Oman stocks gain on local support

Muscat: Shares on the Muscat Securities Market (MSM) edged up on local support at lower levels. MSM30 Index remained stable with lower than average turnover to close at 5,365.29 points, up 0.14 per cent. The MSM Shariah Index also advanced 0.32 per cent to close at 832.00 points.
Renaissance Services was the most active in terms of volume and turnover. Top gainer was Al Sharqia Investment, up by 4 per cent, while Galfar Engineering was the top loser, with loss of 8.70 per cent.
As many as 696 trades were executed on Sunday, generating a turnover of OMR2.48 million with 12.9 million shares changing hands. Out of 44 traded securities, 11 advanced, 7 declined and 26 remained unchanged. At the close of the session, GCC and Arab investors were net buyers to the tune of OMR288,000 worth of shares followed by foreign investors at OMR53,000, while Omani investors, who were net sellers, sold shares amounting to OMR341,000.
Financial Index gained 0.42 per cent to close at 6,656.09 points. Al Sharqia Investments, DIDIC, Al Anwar Holding, United Finance and NBO increased 4 per cent, 3.78 per cent, 1.73 per cent, 1.67 per cent and 1.48 per cent respectively. Takaful Oman, Bank Sohar and Al Madina Investments declined 2.78 per cent, 1.89 per cent and 1.59 per cent respectively.
Industrial Index closed negatively at 6,620.90 points, down 0.45 per cent. Oman Flour Mills and Oman Textiles advanced 3.92 per cent and 2.63 per cent respectively. Galfar Engineering and Gulf International Chemicals declined by 8.70 per cent and 0.69 per cent respectively.
Services Index had marginal loss of 0.09 per cent to close at 2,981.41 points. Ooredoo, up 0.61 per cent was the sole gainer. Port Services and Renaissance Services declined 5.30 per cent and 2.11 per cent respectively.