Oman shares fall on local institutional selling

Business Sunday 06/August/2017 16:36 PM
By: Times News Service
Oman shares fall on local institutional selling

Muscat: Local institutional selling pressured the benchmark MSM 30 Index on Sunday declined by 0.69 per cent to 5,022.43 points. The MSM Sharia Index also was fell by 0.46 per cent and closed at 741.36 points. Al Madina Takaful was the leader in terms of volume while Bank Muscat continued to be the most active in terms of turnover. National Aluminium Products, which closed higher by 5.38 per cent, was the top gainer while the top loser Renaissance Services closed 7.69 per cent below Thursday's close.
During the session, a total of 510 trades were executed, generating turnover of OMR1.7 million with more than 9.1 million shares changing hands. Out of 30 traded securities, 5 advanced, 17 declined, and 8 remained unchanged. Omani Investors were net sellers for OMR276,000 worth of shares followed by GCC and Arab Investors for OMR64,000 while Foreign Investors continued to be net buyers for OMR340,000 worth of shares.
Financial index lost 0.79 per cent and closed at 7523.53 points. United Finance was the only stock that gained from among Financial Sector stocks, and closed at OMR0.124, up 3.33 per cent. Bank Sohar, Alizz Islamic, Bank Nizwa, Sharqiya Investments, and Al Madina Takaful were down by 2.67 per cent, 2.56 per cent, 2.11 per cent, 1.94 per cent, and 1.80 per cent respectively.
Industrial Index closed at 6,803.11 points with loss of 0.18 per cent. National Aluminium, Al Jazeera Steels, and Al Anwar Ceramics increased by 5.38 per cent, 1.21 per cent, and 0.76 per cent respectively. Prices of Oman Cement and Oman Fisheries went down by 4.07 per cent, and 1.30 per cent respectively.
Services Sector Index was down 1.10 per cent and closed at 2,469.27 points. National Gas stock gained 2.76 per cent and closed at OMR0.298. Renaissance Services, Port Services, Al Jazeera Services, Phoenix Power, and Oman National Engineering were down by 7.69 per cent, 5.21 per cent, 1.99 per cent, 1.69 per cent, and 0.65 per cent respectively.