Oman’s share index ends higher on positive market cues

Muscat: Positive cues in regional markets and institutional buying in banking stocks lifted the MSM30 Index to 5,915.46 points, up 1.14 per cent. The MSM Sharia Index closed at 901.38 points, up 0.51 per cent. Gulf Investment Services was the most active in terms of volume while Bank Sohar led in terms of turnover. Al Batinah Development, up 9.20 per cent, remained the top gainer while Al Izz Bank was the top loser, down 1.64 per cent.
A total number of 971 trades were executed on Wednesday, generating turnover of OMR2.4 million with 13.1 million shares changing hands. Out of 42 traded securities, 20 advanced, four declined and 18 remained unchanged. At the session close, Omani investors were net buyers for OMR36,000 while foreign investors were net sellers for OMR20,000 followed by GCC & Arab Investors for OMR16,000 worth of shares.
Financial Index rallied strongly by 1.45 per cent to end at 7,490.95 points. Al Batinah Development, Global Financial Investments, Bank Dhofar, Oman United Insurance and Bank Sohar gained 9.20 per cent, 4.44 per cent, 3.88 per cent, 3.21 per cent and 2.79 per cent respectively. Al Izz Bank and Al Sharqia Investment declined 1.64 per cent and 1.35 per cent respectively.
Industrial Index closed at 7,486.57 points, up 0.29 per cent. Al Hassan Engineering, Voltamp Energy, Gulf International Chemicals and Raysut Cement gained 2.56 per cent, 1.82 per cent, 0.77 per cent and 0.73 per cent respectively.
Services Index gained 0.48 per cent to finish at 3,274.27 points. Al Jazeera Services, Ooredoo, OIFC, Renaissance Services and National Gas increased 3.30 per cent, 3.23 per cent, 2.02 per cent, 1.68 per cent and 0.65 per cent respectively. Port Services and Phoenix Power declined 0.83 per cent and 0.62 per cent respectively.