Muscat bourse gains on recovery in oil prices

Muscat: Shares on the Muscat Securities Market gained with the MSM30 Index recovering 0.67 per cent to close at 5,040.43 points. The MSM Sharia Index closed at 703.10 points, up by 0.48 per cent. Al Sharqia Investment was the most active in terms of volume, while Shell Oman led in terms of turnover. The top gainer was Al Maha Petroleum, up by 5.86 per cent, while the top loser was National Gas, down by 2.11 per cent.
A total number of 628 trades were executed on Wednesday, generating a turnover of OMR3.19 million with 12.06 million shares changing hands. Out of 42 traded securities, 20 advanced, 5 declined, and 17 remained unchanged. Omani investors switched to net buyers for OMR189,000 while foreign investors were net sellers for OMR120,000 followed by GCC and Arab investors for OMR69,000 worth of shares.
Financial Index recovered to close at 7,435.85 points, up by 0.78 per cent. Bank Dhofar, Gulf Investment Services, Al Madina Takaful, Al Sharqia Investments and Al Madina Investments gained 3.37 per cent, 2.67 per cent, 2.06 per cent, 1.85 per cent and 1.82 per cent, respectively. Bank Sohar and Bank Muscat declined by 0.65 per cent and 0.51 per cent, respectively.
Industry Index closed at 6,688.27 points, up by 0.23 per cent. Oman Fisheries, Galfar Engineering and Al Jazeera Steel were up by 1.41 per cent, 1.37 per cent, and 0.36 per cent, respectively. Al Maha Ceramics, down by 1.09 per cent, was the sole sector loser.
Services Index had strong gain of 1.18 per cent to close at 2,591.83 points. Al Maha Petroleum, Renaissance Services, Shell Oman Marketing, Oman Telecommunications Company (Omantel) and Ooredoo increased by 5.86 per cent, 3.21 per cent, 1.71 per cent, 1.28 per cent and 1.17 per cent, respectively. National Gas and Oman National Engineering declined by 2.11 per cent and 1.02 per cent, respectively.