Foreign selling pressure, regional cues push Oman index lower

Muscat: Foreign selling pressure and regional cues pushed the MSM30 Index down 0.39 per cent, to close at 5,192.00 points. The MSM Sharia Index ended at 812.42 points, down 0.43 per cent. Phoenix Power was the most active in terms of volume while Omantel led in turnover. Up 3.31 per cent, Ahli Bank was the top gainer while Al Madina Investment was the top loser, down 5.45 per cent.
A total number of 1,133 trades were executed on Tuesday, generating turnover of OMR7.5 million with 28.9 million shares changing hands. Out of 52 traded securities, nine advanced, 19 declined and 24 remained unchanged. At the session close, Omani Investors remained net buyers for OMR128,000 while Foreign Investors stayed net sellers for OMR79,000 followed by GCC & Arab Investors for OMR49,000 worth of shares.
Financial Index reversed course to finish at 6,380.11 points, down 0.84 per cent. Ahli Bank and Gulf Investment Services gained 3.31 per cent and 1.06 per cent respectively. Al Madina Investments, Al Izz Bank, Al Anwar Holding, Bank Dhofar and Bank Muscat declined 5.45 per cent, 3.23 per cent, 3.03 per cent, 2.81 per cent and 2.28 per cent respectively.
Industrial Index retreated 0.15 per cent to close at 6,528.20 points. Al Hassan Engineering, up 3.13 per cent was the sole gainer. Al Jazeera Steel, Construction Materials, Oman Fisheries and Gulf International Chemicals declined 3.59 per cent, 3.45 per cent, 2.08 per cent and 1.11 per cent respectively.
Services Index closed with gain of 0.35 per cent at 2,896.79 points. Sembcorp Salalah, Al Batinah power, Al Suwadi Power and Renaissance Services gained 2.04 per cent, 1.57 per cent, 1.57 per cent and 0.81 per cent respectively. OIFC, Omantel and ACWA Power Barka declined 2.20 per cent, 1.04 per cent and 0.61 per cent respectively.