Oman shares end lower on selling pressure
March 7, 2018 | 5:06 PM
by United Securities
Muscat Securities Market. - Times file picture

Muscat: Selling pressure on telecom stocks led the MSM30Index to close at 4928.10 points, down by 0.39 per cent. MSM Sharia Index ended at 701.32 points, down by 0.42 per cent. DIDIC was the most active in terms of volume while Omantel was the most active in terms of turnover. National Aluminium continued to remain as the top gainer, up 4.35 per cent, while the top loser was United Power, down 8.89 per cent.

A total number of 550 trades were executed on Wednesday, generating turnover of OMR2.82 million with 9.84 million shares changing hands. Out of 37 traded securities, 3 advanced, 16 declined and 18 remained unchanged. At the session close, foreign investors were net buyers OMR259,000 while GCC & Arab investors were net sellers for OMR152,000 followed by Omani investors for OMR107,000 worth of shares.

Financial Index was marginally down by 0.06 per cent at 7,332.26 points. Bank Sohar was up by 0.65 per cent. Al Batinah Development Holding, Taageer Finance, Gulf Investment Services, Al Madina Takaful, and Al Anwar Holding were down by 2.30 per cent, 1.63 per cent, 1.10 per cent, 1.09 per cent, and 0.65 per cent respectively.

Industrial Index fell by 0.61 per cent to finish at 6,789.67 points. National Aluminium and Gulf International Chemicals up by 64.35 per cent and 2.16 per cent respectively. Al Maha Ceramics, Galfar Engineering, Al Anwar Ceramics, Oman Fisheries, and Oman Cement were down by 2.30 per cent, 2.25 per cent, 2.24 per cent, 1.46 per cent, and 1.02 per cent respectively.

Services Index down by 0.49 per cent to end at 2,594.19 points. United Power, Oman Telecom, Ooredoo, Al Jazeera Services, and National Gas were down by 8.89 per cent, 3.29 per cent, 1.21 per cent, 1.13 per cent, and 0.66 per cent respectively.

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