Oman share index recovers on retail buying

Muscat: Shares on the Muscat bourse recovered to cross the psychological barrier of 5,000 points on better support at lower levels.
Reflecting the trend, MSM 30 Index – the barometer of market trend – moved up by 10.22 points to 5,003.37 points. The market turnover touched OMR2.2 million amid 12.9 million shares changing hands.
Majority of stocks that touched a rock bottom in recent trading moved up. Those retail investors waiting on the sidelines entered the market with renewed enthusiasm. The major gainers include Al Hassan Engineering, Oman and Emirates Investment Holding, Renaissance Services, Al Madina Takaful and Oman Refreshment.
The major losers were Meethaq Sukuk, Oman Flour Mills, Al Madinah Investment, Muscat Finance and Oman Qatar Insurance.
The most active stocks in terms of volume included Phoenix Power, Galfar Engineering, Oman and Emirates Investment Holding, Gulf Investment Services, Ooredoo and Al Madina Investment.