Stocks edge down on Muscat bourse

Muscat: Shares on the Muscat bourse edged down on lack of support and a fall in oil prices. The MSM30 Index continued its negative run to close at 5,440.93 points, down by 0.17 per cent. The MSM Sharia Index declined by 0.29 per cent to close at 793.18 points. Bank Nizwa remained the most active in terms of volume while Ooredoo led in terms of turnover. Oman Fisheries was the top gainer, up by 2.07 per cent while the top loser was Oman Textiles, down by 9.57 per cent.
As many as 521 trades were executed on Monday, generating a turnover of OMR1.62 million with 8.89 million shares changing hands. Out of 42 traded securities, 4 advanced, 17 declined, and 21 remained unchanged. Foreign investors were net buyers of OMR52,000 followed by GCC and Arab investors at OMR32,000 while Omani investors switched to net sellers of OMR84,000 worth of shares.
Financial Index closed below the 8,000 mark at 7,986.32 points, down by 0.20 per cent. Oman & Emirates Holding and National Bank of Oman gained 0.82 per cent and 0.44 per cent, respectively. Gulf Investment Services, Global Financial Investment, Al Sharqia Investment, Al Batinah Investment Holding and Bank Nizwa declined by 4.55 per cent, 2.41 per cent, 1.74 per cent, 1.08 per cent and 1.08 per cent, respectively.
Industrial Index declined by 0.26 per cent to close at 7,417.54 points. Oman Fisheries, up by 2.07 per cent, was the sole gainer. Oman Textiles, Al Hassan Engineering, Galfar Engineering, Oman Cables and Gulf International Chemicals declined by 9.57 per cent, 3.85 per cent, 2.44 per cent, 1.82 per cent and 1.26 per cent, respectively.
Services Index retreated 0.31 per cent to close at 2,794.89 points. Phoenix Power gained 0.76 per cent to close at OMR0.132. National Gas, OIFC, Oman National Engineering and Al Jazeera Services declined by 7.62 per cent, 2.83 per cent, 1.32 per cent and 0.62 per cent, respectively.