Muscat bourse recovers on better support

Muscat: Boosted by strength in financials, the MSM30 Index closed at 5,066.49 points, up by 0.32 per cent. The MSM Sharia Index declined by 0.21 per cent to close at 707.62 points. Al Izz Bank was the most active in terms of volume while Bank Muscat led in terms of turnover. The top gainer was United Finance, up by 3.97 per cent, while the top loser was National Life, down by 3.13 per cent.
A total number of 403 trades were executed on Wednesday, generating a turnover of OMR1.35 million with 6.35 million shares changing hands. Out of 32 traded securities, 11 advanced, 6 declined, and 15 remained unchanged. Omani investors were net buyers for OMR133,000 while foreign investors were net sellers for OMR82,000 followed by GCC and Arab investors for OMR51,000 worth of shares.
Financial Index advanced 0.71 per cent to close at 7,421.26 points. United Finance, HSBC Bank, Bank Sohar, Al Sharqia Investments and Taageer Finance increased by 3.97 per cent, 3.33 per cent, 3.27 per cent, 1.89 per cent and 1.71 per cent, respectively. National Life and Gulf Investment Services declined by 3.13 per cent and 1.32 per cent, respectively.
Industry Index retreated 0.24 per cent to close at 6,759.81 points. Oman Fisheries, Galfar Engineering and Al Anwar Ceramics declined by 1.34 per cent, 1.27 per cent and 0.79 per cent, respectively.
Services Index was stable at 2,572.72 points, down by 0.02 per cent. Renaissance Services, OIFC and Omantel gained 1.08 per cent, 0.72 per cent and 0.42 per cent, respectively. Ooredoo, down by 1.15 per cent, was the sole sector loser.