Oman shares end higher on buying support from retail investors

Muscat: Shares on the Muscat bourse continued its firm trend on better buying support from retail investors. The benchmark MSM30 Index continued its uptrend and closed at 5,225.24 points, up 0.75 per cent. The MSM Sharia Index gained 0.63 per cent to end at 762.86 points. Galfar Engineering was the most active in terms of volume while Omantel led in terms of turnover. The top gainer was Oman National Engineering, up 7.83 per cent while Renaissance Services was the top loser with a loss of 4.89 per cent.
A total number of 878 trades were executed on Tuesday, generating turnover of OMR3.06 million with 13.96 million shares changing hands. Out of 35 traded securities, 10 advanced, 11 declined and 14 remained unchanged. GCC and Arab Investors switched to net buyers for OMR73,000 followed by Omani Investors for OMR2,000 while Foreign Investors were net sellers for OMR75,000 worth of shares.
Financial Index advanced 0.39 per cent to end at 7,512.15 points. Al Madina Takaful, Bank Sohar, Al Izz Bank, Bank Nizwa and Bank Muscat increased 3.03 per cent, 2.50 per cent, 1.43 per cent, 1.10 per cent and 1.02 per cent respectively. Gulf Investment Services, Al Sharqia Investments, Al Madina Investments, Al Anwar Holding and NBO lost 2.41 per cent, 1.87 per cent, 1.61 per cent, 0.67 per cent and 0.48 per cent respectively.
Industrial Index retreated 0.42 per cent to finish at 7,034.85 points. Galfar Engineering, Gulf International Chemicals and Al Jazeera Steel declined 4.26 per cent, 2.27 per cent and 0.75 per cent respectively.
Services Index closed at 2,566.77 points, down 0.04 per cent. Oman National Engineering, Phoenix Power, Omantel and Ooredoo increased 7.83 per cent, 2.46 per cent, 2.22 per cent and 1.18 per cent respectively. Renaissance Services, National Gas and OIFC declined 4.89 per cent, 2.78 per cent and 1.23 per cent respectively.