Oman shares fall on lack of support

Muscat: Shares on the Muscat Securities Market (MSM) dropped on lack of support even at lower levels. The MSM30 Index fell by 0.47 per cent to close at 5,810.96 points. The MSM Sharia Index fell by 0.94 per cent to end at 872.77 points. Galfar Engineering was most active in terms of volume while Bank Muscat was the most active in terms of turnover. Construction Material Industries was the top gainer of the day, up by 3.23 per cent while Oman Flour Mills was the top loser, down by 4.84 per cent.
A total number of 47 trades were executed on Tuesday, generating turnover of OMR5.3 million with 22.5 million shares changing hands. Out of 47 traded securities, seven advanced, 19 declined and 21 remained unchanged. At the session close, Omani Investors were net buyers for OMR1.63 million followed by GCC& Arab investors for OMR363,000 while Foreign investors were net sellers for OMR1.99 million worth of shares.
Financial Index closed at 7414.26 points, down by 0.44 per cent. Ominvest, Al Madina Investment and Global Financial Investment increased by 2.91 per cent, 1.61 per cent and 0.72 per cent respectively. National Bank of Oman, Gulf Investment Services, Bank Muscat and Al Sharqiya Investment fell by 2.78 per cent, 2.44 per cent, 1.52 per cent and 1.47 per cent respectively.
Industrial Index fell by 1.06 per cent to close at 7,167.60 points. Construction Material Industries and Galfar Engineering rode by 3.23 per cent and 0.95 per cent respectively. Oman Flour Mills, Raysut Cement, Al Maha Ceramics, Al Anwar Ceramics and Oman Cables declined by 4.84 per cent, 4.30 per cent, 3.70 per cent, 1.51 per cent and 1.40 per cent respectively.
Services Index closed at 3,254.75 points, up by 0.43 per cent. Al Maha Petroleum, and Renaissance Services gained by 3.07 per cent and 2.89 per cent respectively. OIFC, Jazeera Services and Omantel declined by 1 per cent, 0.88 per cent and 0.62 per cent respectively.