Oman share index ends on negative note

Muscat: The MSM30 Index ended the session on a negative note at 4,405.34 points, down 0.63 per cent. The MSM Sharia Index closed at 624.48 points, down 0.32 per cent. Al Madina Takaful was the most active in terms of volume while Bank Muscat led in terms of turnover. There were no gainers while the top loser was HSBC Bank, down 6.45 per cent.
A total number of 377 trades were executed during the day's trading session generating turnover of OMR921,000 with more than 5.4 million shares changing hands. Out of 36 traded stocks, none advanced, 17 declined and 19 remained unchanged. At the session close, Foreign investors were net buyers for OMR95,000 worth of shares followed by the GCC & Arab investors for OMR22,000 while Omani Investors switched to net sellers for OMR117,000 worth of shares.
Financial Index declined sharply by 1.29 per cent to end at 6,811.30 points. HSBC Bank, Gulf Investment Services, Al Anwar Holding, Bank Sohar and Al Izz Bank decreased 8.26 per cent, 5.08 per cent, 3.67 per cent, 2.17 per cent and 1.02 per cent respectively.
Industrial Index retreated 0.30 per cent to finish at 5,714.23 points. Galfar Engineering and Oman Fisheries declined respectively.
Services Sector Index ended at 2,403.83 points, down 0.21 per cent. Muscat Gases, Muscat City Desalination, Phoenix Power, OIFC and Al Suwadi Power declined 1.96 per cent, 0.88 per cent and 0.56 per cent respectively.