Telecom stocks lead Oman share index lower

Business Monday 30/April/2018 16:23 PM
By: Times News Service
Telecom stocks lead Oman share index lower

Muscat: Pressured by the decline in telecom stocks and Ominvest, the MSM30 index closed marginally lower on Monday at 4,729.05 points, down by 0.11 per cent. MSM Sharia Index ended at 656.41 points, down by 0.25 per cent. Galfar Engineering was the most active stock in terms of volume and turnover. Galfar remained the top gainer as well, up 7.00 per cent, while the top loser was United Finance, down 2.70 per cent.
A total number of 1,120 trades were executed, generating turnover of OMR 3.51 million with 28.6 million shares changing hands. Out of 47 traded securities, 14 advanced, 10 declined and 23 remained unchanged. At the session close, Omani investors were net sellers for OMR109,000 followed by foreigners for OMR10,000 while GCC Arab Investors were net buyers for OMR119,000 worth of shares.
Financial Index closed up by 0.36 per cent at 7,266.84 points. Oman & Emirates Investment Holding, Al Batinah Development, Al Madina Takaful, Al Anwar Holding, and Bank Nizwa were up by 3.36 per cent, 2.11 per cent, 2.04 per cent, 1.36 per cent, and 1.16 per cent respectively. United Finance, Sharqiya Investments, and OMINVEST were down by 2.70 per cent, 1.63 per cent, and 1.54 per cent respectively.
Industrial Sector Index was up by 0.58 per cent at 6,367.63 points. Galfar Engineering, Oman Flour Mills, and Al Anwar Ceramics were up by 7.00 per cent, 1.14 per cent, and 0.87 per cent respectively. Oman Cement and Al Jazeera Steels were down by 1.64 per cent, and 0.61 per cent respectively.
Services Index closed lower by 0.51 per cent at 2,525.35 points. Renaissance Services, OIFC, and Al Jazeera Services closed with gains of 1.54 per cent, 0.85 per cent, and 0.63 per cent respectively. Shell Oman Marketing, Ooredoo, Sembcorp Salalah, Omantel, and National Gas closed lower by 2.65 per cent, 1.64 per cent, 1.34 per cent, 0.94 per cent, and 0.70 per cent respectively.