Across the board selling pressure drags Oman shares lower

Business Wednesday 21/June/2017 15:45 PM
By: Times News Service
Across the board selling pressure drags Oman shares lower

Muscat: Selling pressure across the board led the MSM30 index to plunge by 1.42 per cent to close at 5195.124 points. The MSM Sharia Index was down by 0.75 per cent to end at 764.31 points. Bank Muscat was the most active in terms of volume as well as turnover. The top gainer was Oman National Engineering , up 3.28 per cent, while Bank Dhofar was the top loser, down 4.35 per cent.
A total number of 785 trades were executed on Wednesday, generating a turnover of OMR5.53 million with 21.82 million shares changing hands. Out of 36 traded securities, 6 advanced, 23 declined, and 7 remained unchanged. At the session close, GCC& Arab Investors were net buyers for OMR133,000 followed by Omani Investors for OMR27,000 while Foreign Investors were net sellers for OMR160,000 worth of shares.
Financial Index fell by 1.49 per cent to close at 7716.03 points. Ahli Bank and United Finance gained 1.71 per cent and 0.78 per cent respectively. Bank Dhofar, HSBC Bank Oman , National Bank of Oman and Bank Muscat decreased by 4.35 per cent, 3.91 per cent, 2.78 per cent and 2.63 per cent respectively.
Industrial Index closed at 7,127.75 points, down 0.35 per cent. Al Hassan Engineering was the only gainer in the sector and was up by 2.08 per cent to close at OMR0.049. Construction Material Industries, National Aluminium, Oman Fisheries and Galfar Engineering declined by 3.33 per cent, 3.23 per cent, 2.00 per cent and 1.30 per cent respectively.
Services Index fell by 1.03 per cent to finish at 2,598.78 points. Oman National Engineering was the only gainer and was up by 3.28 per cent to close at OMR0.126. OIFC , Omantel , Sembcorp Salalah and Pheonix Power declined by 3.70 per cent, 2.75 per cent, 2.56 per cent and 2.52 per cent respectively. Indian shares decline
Indian markets was at a loss for direction for the second day on Wednesday as the Sensex moved in a tight range and ended with a negative bias due to sustained capital outflows amid subdued global cues.
In contrast, broader markets — small-cap and mid-cap indices — ran up.
The Sensex ended lower by 13.89 points, or 0.04 per cent, at 31,283.64. The gauge had lost 14.04 points in the previous session.
The NSE Nifty closed at 9,633.60, down 19.90 points, or 0.21 per cent. It moved between 9,608.60 and 9,650.45.
Airlines stocks jumped on expectations of lower jet fuel prices. SpiceJet and Jet Airways went up by 4.03 per cent and 2.99 per cent, respectively, while InterGlobe Aviation, the parent of IndiGo, climbed 1.51 per cent.