Oman shares gain on positive regional cues

Muscat: Oman’s benchmark MSM30 Index maintained its gaining streak on positive regional cues and ended at 5158.83 points, up by 0.47 per cent. The MSM Sharia Index gained by 0.47 per cent at 767.97 points. Bank Muscat was the most active in terms of both volume and turnover. Monday’s top gainer was Oman National Engineering, up 8.73 per cent, while the top loser was OIFC, which lost 2.23 per cent.
Market volume improved, resulting in 380 trades being executed during the session, generating turnover of OMR1.77 million with more than 6.6 million shares changing hands. Out of the 27 traded securities, 11 advanced, 2 declined, and 14 remained unchanged. At the session close, Foreign Investors were net sellers for OMR913,000 while GCC & Arab Investors switched to be net sellers for OMR528,000, followed by foreign investors for OMR385,000 worth of shares.
Financial Index gained by 0.20 per cent to close at 7,679.76 points. Gulf Investment Services, United Finance, Al Madina Investment, National Bank of Oman, and Al Sharqiya Investment gained 2.47 per cent, 2.19 per cent, 1.52 per cent, 0.96 per cent, and 0.93 per cent respectively.
Industrial Index gained 0.12 per cent to finish at 7,018.83. points. Only Five stocks from the sector traded on Monday. Al Anwar Ceramic Tiles price increased by 1.56 per cent while Al Jazeera Steel price declined by 0.80 per cent.
Services Index ended at 2604.29 points, up by 0.36 per cent. Oman National Engineering, Omantel, Port Services, and Ooredoo increased 8.73 per cent, 3.03 per cent, 0.91 per cent, and 0.88 per cent respectively. OIFC, which lost 2.23 per cent was the only losing stock from the sector.