Muscat bourse reacts on profit booking

Business Monday 16/October/2017 16:54 PM
By: Times News Service
Muscat bourse reacts on profit booking

Muscat: Weakness in banking and telecom stocks weighed on the MSM30 Index, which closed at 5,095.29 points, down by 0.85 per cent. Profit booking in heavy weight stocks also pulled down the Muscat bourse on Monday.
The MSM Sharia Index retreated 0.32 per cent to close at 743.30 points. Al Madina Takaful was the most active in terms of volume as well as turnover. The top gainer was Renaissance Services, up by 5 per cent, while Galfar Engineering was the top loser with loss of 5.06 per cent.
A total number of 931 trades were executed on Monday, generating turnover of OMR3.91 million with 24.2 million shares changing hands. Out of 36 traded securities, 7 advanced, 19 declined and 10 remained unchanged. Local Investors were net buyers for OMR404,000 followed by GCC and Arab investors for OMR162,000 while foreign investors were net sellers for OMR566,000 worth of shares. The market turnover showed a marked growth of 78 per cent at OMR3.91 million, while the traded volume stood higher at 24.2 million.
The market capitalisation edged down to OMR17.84 billion, a marginal fall of 0.24 per cent, compared to the previous trading.
Financial Index declined by 1.11 per cent to close at 7,304.56 points. Al Ahlia Insurance and Bank Nizwa were up by 2.50 per cent and 1.09 per cent respectively. Gulf Investment Services, Oman & Emirates Holding, Ahli Bank, Al Izz Bank and Al Sharqia Investments declined by 3.85 per cent, 3.75 per cent, 3.03 per cent, 2.90 per cent and 2.80 per cent, respectively.
Industry Index ended at 6,834.11 points, down by 0.17 per cent. Oman Fisheries, up by 3.42 per cent, was the sole gainer. Galfar Engineering and Gulf International Chemicals declined by 5.06 per cent and 2.87 per cent, respectively.
Services Index gained 0.31 per cent to finish at 2,549.82 points. Renaissance Services, Al Batinah Power, Al Suwadi Power and Phoenix Power increased by 5 per cent, 2.14 per cent, 2.14 per cent and 1.54 per cent, respectively. Port Services, Oman National Engineering, National Gas, Omantel lost 4.59 per cent, 3.26 per cent, 2.94 per cent, 2.26 per cent, and 2.11 per cent, respectively.