Oman share index ends higher supported by fresh buying

Muscat: Supported by fresh buying in Omantel shares, MSM30 Index witnessed its biggest single day gain in 2018. The Index closed at 4,370.45 points, up by 1.01 per cent. The MSM Sharia Index closed at 611.77 points, up 0.66 per cent. Bank Muscat was the most active in terms of volume and turnover. Omantel was the top gainer and closed higher by 7.60 per cent, while Raysut Cement continued to be the top loser, shedding 2.74 per cent from previous close.
A total number of 456 trades were executed during the day's trading session generating turnover of OMR2.05 million with more than 10.98 million shares changing hands. Out of 36 traded stocks, 17 advanced, 3 declined and 16 remained unchanged. At the session close, GCC & Arab investors were net sellers for OMR119,000 followed by the Omani investors for OMR5,000, while Foreign investors were net buyers for OMR124,000 worth of shares.
Financial Index gained 0.45 per cent and closed at 6,762.99 points. Al Sharqiya Investment Holding, Gulf Investment Services, Al Anwar Holding, National Bank of Oman, and Bank Muscat gained by 3.09 per cent, 2.22 per cent, 1.90 per cent, 1.15 per cent, and 1.09 per cent respectively. Shares of Muscat Finance witnessed decline of 2.27 per cent.
Industrial index closed at 5,577.47 points, up by 0.89 per cent. Oman Cables, Oman Fisheries, Al Maha Ceramics, Oman Cement, and Al Anwar Ceramics were up by 3.60 per cent, 3.41 per cent, 3.17 per cent, 2.75 per cent, and 1.08 per cent respectively. Raysut Cement closed lower by 2.74 per cent.
Services Sector Index witnessed gain of 0.71 per cent and closed at 2,392.97 points. Omantel, Muscat City Desalination, and Al Maha Petroleum were up by 7.60 per cent, 3.08 per cent, and 0.53 per cent respectively. Al Suwadi Power closed lower by 0.86 per cent.