Volumes remain subdued on Muscat bourse

Business Wednesday 26/October/2016 17:24 PM
By: Times News Service
Volumes remain subdued on Muscat bourse

Muscat: Market volumes remain subdued and selling in financials dragged down the MSM 30 Index by 0.17 per cent to 5,513.70 points. The MSM Shariah Index decreased 0.15 per cent to end at 843.37 points.
HSBC Bank was the most active in terms of volume while Ominvest led in terms of turnover. With rise of 2.51 per cent, Sembcorp Salalah was Wednesday’s top gainer, while Oman Education & Training was the top loser, down 5.66 per cent.
As many as 368 trades were executed on Wednesday, generating a turnover of OMR1.9 million with 8.18 million shares changing hands. Out of 34 traded securities, 6 advanced, 14 declined and 14 remained unchanged.
At the close of the session, Omani investors remained net buyers to the tune of OM177,000, while foreign investors continued to be net sellers at OMR119,000 followed by GCC and Arab investors, who sold stocks amounting to OMR58,000.
Financial Index ended negatively at 7,162.96 points, down 0.36 per cent. Takaful Oman and Al Izz Bank gained 1.99 per cent and 1.59 per cent respectively. Taageer Finance, HSBC Bank, Al Sharqia Investment, Ominvest and Gulf Investment Services declined 2.70 per cent, 1.74 per cent, 1.67 per cent, 1.22 per cent and 0.93 per cent respectively.
Industrial Index declined 0.19 per cent to close at 7,085.33 points. National Aluminium, up 1.65 per cent, was the only gainer. Al Hassan Engineering, Galfar Engineering, Raysut Cement and Al Anwar Ceramics declined 1.79 per cent, 1.04 per cent, 0.67 per cent and 0.62 per cent respectively.
Services Index gained 0.25 per cent to finish at 3,030.37 points. Sembcorp Salalah and Phoenix Power increased 2.51 per cent and 0.70 per cent respectively. Oman Education & Training, Oman National Engineering, Port Services and Ooredoo decreased 5.66 per cent, 3.33 per cent, 1.67 per cent and 0.61 per cent respectively.