Oman shares open week on a negative note

Muscat: Muscat bourse opened the week on a negative note with the MSM 30 index edging down by 0.14 per cent to 5,427.89 points. The MSM Sharia Index ended at 799.33 points, up by 0.09 per cent. Al Izz Bank was the most active in terms of volume while Raysut Cement led in terms of turnover. Al Izz Bank, which surged ahead by 4.71 per cent, was the top gainer while Gulf Investment Services was the top loser, down by 3.19 per cent.
As many as 602 trades were executed on Sunday, generating a turnover of OMR3.67 million with 15.17 million shares changing hands. Out of 36 traded securities, 5 advanced, 15 declined, and 16 remained unchanged.
Omani investors switched to net buyers of OMR354,000 worth of shares followed by GCC and Arab investors for OMR49,000 while foreign investors were net sellers to the tune of OMR403,000 worth of shares.
Financial Index closed at 8,103.74 points, down by 0.11 per cent. Al Izz Bank, Al Batinah Investment, Bank Nizwa and Bank Muscat gained 4.71 per cent, 3.30 per cent, 1.02 per cent and 0.50 per cent, respectively.
Gulf Investment Services, Al Sharqia Investments, Al Madina Takaful, Al Anwar Holding and Oman & Emirates Holding declined by 3.19 per cent, 1.71 per cent, 1.65 per cent, 0.96 per cent and 0.89 per cent, respectively.
Industrial Index declined by 0.16 per cent to close at 7,310.47 points. Oman Cables, up by 0.62 per cent, was the only sector gainer. Oman Fisheries and Raysut Cement declined by 1.95 per cent, and 0.94 per cent, respectively.
Services Index retreated 0.40 per cent to close at 2,748.09 points. There were no gainers in the sector. Port Services, National Gas, Oman National Engineering, Phoenix Power and Al Jazeera Services declined by 2.65 per cent, 2.56 per cent, 2.31 per cent, 2.26 per cent and 1.25 per cent, respectively.