Oman stocks rise on institutional buying

Muscat: Supported by local institutional buying, the MSM 30 Index advanced 1.11 per cent to close at 5,298.60 points. The MSM Sharia Index closed at 821.87 points, up 0.85 per cent.
Al Anwar Holding was the most active in terms of volume as well as turnover. Port Services, up 8.33 per cent was the top gainer while Al Jazeera was the top loser, with loss of 2.44 per cent.
As many as 1,368 trades were executed on Sunday, generating turnover of OMR4.4 million with 27.3 million shares changing hands. Out of 42 traded securities, 27 advanced, four declined and 11 remained unchanged.
At the close of the session, Omani investors were net buyers to the tune of OMR258,000 worth of shares, while GCC and Arab investors switched to net sellers at OMR176,000 followed by foreign investors, who were net sellers, sold shares amounting to OMR82,000.
Financial Index rallied 1.15 per cent to finish at 6,572.99 points. Al Izz Bank, Oman & Emirates Holding, Al Madina Investments, Global Financial Investment and Al Anwar Holding gained 4.76 per cent, 4.44 per cent, 3.64 per cent, 2.73 per cent and 2.34 per cent respectively. Takaful Oman and Gulf Investment Services declined 1.83 per cent and 1.04 per cent respectively.
Industrial Index ended positively at 6,551.85 points, up 0.56 per cent. Oman Fisheries, Galfar Engineering, Al Hassan Engineering, Oman Textiles and Raysut Cement gained 7.55 per cent, 6.90 per cent, 5.88 per cent, 2.27 per cent and 2.21 per cent respectively. Al Jazeera Steel and National Aluminium declined 2.44 per cent and 1.42 per cent respectively.
Services Index gained 0.89 per cent to close at 2,959.29 points. Port Services, Renaissance Services, OIFC, Ooredoo and Omantel gained 8.33 per cent, 7.41 per cent, 2.13 per cent, 1.85 per cent and 1.40 per cent respectively.