Oman shares decline on profit taking in financial stocks

Muscat: Profit taking in financial stocks weighed on the MSM30 Index, which closed at 4,787.46 points, down 0.84 per cent. The MSM Sharia Index declined 0.75 per cent to end at 674.06 points. Galfar Engineering was the most active in terms of volume as well as turnover. The top gainer was Al Hassan Engineering, up 11.36 per cent while Al Anwar Ceramics was the top loser, down 6.98 per cent.
A total number of 889 trades were executed on Tuesday, generating turnover of OMR2.94 million with 22.5 million shares changing hands. Out of 38 traded securities, 5 advanced, 20 declined and 13 remained unchanged. At the session close, GCC & Arab investors were net buyers for OMR107,000 followed by Foreign investors for OMR1,000 while Omani investors switched to net sellers for OMR108,000 worth of shares.
Financial Index retreated sharply by 1.16 per cent to finish at 7,346.49 points. Oman & Emirates Holding, HSBC Bank, Gulf Investment Services, Bank Dhofar and Muscat Finance declined 3.85 per cent, 3.64 per cent, 2.68 per cent, 2.06 per cent and 1.89 per cent respectively.
Industrial Index had strong loss of 1.32 per cent to end at 6,504.51 points. Al Hassan Engineering and Construction Materials gained 11.36 per cent and 9.68 per cent respectively. Al Anwar Ceramics, National Aluminium, Galfar Engineering, Voltamp Energy and Oman Fisheries declined 6.98 per cent, 4.07 per cent, 3.64 per cent, 0.96 per cent and 0.79 per cent respectively.
Services Index closed at 2,603.05 points, down 0.20 per cent. Omantel, National Gas and Renaissance Services gained 1.83 per cent, 0.76 per cent and 0.50 per cent respectively. Ooredoo, Sembcorp Salalah, OIFC and Al Maha Petroleum slid 2.82 per cent, 0.89 per cent, 0.79 per cent and 0.47 per cent respectively.