Muscat bourse continues recovery

Shares on the Muscat bourse continued its recovery on Sunday. The MSM30 Index started the week on a positive note at 5,068.03 points, up by 0.32 per cent. The MSM Sharia Index gained 0.10 per cent to close at 748.88 points. Oman Fisheries was the leader in terms of volume while Oman Telecommunications Company (Omantel) was the most active in terms of turnover. Al Madina Investment, which closed higher by 4.69 per cent, was the top gainer while the top loser Omantel shed 0.87 per cent from Thursday's close.

During the session, a total of 310 trades were executed, generating turnover of OMR1.1 million with more than 4.9 million shares changing hands. Out of 24 traded securities, 11 advanced, 3 declined, and 10 remained unchanged. Omani investors were net buyers of OMR311,000 worth of shares followed by foreigners for OMR49,000 while GCC and Arab investors were net sellers of OMR360,000 worth of shares. 

Financial index gained by 0.60 per cent to close at 7,574.51 points. Al Madina Investments, Al Anwar Holding, Bank Sohar, Bank Muscat, and Bank Nizwa increased by 4.69 per cent, 1.40 per cent, 1.38 per cent, 1.09 per cent, and 1.09 per cent, respectively.

Industrial Index closed at 6,840.89 points after gaining by 0.34 per cent. Oman Fisheries, Al Jazeera Steels, and Al Anwar Ceramics increased by 1.59 per cent, 1.26 per cent, and 0.79 per cent, respectively.

Services sector had a marginal gain of 0.02 per cent and closed at 2,507.63 points. Al Jazeera Sevices and Phoenix Power increased by 0.68 per cent, and 0.85 per cent, respectively, while prices of Omantel, National Gas, and Port Services Corporation declined by 0.87 per cent, 0.66 per cent, and 0.49 per cent, respectively.