Muscat bourse recovers on better buying support

Muscat: A firm trend witnessed on the Muscat Securities Market with select shares recovering on renewed support at lower levels.
The MSM30 Index remained stable at 5,821.60 points, up by 0.19 per cent. The MSM Sharia Index closed at 888.95 points, up by 0.22 per cent.
Bank Muscat remained most active in terms of volume as well as turnover. Al Izz Bank was top gainer on Wednesday, up by 3.45 per cent, while top loser was Sohar Power, down by 2.41 per cent.
As many as 769 trades were executed on Wednesday, generating turnover of OMR2.9 million with 14.5 million shares changing hands. Out of 43 traded securities, 14 advanced, seven declined and 22 remained unchanged. Omani investors were net buyers to the tune of OMR1.17 million worth of shares, while foreign investors were net sellers at OMR667,000 followed by GCC and Arab investors, who sold shaers amounting to OMR510,000.
Financial Index advanced by 0.39 per cent to close at 7,463.18 points. Al Izz Bank, Al Madina Investments, Bank Nizwa, Al Batinah Development and Al Anwar Holding gained by 3.45 per cent, 1.64 per cent, 1.32 per cent, 1.12 per cent and 1.03 per cent, respectively. Al Sharqia Investment declined by 0.70 per cent to close at OMR0.141.
Industrial Index closed at 7,449.44 points, up by 0.06 per cent. Al Hassan Engineering, Oman Fisheries and Galfar Engineering gained by 2.70 per cent, 1.64 per cent and 0.94 per cent, respectively. Al Anwar Ceramics and Al Jazeera Steel declined by 0.87 per cent and 0.40 per cent, respectively.
Services Index gained by 0.14 per cent to close at 3,187.60 points. Renaissance Services, Phoenix Power and OIFC increased by 2.25 per cent, 1.31 per cent and 1.02 per cent, respectively. Sohar Power, Al Jazeera Services, Al Batinah Power and Port Services declined by 2.41 per cent, 2.34 per cent, 2.11 per cent and 0.41 per cent, respectively.