Muscat bourse recovers on buying support in blue chip stocks

Muscat: Strong buying in index heavyweight telecom stock lifted the MSM30 Index to 5,186.20 points, a gain of 0.59 per cent. The MSM Sharia Index gained 0.45 per cent to close at 758.10 points. Galfar Engineering was the most active in terms of volume while Oman Telecommunications Company led in terms of turnover. The top gainer was Oman National Engineering, up by 5.73 per cent while Renaissance Services was the top loser with a loss of 3.43 per cent.
A total number of 1,075 trades were executed on Monday, generating turnover of OMR4.71 million with 22.9 million shares changing hands. Out of 43 traded securities, 6 advanced, 14 declined and 23 remained unchanged. Foreign investors switched to net buyers for OMR165,000 while GCC and Arab investors were net sellers for OMR114,000 followed by Omani investors for OMR51,000 worth of shares.
Financial Index ended at 7,483.18 points, down by 0.14 per cent. Vision Insurance, Bank Muscat and NBO increased by 0.70 per cent, 0.51 per cent and 0.48 per cent, respectively. Al Anwar Holding, Al Izz Bank, Al Madina Takaful, Taageer Finance and Ahli Bank lost 1.96 per cent, 1.41 per cent, 1 per cent, 0.87 per cent and 0.60 per cent, respectively.
Industrial Index lost 0.38 per cent to close at 7,064.61 points. Al Anwar Ceramics and Oman Fisheries declined by 2.90 per cent and 1.79 per cent, respectively.
Services Index gained 0.12 per cent to close at 2,567.92 points. Oman National Engineering, Omantel and Ooredoo increased by 5.73 per cent, 3.85 per cent and 3.67 per cent, respectively. Renaissance Services, Al Jazeera Services, Al Maha Petroleum, Port Services and National Gas declined by 3.43 per cent, 1.91 per cent, 1.69 per cent, 1.44 per cent and 0.69 per cent, respectively.