Selling pressure drags Oman shares marginally lower

Muscat: Shares on the Muscat bourse reacted on selling pressure. The MSM30 Index remained stable at 5,170.23 points, ending the session with marginal decline of 0.02 per cent. The MSM Sharia Index closed at 765.97 points, down 0.10 per cent. Oman Fisheries was the most active in terms of both volume while Ooredoo led in terms of turnover. Oman National Engineering remained the top gainer, up 6.08 per cent, while the top loser was United Finance, which lost 8.57 per cent.
During the session, a total of 446 trades were executed, generating turnover of OMR2.48 million with more than 12.05 million shares changing hands. Out of 39 traded securities, 7 advanced, 11 declined, and 21 remained unchanged. At the session close, Foreign Investors remained net sellers for OMR667,000 while Omani Investors were net buyers for OMR425,000, followed by GCC & Arab investors for OMR242,000 worth of shares.
Financial Index ended on a flat note at 7,693.25 points, up 0.02 per cent. Bank Sohar, Oman & Emirates Holding, Al Madina Takaful and NBO gained 1.37 per cent, 0.95 per cent, 0.88 per cent, and 0.47 per cent respectively. United Finance, Muscat Finance, Al Madina Investments, Al Anwar Holding and Bank Muscat declined 8.57 per cent, 1.69 per cent, 1.49 per cent, 1.27 per cent and 1.06 per cent respectively.
Industrial Index had strong loss of 0.58 per cent to close at 6,933.82 points. Oman Cement, up 0.91 per cent was the sole sector gainer. National Aluminium, Al Anwar Ceramics, Oman Fisheries and Galfar Engineering declined 5.70 per cent, 3.85 per cent, 2.31 per cent and 1.35 per cent respectively.
Services Index declined 0.41 per cent to finish at 2,603.40 points. Oman National Engineering gained 6.08 per cent while Al Suwadi Power lost 4.71 per cent respectively.