Foreign institutional selling pulls down MSM index

Business Tuesday 26/July/2016 17:56 PM
By: Times News Service
Foreign institutional selling pulls down MSM index

Muscat: Active selling by foreigners in index heavyweights led to improved turnover with the MSM30 Index closing at 5,810.49 points, down by 0.03 per cent. The MSM Sharia Index gained 0.22 per cent to end at 887.01 points.
Bank Muscat remained most active in terms of volume as well as turnover. Al Anwar Holding was top gainer on Tuesday, up by 3.19 per cent while top loser was Sohar Power, down by 2.68 per cent.
As many as 990 trades were executed on Tuesday, generating turnover of OMR3.8 million with 16.4 million shares changing hands. Out of 46 traded securities, 15 advanced, six declined and 25 remained unchanged.
Omani investors were net buyers to the tune of OMR1.57 million worth of shares, while foreign investors were net sellers at OMR1.56 million followed by GCC and Arab investors, who sold shares amounting to OMR19,000.
Financial Index had marginal gain of 0.10 per cent to close at 7,434.19 points. Al Anwar Holding, Al Izz Bank, Al Sharqia Investments, Al Madina Takaful and Al Batinah Development and Investment gained 3.19 per cent, 1.75 per cent, 1.43 per cent, 1.39 per cent and 1.14 per cent, respectively. Bank Sohar, HSBC Bank and NBO declined by 1.07 per cent, 1.01 per cent and 0.39 per cent, respectively.
Industrial Index advanced by 0.60 per cent to end at 7,445.20 points. Galfar Engineering, Voltamp Energy, Oman Flour Mills and Al Jazeera Steel gained 2.91 per cent, 1.78 per cent, 1.72 per cent and 0.81 per cent, respectively.
Services Index closed at 3,183.21 points, down by 0.30 per cent. Al Jazeera Services, Oman Telecommunications Company and Port Services increased by 0.94 per cent, 0.92 per cent and 0.83 per cent, respectively. Sohar Power, Al Suwadi Power and Phoenix Power declined by 2.68 per cent, 2.06 per cent and 1.92 per cent, respectively.