Negative sentiments drag Oman shares lower

Muscat: Negative sentiments from a relatively poor set of numbers continued to drag down the MSM30 Index, which declined 1.13 per cent to end at 5,063.76 points. The MSM Sharia Index closed at 755.87 points, down 0.50 per cent. Oman Fisheries was the most active in terms of volume while Bank Muscat was leader in terms of turnover. Bank Nizwa was the top gainer, up 2.15 per cent, while the top loser was National Gas, down 8.00 per cent.
During the session, a total of 468 trades were executed, generating turnover of OMR2.18 million with more than 10.6 million shares changing hands. Out of 30 traded securities, 5 advanced, 12 declined, and 13 remained unchanged. At the session close, Omani Investors were net buyers for OMR389,000 while Foreign Investors were net sellers for OMR286,000, followed by GCC & Arab investors for OMR103,000 worth of shares.
Financial Index retreated 0.55 per cent to finish at 7,532.99 points. Bank Nizwa, Oman Orix Leasing, NBO and Al Madina Takaful gained 2.15 per cent, 1.18 per cent, 0.96 per cent and 0.89 per cent respectively. Bank Dhofar, Bank Muscat and Bank Sohar declined 3.15 per cent, 2.17 per cent and 2.01 per cent respectively.
Industrial Index closed at 6,797.76 points, down 0.55 per cent. Gulf International Chemicals, Oman Fisheries, Al Anwar Ceramics and Raysut Cement decreased 6.49 per cent, 4.35 per cent, 1.67 per cent and 0.80 per cent respectively.
Services Index had strong loss of 1.06 per cent to end at 2,553.90 points. Al Jazeera Services, up 0.66 per cent, was the sole gainer. National Gas, OIFC, Omantel, Ooredoo and Port Services lost 8.00 per cent, 3.51 per cent, 3.33 per cent, 2.13 per cent and 1.34 per cent respectively.