Oman’s share index ends lower

Muscat: Selling pressure in Services Sector stocks pulled down the MSM30 Index by 0.97 per cent before closing at 4,503.49 points. MSM Sharia index closed at 614.48 points, down by 0.56 per cent. Galfar Engineering was the most active in terms of volume while Bank Muscat was the most active in terms of turnover. There were no gaining stock, and the top loser of the day, Gulf International Chemicals, was down by 5.26 per cent.
A total number of 367 trades were executed during the day's trading session generating turnover of OMR1.26 million with 6.5 million shares changing hands. Out of 26 traded stocks, 19 declined and 7 remained unchanged. At the session close, GCC & Arab investors were net sellers for OMR334,000 followed by foreign investors for OMR94,000 while Omani investors were net buyers for OMR428,000 worth of shares.
Financial Index closed down by 0.54 per cent at 7,036.08 points. Gulf investment services, Al Sharqiya Investments, Al Madina Takaful, Al Anwar Holding, and Muscat Finance were down by 5.06 per cent, 3.19 per cent, 2.00 per cent, 1.96 per cent, and 1.20 per cent respectively.
Industrial Index was down 0.74 per cent at 5,289.21 points. Gulf International Chemicals, Raysut Cement, Oman Fisheries, Al Anwar Ceramics, and Galfar Engineering were down by 5.26 per cent, 3.33 per cent, 2.67 per cent, 2.50 per cent, and 2.11 per cent respectively.
Services Sector Index closed lower by 0.94 per cent at 2,359.61 points. Omantel, Renaissance, OIFC, National Gas, and Phoenix Power were down by 3.64 per cent, 3.13 per cent, 1.20 per cent, 1.09 per cent, and 0.98 per cent respectively.