Local buying aids recovery on Muscat bourse

Muscat: Sustained buying from local institutions pushed the MSM30 Index to 5,546.24 points, up 0.17 per cent. The MSM Sharia Index gained by 0.24 per cent to close at 845.72 points.
Bank Nizwa was the most active in terms of volume while Bank Muscat led in terms of turnover. Global Financial Investment, up 9.43 per cent, remained the top gainer while Al Jazeera Services was the day’s top loser, down by 7.09 per cent.
As many as 1,476 trades were executed on Monday, generating turnover of OMR5.6 million with 35.6 million shares changing hands. Out of 44 traded securities, 23 advanced, seven declined and 14 remained unchanged.
Omani investors were net buyers for OMR652,000 while foreign investors were net sellers for OMR603,000 followed by GCC and Arab investors for OMR49,000 worth of shares.
Financial Index advanced 0.37 per cent to close at 7,029.34 points. Global Financial Investment, Gulf Investment Services, Ahli Bank, Oman & Emirates and Oman United Insurance gained by 9.43 per cent, 6 per cent, 3.33 per cent, 3 per cent and 2.68 per cent, respectively. NBO, Bank Nizwa and Al Sharqia Investments declined by 5.60 per cent, 2.60 per cent and 0.91 per cent, respectively.
Industrial Index ended at 6,676.34 points, up 0.52 per cent. Al Hassan Engineering, Galfar Engineering, Voltamp Energy, Oman Fisheries and Dhofar Cattlefeed increased by 7.81 per cent, 6.94 per cent, 1.86 per cent, 1.72 per cent and 1.33 per cent, respectively. Oman Textiles and Al Jazeera Steel declined by 2.30 per cent and 1.38 per cent, respectively.
Services Index gained 0.12 per cent to close at 3,120.68 points. Port Services, National Gas, OIFC, Ooredoo and Sembcorp Salalah gained by 3.47 per cent, 2.56 per cent, 1.90 per cent, 1.07 per cent and 0.39 per cent respectively. Al Jazeera Services and Renaissance Services declined by 7.09 per cent and 1.05 per cent, respectively. – United Securities