Muscat: The MSM30 Index ended lower at 7342.44 points, down by 0.21 per cent. MSM Sharia Index remained unchanged and closed at 1070.05 points. Bank Sohar was the most active in terms of volume as well as turnover.
Al Jazeera Steel Product was the top gainer of the day with 4.37 per cent gain while Oman Textile Holding was the top loser and closed down by 5.34 per cent.
A total number of 885 trades were executed on Monday's trading session generating turnover of OMR4.46 million with over 13.01 million shares traded. Out of 52 traded stocks, 15 advanced, 19 declined and 18 were unchanged.
At the session close, Omani investors remained as net buyers for OMR53,000 followed by GCC & Arab investors for OMR12,000 while foreign investors were net sellers for OMR66,000 worth of shares.
Financial Sector Index was marginally down by 0.01 per cent at 8903.77 points. Al Izz Islamic Bank, ahlibank, Gulf Investment Services and Bank Sohar increased by 2.04 per cent, 0.88 per cent,0.81 per cent and 0.40 per cent respectively.
Al Madina Investment, Oman & Emirates, National Finance and HSBC Bank Oman declined by 2.06 per cent, 1.42 per cent, 0.65 per cent and 0.60 per cent respectively.
Industrial Sector Index rises
The Industrial Sector Index was up by 0.22 per cent at 10154.49 points. Al Jazeera Steel Products, Computer Stationary, Construction Material Industries and Galfar Engineering increased by 4.37 per cent, 3.29 per cent, 2.00 per cent and 0.42 per cent respectively.
Oman Textile Holding, Al Hassan Engineering, Oman Fisheries and Voltamp Energy declined by 5.34 per cent, 1.90 per cent,1.08 per cent and 0.50 per cent respectively. Services Sector Index was down by 0.31 per cent at 3749.22 points. Sembcorp Salalah, Nawras and OIFC increased by 1.29 per cent, 1.24 per cent and 0.40 per cent respectively.
Renaissance Services, National Gas and Omantel declined by 4.42 per cent, 0.53 per cent and 0.28 per cent respectively.
Saudi stocks fluctuate
Shares in Saudi Arabia swung between gains and losses, with as many as 19 companies including Bank Albilad and Saudi Fisheries plunging more than five per cent before the index rebounded.
The Tadawul All Share Index rose 0.2 per cent to 10,922.22 at 2:12pm in Riyadh, having lost as much as one per cent earlier, the biggest drop since June 24.
Bank Albilad declined as much as 6.2 per cent, the most since June 2012, while Saudi Fisheries fell as much as 6.4 per cent, its biggest loss since April. Alinma Bank erased earlier gains of 9.5 per cent to slide as much as 2.4 per cent.
"Retail investors are heavily invested in Alinma Bank," Khaled Albraikan, head of asset management at NCB Capital, said by phone.
"When there's profit taking in a stock that has been rallying for the past three days, the market reacts to it quickly" and profit taking spreads throughout the whole market, he said.
Saudi Arabia's benchmark index is one of the best performing in the world this year in dollar terms, according to data compiled by Bloomberg, having advanced 28 per cent to close at the highest in six years on Sunday. The country's regulator last week outlined shareholder limits for foreigner investors as it prepares to open its market.