Oman shares rise on scattered buying support

Shares on the Muscat bourse edged up with the MSM30 Index gaining marginally by 0.05 per cent to close at 4,997.77 points. The MSM Sharia Index decreased 0.17 per cent to end at 741.31 points. Bank Sohar was the leader in terms of volume while Bank Muscat was most active in terms of turnover. Tuesday’s top gainer was Galfar Engineering, up 1.37 per cent, while the top loser was Al Madina Takaful, with a loss of 2.61 per cent.

During the session, a total of 577 trades were executed, generating turnover of OMR5.07 million with more than 21.6 million shares changing hands. Out of 32 traded securities, 5 advanced, 9 declined, and 18 remained unchanged. At the session close, Omani Investors switched to net buyers for OMR239,000 while GCC & Arab Investors were net sellers for OMR211,000 followed by Foreign Investors for OMR28,000 worth of shares. 

Financial Index retreated 0.20 per cent to close at 7,526.90 points. Al Sharqia Investments gained 0.95 per cent to close at OMR0.106. Al Madina Takaful, Gulf Investment Services, Al Izz Bank, Bank Nizwa and Al Anwar Holding declined 2.61 per cent, 1.27 per cent, 1.27 per cent, 1.08 per cent and 0.67 per cent respectively.

Industrial Index ended on a relatively flat note at 6,773.19 points, up 0.02 per cent. Galfar Engineering and Oman Refreshments increased 1.37 per cent and 0.26 per cent respectively. National Aluminium and Oman Flour Mills declined 2.24 per cent and 0.93 per cent respectively.

Services Index increased 0.06 per cent to finish at 2,494.46 points. Ooredoo and Omantel gained 0.92 per cent and 0.90 per cent respectively. Port Services, down 2.37 per cent was the sole loser.