Oman shares fall on lack of buying support

Business Sunday 30/October/2016 16:46 PM
By: Times News Service
Oman shares fall on lack of buying support

Muscat: Shares on the Muscat Securities Market edged down on lack of buying support. The MSM30 Index opened the week on a negative note to close at 5,484.07 points, down by 0.24 per cent. The MSM Sharia Index declined by 0.21 per cent to end at 841.99 points. Oman Orix Leasing was the most active in terms of volume while A’Saffa Foods led in terms of turnover. Sunday’s top gainer was Construction Materials, up by 3.45 per cent, while Al Madina Takaful was the top loser, down by 2.86 per cent.
As many as 286 trades were executed on Sunday, generating turnover of OMR6.73 million with 24.7 million shares changing hands. Out of 42 traded securities, 9 advanced, 14 declined and 19 remained unchanged. GCC and Arab investors remained net buyers for OMR1.53 million while Omani investors continued to be net sellers for OMR1.41 million followed by foreign investors for OMR120,000 worth of shares.
Financial Index retreated by 0.15 per cent to close at 7,104.47 points. Takaful Oman, Taageer Finance and HSBC Bank Oman gained 2.56 per cent, 1.85 per cent and 0.90 per cent, respectively. Al Madina Takaful, Al Batinah Investment and Development, Bank Nizwa, Al Sharqia Investment and Bank Sohar lost 2.86 per cent, 2.27 per cent, 1.25 per cent, 0.85 per cent and 0.70 per cent, respectively.
Industrial Index had marginal gain of 0.07 per cent to close at 7,094.38 points. Construction Materials, Galfar Engineering, Oman Cement and Voltamp Energy gained by 3.45 per cent, 1.06 per cent, 0.46 per cent and 0.45 per cent, respectively. Gulf International Chemicals, down by 0.78 per cent, was the only loser.
Services Index closed at 3,021.94 points, down by 0.17 per cent. Renaissance Services and OIFC gained 1.39 per cent and 0.56 per cent, respectively. Port Services, Phoenix Power, Oman Telecommunications Company, Sembcorp Salalah and Al Maha Petroleum declined by 1.70 per cent, 1.41 per cent, 1 per cent, 0.40 per cent and 0.35 per cent, respectively.