Banking stocks pull down Muscat bourse

Business Monday 28/November/2016 17:45 PM
By: Times News Service
Banking stocks pull down Muscat bourse

Muscat: Weakness in banking stocks pulled down the MSM30 Index, which closed at 5,486.22 points, down by 0.60 per cent. The MSM Sharia Index declined by 0.06 per cent to end at 848.28 points. Due to a special deal, Ominvest was the most active in terms of volume as well as turnover. Oman Fisheries, up by 1.67 per cent was the day’s top gainer while Ahli Bank was the top loser, with a loss of 4.76 per cent.
As many as 514 trades were executed on Monday, generating a turnover of OMR16.3 million with 42.7 million shares changing hands. Out of 51 traded securities, six advanced, 20 declined and 25 remained unchanged. Omani investors switched to net buyers of OMR12.6 million while foreign investors were net sellers of OMR12,500 followed by GCC and Arab investors for OMR8,000 worth of shares.
Financial Index had strong loss of 1 per cent to close at 7,186.08 points. Al Izz Bank, up by 1.49 per cent, was the only gainer. Ahli Bank, Dhofar Investment, National Bank of Oman, Gulf Investment Services and United Finance declined by 4.76 per cent, 4.15 per cent, 3.36 per cent, 2.61 per cent and 2.50 per cent, respectively.
Industrial Index closed at 7,187.43 points, down by 0.10 per cent. Oman Fisheries, Voltamp Energy and Oman Flour Mills increased by 1.67 per cent, 0.88 per cent and 0.57 per cent, respectively. National Aluminium, Al Anwar Ceramics, Dhofar Cattlefeed and Oman Cement declined by 3.50 per cent, 2.92 per cent, 1.82 per cent and 0.44 per cent, respectively.
Services Index retreated 0.24 per cent to end at 3,003.48 points. Oman National Engineering increased by 1.31 per cent to close at OMR0.155. Phoenix Power, National Gas and Al Batinah Power declined by 1.43 per cent, 1.32 per cent and 1.05 per cent, respectively.