Oman share index rises on better financial results

Business Tuesday 26/April/2016 16:48 PM
By: Times News Service
Oman share index rises on better financial results

Muscat: Sustained momentum in financials resulted in the MSM30 Index gaining 0.58 per cent to close at 5,960.56 points, its highest level in over six months. The MSM Sharia Index ended at 878.26 points, up 0.09 per cent. Galfar Engineering was the most active in terms of volume as well as turnover. HSBC Bank remained the top gainer, with gain of 8.47 per cent while Construction Materials, which declined, 5.41 per cent, was the top loser.
As many as 2,224 trades were executed on Tuesday, generating turnover of OMR10.1 million with 52.6 million shares changing hands. Out of 54 traded securities, 14 advanced, 18 declined and 22 remained unchanged. GCC and Arab investors were net buyers for OMR406,000 followed by Omani Investors for OMR396,000 while Foreign Investors remained net sellers for OMR802,000.
Financial Index continued its hot streak to close at 7,789.40 points, up 1.45 per cent. HSBC Bank, Al Batinah Development, Ominvest, Al Sharqia Investments and Al Anwar Holding increased 8.47 per cent, 7.53 per cent, 4.18 per cent, 3.76 per cent and 2.63 per cent respectively. Al Izz Bank, Takaful Oman, Bank Sohar, Oman Orix Leasing and Gulf Investment Services declined 1.67 per cent, 1.56 per cent, 1.10 per cent, 0.85 per cent and 0.76 per cent respectively.
Industrial Index retreated 0.06 per cent to end at 7,175.04 points. Oman Flour Mill and Raysut Cement gained 2.83 per cent and 0.44 per cent respectively. Construction Materials, Oman Fisheries, Al Jazeera Steel, Galfar Engineering and Gulf International Chemicals declined 5.41 per cent, 1.43 per cent, 1.03 per cent, 0.85 per cent and 0.77 per cent respectively.
Services Index closed at 3,245.56 points, marginally up 0.05 per cent. Port Services, Omantel and Shell Oman Marketing increased 5.02 per cent, 0.63 per cent and 0.26 per cent respectively. National Gas, Al Jazeera Services, OIFC and Sembcorp Salalah declined 1.69 per cent, 1.62 per cent, 0.91 per cent and 0.39 per cent respectively.