Muscat bourse recovers on scattered support

Muscat: Shares on the Muscat bourse recovered marginally on scattered support from retail investors. The MSM 30 Index ended on a positive note after six consecutive losses to close at 5820.26 points, up by 0.16 per cent. The MSM Sharia Index marginally grew by 0.05 per cent to close at 873.17 points.
Galfar Engineering was most active in terms of volume while Bank Muscat was the most active in terms of turnover. Renaissance Services was the top gainer of the day, up by 3.51 per cent, while Gulf Investment Services was the top loser, down by 4.17 per cent.
As many as 499 trades were executed on Wednesday, generating turnover of OMR2.02 million with 8.03 million shares changing hands. Out of 38 traded securities, nine advanced, five declined and 24 remained unchanged. Omani investors were net buyers to the tune of OMR432,000 worth of shares followed by GCC and Arab investors at OMR121,000. Foreign investors, who were net sellers, sold shares amounting to OMR554,000.
Financial Index to close at 7433.54 points, up by 0.26 per cent. HSBC Bank Oman and Al Anwar Holding increased by 1.94 per cent and 1.74 per cent, respectively. Gulf Investment Services was the loser and was down by 4.17 per cent to close at OMR0.115.
Industrial Index gained by 0.08 per cent to close at 7,173.23 points. Oman Chlorine, Raysut Cement, Gulf International Chemicals and Oman Cables increased by 2.88 per cent, 0.41 per cent, 0.40 per cent and 0.28 per cent, respectively. Galfar Engineering was the only loser in the sector and was down by 0.94 per cent to close at OMR0.105.
Services Index closed at 3,260.47 points, up by 0.18 per cent. Renaissance Services and Oman Telecommunications Company increased by 3.51 per cent and 0.94 per cent, respectively. Port Services, Oreedoo Oman and Al Maha Petroleum declined by 3.61 per cent, 1.06 per cent and 0.33 per cent, respectively.