Muscat stock market drops

Muscat: Amid poor trading volumes, the MSM30 Index declined by 0.12 per cent to close at 5,531.45 points. The MSM Sharia Index closed at 848.57 points, down by 0.09 per cent.
Oman & Emirates Holding was the most active in terms of volume, while Bank Muscat led in terms of turnover. The top gainer was Al Madina Investment, up by 1.82 per cent, while Oman Education & Training was the top loser with loss of 6.82 per cent.
As many as 418 trades were executed on Monday, generating turnover of OMR1.29 million with 5.48 million shares changing hands. Out of 44 traded securities, 7 advanced, 10 declined and 27 remained unchanged. Omani Investors remained net buyers for OMR167,000 followed by GCC and Arab investors for OMR135,000 while foreign investors were net sellers for OMR302,000 worth of shares.
Financial Index had marginal loss of 0.01 per cent to end at 7,196.45 points. Al Madina Investment, Al Madina Takaful, Global Financial Investment and Al Anwar Holding gained by 1.82 per cent, 1.45 per cent, 1.13 per cent and 0.59 per cent, respectively. Oman United Insurance, down by 1.72 per cent, was the only sector loser.
Industrial Index ended at 7,135.64 point, down by 0.11 per cent. Galfar Engineering, up by 1.06 per cent, was the only sector gainer. Al Hassan Engineering, National Aluminium, Gulf International Chemicals, Al Anwar Ceramics and Al Jazeera Steel declined by 6.67 per cent, 3.70 per cent, 1.15 per cent, 0.62 per cent and 0.44 per cent, respectively.
Services Index retreated 0.22 per cent to close at 3,028.24 points. Al Maha Petroleum and Oman Telecommunications Company increased by 0.35 per cent and 0.34 per cent, respectively. Oman Education & Training, Phoenix Power, Port Services and Ooredoo Oman declined by 6.82 per cent, 2.07 per cent, 0.82 per cent and 0.60 per cent, respectively.