Major recovery on Muscat bourse

Muscat: Recovery in banking sector lifted the MSM30 Index to 5,596.67 points, a gain of 1.06 per cent. The MSM Sharia Index ended at 846.18 points, up by 0.67 per cent. Bank Nizwa was the most active in terms of volume while Ooredoo led in terms of turnover. The top gainer on Monday remained Al Madina Takaful, up by 7.95 per cent, while the top loser was A’Saffa Foods, down by 5.78 per cent.
As many as1,448 trades were executed on Monday, generating a turnover of OMR6.29 million with 30.9 million shares changing hands. Out of 49 traded securities, 23 advanced, 7 declined and 19 remained unchanged. GCC and Arab investors were net buyers for OMR220,000 followed by Omani investors for OMR26,000 while foreign investors were net sellers for OMR246,000 worth of shares.
Financial Index had strong rally of 1.63 per cent to close at 7,998.55 points. Al Madina Takaful, Al Batinah Investment, Al Sharqia Investments, Bank Sohar and Al Madina Investments gained 7.95 per cent, 6.90 per cent, 6.90 per cent, 4.44 per cent and 4.23 per cent, respectively.
Industrial Index ended at 7,807.03 points, down by 0.16 per cent. Al Jazeera Steel, Al Anwar Ceramics, Galfar Engineering and Raysut Cement increased by 2.69 per cent, 2.60 per cent, 1.18 per cent and 1.12 per cent, respectively. A’Saffa Foods, Oman Fisheries, Al Maha Ceramics and Al Hassan Engineering declined by 5.78 per cent, 5.03 per cent, 4.09 per cent and 3.77 per cent, respectively.
Services Index gained 0.14 per cent to finish the session at 2,883.29 points. Ooredoo, Omantel, OIFC, Al Jazeera Services and Sembcorp Salalah gained by 1.48 per cent, 1.47 per cent, 1.41 per cent, 0.57 per cent and 0.41 per cent, respectively. National Gas and Port Services declined by 5.58 per cent and 0.43 per cent, respectively.