Muscat bourse recovers on firm trend in oil prices

Business Sunday 01/October/2017 17:05 PM
By: Times News Service
Muscat bourse recovers on firm trend in oil prices

Muscat: Shares on the Muscat Securities Market recovered on better sentiments following a recovery in oil prices.The MSM30 Index closed at 5,155.56 points, up 0.35 per cent. The MSM Sharia Index ended at 754.72 points, up 0.69 per cent. Galfar Engineering was the most active in terms of volume as well as turnover. Port Services, up 5.05 per cent, was the top gainer while Phoenix Power was the top loser with a loss of 1.61 per cent.
A total number of 808 trades were executed on Sunday, generating turnover of OMR2.85 million with 16.95 million shares changing hands. Out of 37 traded securities, 15 advanced, 11 declined and 11 remained unchanged. Omani investors remained net buyers for OMR451,000 while foreign investors were net sellers for OMR324,000 followed by GCC and Arab investors for OMR127,000 worth of shares.
Financial Index retreated 0.21 per cent to finish at 7,493.43 points. Alizz Islamic Bank, Vision Insurance, Al Sharqia Investments, Taageer Finance and Al Anwar Holding increased by 1.43 per cent, 1.43 per cent, 0.94 per cent, 0.88 per cent and 0.66 per cent, respectively. Al Madina Investments, Oman & Emirates Holding, Bank Nizwa, Al Madina Takaful and NBO lost by 1.59 per cent, 1.15 per cent, 1.09 per cent, 0.99 per cent and 0.96 per cent, respectively.
Industrial Index closed at 7,091.86 points, up by 0.58 per cent. Galfar Engineering, Al Anwar Ceramics and Oman Cement gained by 4.44 per cent, 2.22 per cent and 1 per cent, respectively. Oman Fisheries was the only loser.
Services Index ended at 2,564.86 points, up by 0.56 per cent. Port Services, Oman National Engineering, Ooredoo, Omantel and Al Jazeera Services increased by 5.05 per cent, 4.67 per cent, 2.94 per cent, 1.96 per cent and 0.64 per cent, respectively. Phoenix Power and OIFC declined by 1.61 per cent and 0.61 per cent, respectively.