Oman’s share index falls on selling pressure

Muscat: Selling pressure in Ominvest and dividend adjustment on Oreedoo Oman led the MSM30 Index to close at 4947.40 points, down by 0.81 per cent. MSM Sharia Index ended at 707.21 points, marginally down by 0.26. Ominvest was the most active in terms of volume while Salalah Port Services was the most active in terms of turnover. National Aluminium was the top gainer, up 6.15 per cent, while the top loser was Oreedoo Oman, down 6.42 per cent.
A total number of 521 trades were executed on Tuesday, generating turnover of OMR3.13 million with 10.30 million shares changing hands. Out of 44 traded securities, 6 advanced, 13 declined and 25 remained unchanged. At the session close, foreign investors were net buyers for OMR282,000 while Omani investors were net sellers for OMR255,000 followed by GCC & Arab investors for OMR27,000 worth of shares.
Financial Index fell by 0.42 per cent at 7336.37 points. Oman & Emirates, Gulf Investment Services and Ahlia Insurance increased by 2,65 per cent, 1.11 per cent and 0.56 per cent respectively. Ominvest, Al Madina Takaful, Al Sharqiya Investment Holding and Oman Qatar Insurance declined by 4.88 per cent, 1.08 per cent, 0.87 per cent and 0.70 per cent respectively.
Industrial Index fell by 0.12 per cent to finish at 6831.14 points. National Aluminium was the only gainer and was up by 6.15 per cent to close at OMR0.276. Al Hassan Engineering, Oman Refreshment, Al Maha Ceramic and Oman Flour Mills declined by 5.71 per cent, 2.05 per cent, 0.65 per cent and 0.52 per cent respectively.
Services Index down by 0.60 per cent to end at 2606.96 points. National Gas and Renaissance Services increased by 1.00 per cent and 0.63 per cent respectively. Oreedoo Oman, Muscat Desalination and Salaah Port Serivces declined by 6.42 per cent, 0.66 per cent and 0.63 per cent respectively.