Oman shares end higher on strong buying in banking stocks

Muscat: Strong buying activity in banking stocks lifted the MSM30 Index, which closed at 4,962.54 points, up 0.32 per cent. The MSM Sharia Index ended at 727.09 points, down 0.22 per cent. Due to special deal, Bank Sohar was the most active in terms of volume as well as turnover. Voltamp Energy, up 9.77 per cent, was the top gainer while Al Sharqia Investment was the day’s top loser, down 6.67 per cent.
A total number of 538 trades were executed on Sunday, generating turnover of OMR15.34 million with 88.5 million shares changing hands. Out of 37 traded securities, 8 advanced, 10 declined and 19 remained unchanged. At the end of the session, GCC & Arab Investors remained net buyers for OMR215,000 while Foreign Investors were net sellers for OMR134,000 followed by Omani Investors for OMR81,000 worth of shares.
Financial Index advanced 0.48 per cent to end at 7,385.23 points. Bank Sohar, United Finance, Vision Insurance, Al Anwar Holding and Bank Muscat gained 4.20 per cent, 3.60 per cent, 2.13 per cent, 1.89 per cent and 1.08 per cent respectively. Al Sharqia Investments, Gulf Investment Services, Al Izz Bank, HSBC Bank and Al Ahlia Insurance lost 6.67 per cent, 2.67 per cent, 1.37 per cent, 0.89 per cent and 0.66 per cent respectively.
Industrial Index had sharp gain of 0.82 per cent to finish at 6,701.41 points. Voltamp Energy increased 9.77 per cent, while Oman Flour Mills declined 0.48 per cent respectively.
Services Index ended at 2,427.36 points, down 0.45 per cent. OIFC, up 1.27 per cent, was the only gainer. Phoenix Power, Renaissance Services, Al Jazeera Services and Ooredoo declined 2.50 per cent, 1.73 per cent, 1.43 per cent and 0.94 per cent respectively.