Muscat bourse declines on falling oil prices

Muscat: Falling commodity and regional cues weighed on the MSM30 Index, which closed at 5,873.80 points, down by 0.43 per cent. The MSM Sharia Index declined by 0.55 per cent to close at 897.11 points.
Bank Sohar was the most active stock in terms of volume as well as turnover. Monday’s top gainer was Galfar Engineering, up by 1.94 per cent, while Al Jazeera Service was the top loser, down by 4.41 per cent.
As many as 720 trades were executed on Monday, generating a turnover of OMR2.57 million with 10.7 million shares changing hands. Out of 40 traded securities, two advanced, 22 declined and 16 remained unchanged. Omani investors were net buyers to the tune of OMR364,000 worth of shares, while foreign investors were net sellers at OMR238,000 followed by GCC and Arab investors, who sold shares amounting to OMR126,000.
Financial Index had strong decline of 0.84 per cent to end at 7,525.80 points. Al Sharqia Investments, Al Batinah Development, Al Izz Bank, Bank Nizwa and Oman & Emirates declined by 3.57 per cent, 3.13 per cent, 2.94 per cent, 2.60 per cent and 2.04 per cent, respectively.
Industrial Index closed at 7,622.95 points, down by 0.17 per cent. Galfar Engineering, up by 1.94 per cent, was the only gainer. Construction Materials, Al Hassan Engineering, Al Jazeera Steel, Oman Cement and National Aluminium declined by 3.03 per cent, 2.60 per cent, 1.52 per cent, 1.23 per cent and 0.97 per cent, respectively.
Services Index retreated by 0.07 per cent to close at 3,179.81 points. Al Batinah Power, up by 0.51 per cent, was the sole gainer. Al Jazeera Services, Port Services, OIFC and Oman Telecommunications Company declined by 4.41 per cent, 3.45 per cent, 0.50 per cent and 0.31 per cent, respectively.