Oman shares end lower on dull trading volumes

Muscat: Huge impairment provisions reported by index heavyweights led to dull trading volumes in the MSM30 Index, which closed at 5,349.53 points, down 0.29 per cent. The MSM Sharia Index ended at 826.34 points, down 0.68 per cent. Bank Muscat was the most active in terms of volume and turnover. Oman Textiles was Monday’s top gainer, up 2.56 per cent, while Galfar Engineering was the top loser, with loss of 9.52 per cent.
As many as 553 trades were executed today, generating turnover of OMR1.92 million with 8.8 million shares changing hands. Out of 36 traded securities, six advanced, 10 declined and 20 remained unchanged. At the session close, Foreign Investors were net buyers for OMR82,000 followed by Omani Investors for OMR22,000 while GCC & Arab Investors switched to net sellers for OMR104,000 worth of shares.
Financial Index had marginal gain of 0.05 per cent to close at 6,659.37 points. United Finance, Ominvest, Gulf Investment Services, Al Sharqia Investments and Bank Sohar increased 2.46 per cent, 2.21 per cent, 1.09 per cent, 0.96 per cent and 0.64 per cent respectively. Al Anwar Holding and Bank Nizwa declined 1.70 per cent and 1.39 per cent respectively.
Industrial Index had heavy loss of 1.28 per cent to close at 6,535.99 points. Oman Textile closed at OMR0.400, up 2.56 per cent. Galfar Engineering, Al Anwar Ceramics, Al Jazeera Steel and Al Maha Ceramics declined 9.52 per cent, 6.04 per cent 3.45 per cent and 1.44 per cent respectively.
Services Index ended at 2,959.32 points, down 0.74 per cent. Renaissance Services, ACWA Power, Port Services and Omantel declined 7.19 per cent, 4.27 per cent, 2.40 per cent and 1.33 per cent respectively.