Oman share index ends higher

Muscat: MSM stocks continued with its gaining momentum for the second day and the benchmark index gained 1.14 per cent before closing at 4,420.34 points. The MSM Sharia Index closed at 612.56 points, up 0.14 per cent. Galfar Engineering was the most active in terms of volume while Bank Muscat topped the list of most active shares in terms of turnover. For the second consecutive day Omantel remained top gainer with gains of 4.89 per cent, while Oman Oil Marketing was the top loser, shedding 3.93 per cent from previous close.
A total number of 766 trades were executed during the day's trading session generating turnover of OMR2.74 million with more than 15.97 million shares changing hands. Out of 41 traded stocks, 19 advanced, 6 declined and 16 remained unchanged. At the session close, foreign investors were net sellers for OMR115,000 followed by the GCC and Arab investors for OMR8,000, while Omani investors were net buyers for OMR124,000 worth of shares.
Financial Index surged 1.12 per cent and closed at 6,838.61 points. Bank Sohar, National Bank of Oman, Alizz Islamic bank, Muscat Finance, and United Finance were up 4.88 per cent, 3.98 per cent, 2.50 per cent, 2.33 per cent and 2.04 per cent. OMINVEST was down 1.73 per cent and closed at OMR0.340.
Industrial index closed at 5,578.27 points, up by 0.01 per cent. National Detergent, Galfar Engineering, and Al Anwar Ceramics were up by 4.17 per cent, 1.92 per cent, and 1.06 per cent respectively. Oman Flour Mills closed lower by 1.52 per cent.
Services Sector Index witnessed gain of 0.29 per cent and closed at 2,399.98 points. Oman telecom, Phoenix Power, Al Suwadi Power, and Sohar Power were up 4.89 per cent, 2.63 per cent, 1.74 per cent and 0.87 per cent respectively. Oman Oil Marketing, Sembcorp Salalah, Al Maha Petroleum, and OIFC were down 3.93 per cent, 2.22 per cent, 1.06 per cent and 1.01 per cent respectively.