Oman's share index edges higher

Muscat: Oman’s benchmark MSM30 Index advanced 0.38 per cent to 5,415.66 points driven by buying in banking stocks. The MSM Sharia Index gained 0.12 per cent to close at 836.50 points. Bank Muscat was the most active in terms of volume as well as turnover. Galfar Engineering was Tuesday’s top gainer, up 3.33 per cent while Oman & Emirates Holding was the top loser, down 9.00 per cent.
A total number of 1,226 trades were executed on Tuesday, generating turnover of OMR7.34 million with 26.5 million shares changing hands. Out of 47 traded securities, 17 advanced, eight declined and 22 remained unchanged. At the session close, Omani Investors were net buyers for OMR1.82 million followed by GCC & Arab investors for OMR375,000 while Foreign Investors stayed net sellers for OMR2.19 million worth of shares.
Financial Index increased 0.35 per cent to close at 6,681.37 points. Global Financial Investment, Bank Muscat, Al Izz Bank, Al Anwar Holding and Bank Nizwa gained 2.40 per cent, 1.89 per cent, 1.79 per cent, 1.68 per cent and 1.47 per cent respectively. Oman & Emirates Holding, Al Madina Takaful and Al Sharqia Investment declined 9.00 per cent, 2.67 per cent and 0.94 per cent respectively.
Industrial Index ended at 6,629.24 points, up 0.22 per cent. Galfar Engineering, Gulf International Chemicals, Al Jazeera Steel and Al Maha Ceramics increased by 3.33 per cent, 1.67 per cent, 1.40 per cent and 0.49 per cent respectively. Al Anwar Ceramics and Oman Textiles declined 0.71 per cent and 0.53 per cent respectively.
Services Index gained 0.14 per cent to close at 3,060.82 points. Renaissance Services, Phoenix Power, Al Jazeera Services, OIFC and Omantel increased 1.80 per cent, 1.42 per cent, 1.03 per cent, 0.51 per cent and 0.31 per cent respectively. National Gas and Port Services declined by 1.31 per cent and 0.61 per cent respectively.