Muscat shares fall on local selling

Local selling in index heavyweights dragged down the MSM30 Index by 0.27 per cent before closing at 5,833.56 points. The MSM Sharia Index ended at 860.66 points, down by 0.26 per cent. Bank Nizwa remained the most active in terms of volume while Oman Cables led in terms of turnover. Al Madina Takaful, up by 2.02 per cent, was the top gainer while Ooredoo was the top loser, down by 2.05 per cent.

As many as 780 trades were executed on Sunday, generating turnover of OMR4.6 million with 16.1 million shares changing hands. Out of 41 traded securities, seven advanced, 13 declined and 21 remained unchanged. Omani investors remained net buyers for OMR107,000 while foreign investors were net sellers for OMR101,000 followed by GCC and Arab investors for OMR6,000 worth of shares. 

Financial Index retreated by 0.18 per cent to close at 8,224.37 points. Al Madina Takaful, Taageer Finance, Ahli Bank and Bank Muscat gained 2.02 per cent, 1.50 per cent, 0.99 per cent and 0.41 per cent, respectively. Oman & Emirates Holding, Gulf Investment Services, Ominvest, Bank Nizwa and Al Sharqia Investments lost 1.92 per cent, 1.64 per cent, 1.48 per cent, 1.10 per cent and 0.76 per cent, respectively.

Industrial Index was stable at 7,904.96 points, up by 0.02 per cent. Oman Fisheries and Oman Cables gained by 1.33 per cent and 0.94 per cent, respectively. Al Anwar Ceramics and Al Maha Ceramics declined by 1.20 per cent and 0.41 per cent, respectively.

Services Index declined by 0.30 per cent to finish at 3,017.63 points. OIFC, up by 0.46 per cent, was the sole gainer. Ooredoo, Phoenix Power and Oman Telecommunications Company declined by 2.05 per cent, 0.69 per cent and 0.36 per cent, respectively.

Source : Times Of Oman