Muscat bourse recovers on selective buying

Muscat: Selective buying on index heavyweights pushed the MSM30 Index to end higher at 5,083.92 points, up by 0.33 per cent. The MSM Sharia Index ended at 730.57 points, up by 0.54 per cent. Al Anwar Holding was the most active regarding volume as well as turnover. The top gainer was Oman Telecommunications Company, up by 5.17 per cent, while the top loser was Oman Qatar Insurance, with a loss of 3.33 per cent.
A total number of 512 trades were executed today, generating a turnover of OMR2.24 million with 6.38 million shares changing hands. Out of 35 traded securities, 6 advanced, 9 declined, and 20 remained unchanged. Omani investors switched to net buyers for OMR419,000 while GCC and Arab investors were net sellers for OMR406,000 followed by foreign investors for OMR13,000 worth of shares.
Financial Index was down by 0.25 per cent to close at 7,415.18 points. Oman & Emirates and Gulf Investment Services increased by 2.50 per cent and 1.23 per cent, respectively. Oman Qatar Insurance, Bank Sohar , Bank Muscat and Al Sharqiya Investment declined by 3.33 per cent, 1.88 per cent, 1.82 per cent and 0.52 per cent, respectively
Industry Index closed at 6,798.84 points, marginally down by 0.07 per cent. Gulf International Chemicals was the only gainer and was up by 0.49 per cent to close at OMR0.206. Galfar Engineering and Oman Ceramic fell by 1.23 per cent and 0.48 per cent, respectively.
Services Index was up by 0.97 per cent to close at 2,588.83 points. Omantel, Renaissance Services and OIFC increased by 5.17 per cent, 4.12 per cent and 0.70 per cent, respectively. Phoenix Power and Al Batinah Power declined by 0.74 per cent and 0.70 per cent, respectively.