Oman bourse continues downtrend

Muscat: In a dull market, the MSM 30 Index continued its downtrend to close at 5,342.29 points, a fall of 0.39 per cent. The MSM Shariah Index also decreased 0.33 per cent to close at 829.44 points.
Bank Nizwa was the most active in terms of volume, while Bank Muscat led in turnover. United Power, up 2.43 per cent was the top gainer while Al Batinah Development and Investment Holding was the top loser, down 5.33 per cent.
As many as 591 trades were executed on Wednesday, generating a turnover of OMR1.6 million with 10.8 million shares changing hands. Out of 49 traded securities, 6 advanced, 26 declined and 17 remained unchanged. At the close of the session, Omani investors remained net buyers to the tune of OMR136,000 while foreign Investors were net sellers at OMR85,000 followed by GCC and Arab investors who sold shares amounting to OMR51,000.
Financial Index declined heavily by 0.94 per cent to finish at 6,525.35 points. Ahli Bank and Ominvest gained 1.71 per cent and 0.43 per cent respectively. DBIH, Global Financial Investment, Gulf Investment Services, Takaful Oman and Bank Nizwa decreased 5.33 per cent, 4.58 per cent, 4.26 per cent, 3.92 per cent and 2.90 per cent respectively.
Industrial Index retreated 0.59 per cent and ended at 6,585.08 points. Oman Flour Mills up 1.78 per cent was only sector gainer. Galfar Engineering, Raysut Cement, Al Jazeera Steel, Oman Fisheries and Al Hassan Engineering declined 3.13 per cent, 2.49 per cent, 2.16 per cent, 1.75 per cent and 1.45 per cent respectively.
Services Index closed negatively at 3,066.92 points, down by 0.16%. United Power, Omantel and Phoenix Power increased 2.43 per cent, 1.60 per cent and 0.68 per cent respectively. Port Services, National Gas, Renaissance Services and OIFC decreased 3.06 per cent, 2.58 per cent, 2.22 per cent and 1.50 per cent respectively.