Oman shares end higher on high volumes

Muscat: Supported by higher turnover and an uptick in banking and telecom sectors, the MSM30 Index closed at 5,380.03 points, a gain of 0.57 per cent. The MSM Sharia Index increased 0.16 per cent to close at 827.67 points. Galfar Engineering was the most active in terms of volume while Bank Muscat led in terms of turnover. Global Financial Investment was the top gainer, up 4.55 per cent, while Al Hassan Engineering was top loser, with loss of 5.63 per cent.
As many as 1,180 trades were executed on Tuesday, generating turnover of OMR4.1 million with 24.9 million shares changing hands. Out of 40 traded securities, 18 advanced, eight declined and 14 remained unchanged. Omani investors were net buyers for OMR1.27 million followed by GCC and Arab investors for OMR54,000 while foreign investors switched to net sellers for OMR1.32 million worth of shares.
Financial Index advanced 0.65 per cent to close at 6,702.88 points. Global Financial Investment, Bank Sohar, Al Sharqia Investment, Bank Nizwa and Bank Muscat increased 4.55 per cent, 1.91 per cent, 1.90 per cent, 1.41 per cent and 1.35 per cent respectively. Al Izz Bank and Al Madina Investments declined 3.13 per cent and 1.61 per cent respectively.
Industrial Index retreated 0.16 per cent to end the session at 6,525.53 points. Al Jazeera Steel up 0.71 per cent was the only gainer. Al Hassan Engineering, Oman Textiles, Galfar Engineering and Oman Cables declined 5.63 per cent, 4.50 per cent, 1.75 per cent and 0.33 per cent respectively.
Services Index closed at 2,975.10 points, up 0.53 per cent. Al Jazeera Services, Port Services, OIFC, Sembcorp Salalah and Renaissance Services gained 3.32 per cent, 2.46 per cent, 2.09 per cent, 2.04 per cent and 1.55 per cent respectively. National Gas and ACWA Power declined 5.49 per cent and 0.64 per cent respectively.