Muscat bourse edges up

Muscat: Due to technical issues, the Muscat Securities Market (MSM) started trading at 12.15pm and extended trading time by one hour. Despite that, trading volumes were very low and only 14 stocks were traded. The MSM 30 Index ended at 5,899.14 points, up by 0.08 per cent, while MSM Sharia Index gained 0.18 per cent to close at 902.10 points.
Galfar Engineering was the most active stock in terms of volume, while Bank Muscat led in terms of turnover. Sunday’s top gainer was Bank Nizwa, up by 2.67 per cent, while Galfar Engineering was the top loser, down by 0.96 per cent.
As many as 83 trades were executed on Sunday, generating turnover of OMR285,000 with 1.1 million shares changing hands. Out of 14 traded securities, three advanced, three declined and eight remained unchanged. Omani investors were net buyers to the tune of OMR41,000 worth of shares followed by foreign investors at OMR12,000. Arab and GCC investors, who switched to net sellers, sold shares amounting to OMR53,000.
Financial Index gained 0.20 per cent to close at 7,589.78 points. Bank Nizwa, up by 2.67 per cent, was the only sector mover. Industrial Index declined by 0.13 per cent to close at 7,636.31 points. Galfar Engineering and Al Jazeera Steel declined by 0.96 per cent and 0.38 per cent, respectively.
Services Index ended at 3,182.12 points, up by 0.07 per cent. Al Jazeera Services and Renaissance Services increased by 1.49 per cent and 0.76 per cent, respectively. Oman Telecommunications Company, down by 0.30 per cent, was the only sector loser.