Large cap finance firms drive Oman shares higher

Business Sunday 07/January/2018 16:29 PM
By: Times News Service
Large cap finance firms drive Oman shares higher

Muscat: Large cap financials continued to drive the index which closed at 5,119.18 points, up 0.28 per cent. The MSM Sharia Index gained 0.23 per cent to end at 721.07 points. Al Madina Takaful was the most active in terms of volume as well as turnover. Oman & Emirates Holding, up 3.66 per cent, was the top gainer while United Finance, down 3.55 per cent was the top loser.
A total number of 938 trades were executed on Sunday, generating a turnover of OMR2.18 million with 15.7 million shares changing hands. Out of 31 traded securities, 16 advanced, 7 declined, and 8 remained unchanged. At the session close, Omani Investors were net buyers for OMR272,000 while GCC & Arab Investors remained net sellers for OMR165,000 followed by Foreign Investors for OMR107,000 worth of shares.
Financial Index advanced 0.72 per cent to finish at 7,611.09 points. Oman & Emirates Holding, Al Sharqia Investments, Gulf Investment Services, Bank Sohar and Al Madina Takaful increased 3.66 per cent, 2.65 per cent, 2.56 per cent, 1.97 per cent and 1.89 per cent respectively. United Finance, down 3.55 per cent, was the only loser.
Industrial Index closed at 6,880.65 points, up 0.24 per cent. Al Anwar Ceramics and Gulf International Chemicals increased 3.25 per cent and 0.40 per cent respectively. Oman Fisheries and Voltamp Energy lost 1.28 per cent and 0.36 per cent respectively.
Services Index gained 0.22 per cent to close at 2,641.59 points. Renaissance Services, Al Jazeera Services, OIFC, National Gas and Majan College increased 3.33 per cent, 2.00 per cent, 1.42 per cent, 1.40 per cent and 0.46 per cent respectively. Omantel, MCDC, Phoenix Power and Ooredoo declined 1.29 per cent, 1.23 per cent, 0.74 per cent and 0.38 per cent respectively.