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Oman shares decline on weakness in financial stocks
January 15, 2018 | 4:58 PM
by United Securities
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Muscat: Weakness in financial stocks dragged down the MSM30 Index by 0.40 per cent to end the session at 5,069.25 points. The MSM Sharia Index closed at 715.00 points, down 0.39 per cent. Oman Fisheries was the most active in terms of volume as well as turnover. Renaissance Services was the top gainer, up 2.43 per cent, while Al Madina Takaful, down 6.60 per cent was the top loser.

A total number of 738 trades were executed on Monday, generating a turnover of OMR2.35 million with 14.01 million shares changing hands. Out of 33 traded securities, 5 advanced, 15 declined, and 13 remained unchanged. At the session close, Foreign Investors were net buyers for OMR135,000 followed by GCC & Arab Investors for OMR30,000 while Omani Investors remained net sellers for OMR165,000 worth of shares.

Financial Index had loss of 0.57 per cent to close at 7,494.63 points. NBO and Bank Sohar gained 1.02 per cent and 0.66 per cent respectively. Al Madina Takaful, Gulf Investment Services, Oman & Emirates Holding, Taageer Finance and Bank Muscat declined 6.60 per cent, 6.41 per cent, 4.71 per cent, 2.44 per cent and 1.49 per cent respectively.

Industrial Index ended at 6,794.70 points, down 0.20 per cent. Galfar Engineering, Al Anwar Ceramics and Oman Fisheries decreased 1.37 per cent, 0.81 per cent and 0.68 per cent respectively.



Services Index declined 0.08 per cent to finish at 2,627.74 points. Renaissance Services, MCDE and Al Maha Petroleum gained 2.43 per cent, 1.25 per cent and 0.50 per cent respectively. Omantel, OIFC, National Gas, Phoenix Power and Oman National Engineering decreased 1.72 per cent, 1.47 per cent, 1.02 per cent, 0.74 per cent and 0.51 per cent respectively.

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