Muscat bourse recovers on local buying support

Muscat: Shares on the Muscat Securities Market (MSM) edged up on better support from retail investors. The MSM 30 Index closed higher at 5,395.45 points, up by 0.14 per cent. The MSM Sharia Index remained unchanged and closed at 833.76 points.
Bank Sohar was the most active in terms of volume as well as turnover. United Power, up by 9.95 per cent, remained the top gainer while Jazeera Steel Products was the top loser, down by 4.46 per cent.
As many as 832 trades were executed on Wednesday, generating turnover of OMR2.86 million with 16.73 million shares changing hands. Out of 38 traded securities, 11 advanced, 18 declined and nine remained unchanged. Omani investors were net buyers for OMR198,000 followed by GCC and Arab investors for OMR10,000 while foreign investors were net sellers for OMR207,000 worth of shares.
Financial Index declined by 0.16 per cent to close at 6,723.70 points. BankDhofar, Oman& Emirates and Al Madina Investment increased by 3.76 per cent, 1.85 per cent and 1.59 per cent, respectively. AlIzz Islamic Bank, Al Madina Takaful, Bank Nizwa and Dhofar International Development declined by 3.03 per cent, 2.70 per cent, 2.67 per cent and 2.63 per cent, respectively.
Industrial Index rose by 0.03 per cent to close at 6,677.81 points. Galfar Engineering, Oman Textile Holding and Gulf International Chemicals increased by 6.25 per cent,1.06 per cent and 0.69 per cent, respectively. Al Jazeera Steeel Product, Oman Fisheries and Al Anwar Ceramic declined by 4.46 per cent, 3.33 per cent and 0.33 per cent, respectively.
Services Index was up by 0.25 per cent to close at 3001.28 points. United Power, Omantel, Jazeira Services and Al Suwadi Power increased by 9.95 per cent, 2.74 per cent, 2.26 per cent and 0.49 per cent, respectively. Renaissance Services, OIFC and Port Services Corp declined by 1.97 per cent, 1.52 per cent and 0.75 per cent, respectively.