Oman shares fall on regional cues

Muscat: Amid Brexit induced sell-off that affected regional indices, the MSM30 Index was a relative outperformer with loss of 0.60 per cent to close at 5,762.21 points. The MSM Sharia Index closed at 879.20 points, down 0.66 per cent. Bank Nizwa was the most active in terms of volume while Bank Muscat led in terms of turnover. Omantel was the only gainer, up 0.31 per cent while Oman Hotels & Tourism was the top loser, down 9.88 per cent.
A total number of 762 trades were executed on Sunday, generating turnover of OMR2.4 million with 14.8 million shares changing hands. Out of 41 traded securities, one advanced, 23 declined and 17 remained unchanged. At the session close, Omani investors remained net buyers for OMR108,000 followed by GCC & Arab Investors for OMR98,000 while foreign investors were net sellers for OMR206,000 worth of shares.
Financial Index retreated 0.91 per cent to end at 7,218.43 points. Al Anwar Holding, Al Madina Takaful, Al Izz Bank, Bank Nizwa and Al Sharqia Investments declined 4.52 per cent, 4.05 per cent, 3.39 per cent, 2.63 per cent and 2.31 per cent respectively.
Industrial Index had strong loss of 1.03 per cent to close at 7,205.57 points. Al Hassan Engineering, Al Jazeera Steel, Galfar Engineering, Al Maha Ceramics and Raysut Cement decreased 5.00 per cent, 4.57 per cent, 3.70 per cent, 2.22 per cent and 1.88 per cent respectively.
Services Index ended at 3,222.31 points, down 0.40 per cent. Omantel, up 0.31 per cent was the only market gainer. Oman Hotels, Renaissance Services, OIFC, National Gas and Phoenix Power decreased 9.88 per cent, 3.78 per cent, 1.02 per cent, 0.77 per cent and 0.64 per cent respectively.