Oman shares rise on gains in banking sector

Muscat: Supported by gains in Bank Dhofar and Bank Sohar, the MSM 30 index closed with gains at 5,402.44 points, up 0.32 per cent. The MSM Sharia Index was up by 0.05 per cent to end at 791.74 points. Bank Sohar was the most active in terms of both volume and turnover. Bank Dhofar was the top gainer, up 2.16 per cent, while Gulf Investment Services was today’s top loser, down 2.06 per cent.
A total number of 470 trades were executed Tuesday, generating a turnover of OMR2.40 million with 16.23 million shares changing hands. Out of 33 traded securities, 11 advanced, 8 declined, and 14 remained unchanged. Omani investors were net sellers for OMR132,000 worth of shares while GCC & Arab Investors remained net buyers for OMR119,000 followed by Foreign Investors for OMR12,000 worth of shares.
Financial Index closed at 8,018.60 points, up 0.53 per cent. Bank Dhofar, Al Madina Takaful, Bank Sohar, Bank Nizwa, and Al Anwar Holding gained 2.16 per cent, 1.71 per cent, 1.40 per cent, 1.08 per cent, and 0.99 per cent respectively. Gulf Investment Services and Oman & Emirates Investment Holding declined 2.06 per cent and 1.77 per cent respectively.
Industrial Index ended the session at 7,274.35 points, down 0.15 per cent. There were no gainers from the sector. Galfar, Al Anwar Ceramics, and Oman Fisheries decreased by 1.20 per cent, 0.71 per cent, and 0.69 per cent respectively.
Services Index had marginal loss of 0.10 per cent to close at 2,760.80 points. Al Jazeera Services and Oredoo gained by 0.63 per cent and 0.40 per cent. Al Suwadi Power, OIFC, and Omantel lost 1.06 per cent, 1.01 per cent and 0.40 per cent respectively.