither GULF BAADER CAPITAL MARKETS SAOC nor any employee shall be in anyway responsible for the contents of this report. The Company may have a position and may perform buying/selling for itself or its clients in any security mentioned in this report. This is not an offer to buy or sell the investments referred therein. Page | 4