Muscat bourse edges up

Muscat: Shares on the Muscat Securities Market (MSM) edged up on better support from institutional investors. The MSM30 Index had minimal gains of 0.04 per cent amid normal trading volumes to close at 5,406.53 points. The MSM Sharia Index closed positively at 836.54 points, up 0.18 per cent.
OIFC was the most active in terms of volume while Sembcorp Salalah led in terms of turnover. Sunday’s top gainer was Al Hassan Engineering, up 4.55 per cent while Gulf Investment Services was the top loser, down 3.19 per cent.
As many as 720 trades were executed on Sunday, generating turnover of OMR3.7 million with 12.9 million shares changing hands. Out of 42 traded securities, 18 advanced, four declined and 20 remained unchanged. Omani investors remained net buyers for OMR148,000 while GCC and Arab investors stayed net sellers for OMR129,000 followed by foreign investors for OMR19,000 worth of shares.
Financial Index ended largely flat at 6,645.54 points, up 0.04 per cent. Ahli Bank, Bank Nizwa, Al Madina Takaful, Al Batinah Investment and NBO gained 1.69 per cent, 1.47 per cent, 1.39 per cent, 1.39 per cent and 0.75 per cent, respectively. Gulf Investment Services, BankDhofar and Oman United Insurance declined by 3.19 per cent, 2.17 per cent and 0.42 per cent, respectively.
Industrial Index advanced strongly by 0.38 per cent to close at 6,630.16 points. Al Hassan Engineering, Al Jazeera Steel, Oman Fisheries, Galfar Engineering and Oman Cement increased by 4.55 per cent, 2.86 per cent, 1.79 per cent, 1.64 per cent and 1.35 per cent, respectively.
Services Index ended at 3,081.77 points, down marginally by 0.02 per cent. Port Services, OIFC, Phoenix Power and National Gas increased by 4.35 per cent, 2 per cent, 0.70 per cent and 0.65 per cent, respectively. Sembcorp Salalah, down by 2 per cent, was the only sector loser.