Oman shares recover on strong buying activity
July 17, 2017 | 5:07 PM
by United Securities
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Muscat: Shares on the Muscat bourse recovered amid better support at lower levels. The MSM30 Index ended on a stable note at 5,073.29 points, up 0.19 per cent. The MSM Sharia Index closed at 756.05 points, up 0.02 per cent. Al Anwar Ceramics was the most active in terms of volume while Bank Muscat was leader in terms of turnover. Up 8.18 per cent, Oman Fisheries was the top gainer while the top loser continued to be National Gas, down 2.48 per cent.

During the session, a total of 798 trades were executed, generating turnover of OMR2.84 million with more than 12.8 million shares changing hands. Out of 35 traded securities, 10 advanced, 7 declined, and 18 remained unchanged. At the session close, Omani Investors were net buyers for OMR491,000 followed by GCC & Arab investors for OMR189,000 while Foreign Investors were net sellers for OMR680,000 worth of shares.

Financial Index advanced 0.63 per cent to finish at 7,580.58 points. Ahli Bank, Al Madina Investments, Al Anwar Holding, Al Izz Bank and Al Madina Takaful gained 4.17 per cent, 3.17 per cent, 1.34 per cent, 1.27 per cent and 0.88 per cent respectively. Oman & Emirates and Bank Sohar declined 1.96 per cent and 0.68 per cent respectively.

Industrial Index had strong gains of 1.11 per cent to close at 6,873.43 points. Oman Fisheries, Galfar Engineering, Al Anwar Ceramics and Voltamp Energy increased 8.18 per cent, 5.63 per cent, 2.54 per cent and 0.83 per cent respectively.

Services Index ended at 2,543.66 points, down 0.40 per cent. OIFC, up 1.21 per cent, was the sole gainer. National Gas, ACWA Power Barka, Ooredoo, Omantel and Al Suwadi Power lost 2.48 per cent, 1.50 per cent, 1.30 per cent, 1.29 per cent and 1.23 per cent respectively.

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