Oman share index ends lower

Business Wednesday 07/June/2017 14:48 PM
By: Times News Service
Oman share index ends lower

Muscat: Weakness in the index large capitalisation shares dragged down the MSM30 Index by 0.64 per cent to end at 5,377.17 points. The MSM Sharia Index retreated 0.89 per cent to close at 790.29 points. Bank Nizwa was the most active in terms of volume while Al Madina Takaful was most active in terms of turnover. The top gainer was United Finance, up 8.33 per cent while Financial Services was the top loser, with a loss of 41.67 per cent.
A total number of 585 trades were executed on Wednesday, generating a turnover of OMR2.76 million with 17.42 million shares changing hands. Out of 38 traded securities, 3 advanced, 24 declined, and 11 remained unchanged. At the session close, Omani Investors switched to net buyers for OMR597,000 followed by GCC & Arab Investors for OMR25,000 while Foreign Investors were net sellers for OMR622,000 worth of shares.
Financial Index declined 0.65 per cent to close at 8,028.10 points. United Finance and Al Anwar Holding increased 8.33 per cent and 0.49 per cent respectively. Financial Services, Al Izz Bank, Bank Nizwa, Al Sharqia Investments and Al Madina Takaful declined 41.67 per cent, 4.49 per cent, 2.04 per cent, 1.75 per cent and 1.69 per cent respectively.
Industrial Index had sharp loss of 0.72 per cent and ended at 7,250.48 points. Oman Fisheries, Al Maha Ceramics, Al Anwar Ceramics, Galfar Engineering and Raysut Cement slid 3.33 per cent, 2.30 per cent, 2.07 per cent, 1.22 per cent and 0.95 per cent respectively.
Services Index closed at 2,729.07 points, a loss of 0.39 per cent. Al Jazeera Services, up 0.64 per cent, was the sole sector gainer. Phoenix Power, OIFC, Ooredoo, Port Services and Omantel declined 2.31 per cent, 1.50 per cent, 0.82 per cent, 0.45 per cent and 0.41 per cent respectively.