Oman share index falls on lack of buying support

Business Monday 07/March/2016 16:43 PM
By: Times News Service
Oman share index falls on lack of buying support

Muscat: Shares on the Muscat bourse edged down on lack of buying support. The MSM30 Index declined by 0.19 per cent to 5,396.36 points. The MSM Sharia Index ended on a negative note at 834.51 points, down 0.24 per cent. Galfar Engineering was the most active in terms of volume while Bank Muscat led in terms of turnover. The top gainer on Monday was Gulf Investment Services, up by 3.30 per cent, while Al Jazeera Steel was the top loser, down 2.78 per cent.
As many as 823 trades were executed on Monday, generating turnover of OMR3 million with 17.1 million shares changing hands. Out of 42 traded securities, 17 advanced, eight declined and 17 remained unchanged. Omani investors remained net buyers for OMR304,000 while GCC and Arab investors stayed net sellers for OMR294,000 followed by foreign investors for OMR10,000 worth of shares.
Financial Index retreated 0.25 per cent to close at 6,628.77 points. Gulf Investment Services, Al Batinah Development, United Finance, Takaful Oman and Al Sharqia Investments gained by 3.30 per cent, 2.74 per cent, 2.19 per cent, 2 per cent and 1.98 per cent, respectively. Ahli Bank, Bank Sohar, HSBC Bank, Al Anwar Holding and NBO declined by 2.78 per cent, 1.94 per cent, 1.02 per cent, 0.55 per cent and 0.37 per cent, respectively.
Industrial Index ended the session at 6,633.51 points, up by 0.05 per cent. Galfar Engineering, Oman Fisheries and Gulf International Chemicals increased by 3.23 per cent, 1.75 per cent and 0.65 per cent, respectively. Al Jazeera Steel declined by 2.78 per cent to close at OMR0.140.
Services Index gained by 0.14 per cent to close at 3,086.04 points. Port Services, Renaissance Services, Sembcorp Salalah, Phoenix Power and National Gas increased by 3.13 per cent, 2.22 per cent, 2.04 per cent, 0.69 per cent and 0.65 per cent, respectively. Shell Oman Marketing and OIFC declined by 2.56 per cent and 0.49 per cent, respectively.