Oman shares: Block trades generate better volume

Business Tuesday 03/May/2016 16:55 PM
By: Times News Service
Oman shares: Block trades generate better volume

Muscat: Supported by block trades, the MSM30 Index registered its highest trading turnover this year and ended at 5,983.99 points, up by 0.54 per cent. The MSM Sharia Index gained 0.18 per cent to close at 883.66 points.
Galfar Engineering was the most active in terms of volume while Ominvest led in terms of turnover. With a gain of 10 per cent, Al Sharqia Investment was the top gainer while Al Anwar Ceramics was Tuesday’s top loser, down 3.70 per cent.
As many as 1,674 trades were executed on Tuesday, generating a turnover of OMR13.9 million with 47.2 million shares changing hands. Out of 52 traded securities, 19 advanced, seven declined and 26 remained unchanged.
Omani investors were net buyers for OMR257,000 while foreign investors remained net sellers for OMR249,000 followed by GCC and Arab investors for OMR8,000 worth of shares.
Financial Index ended positively at 7,827.45 points, up by 0.80 per cent. Al Sharqia Investment, Oman & Emirates, Al Batinah Development, Gulf Investment Services and Muscat Finance increased by 10 per cent, 9.79 per cent, 3.92 per cent, 2.27 per cent and 1.63 per cent, respectively. HSBC Bank and Taageer Finance declined by 0.83 per cent and 0.74 per cent, respectively.
Industrial Index remained stable at 7,211.31 points, up by 0.03 per cent. Construction Materials, Galfar Engineering, National Aluminium and Raysut Cement gained by 2.86 per cent, 2.56 per cent, 1.66 per cent and 0.85 per cent, respectively. Al Anwar Ceramics and Oman Fisheries declined by 3.70 per cent and 1.49 per cent, respectively.
Services Index had strong gain of 0.93 per cent to close at 3,275.04 points. Oman Hotel & Tourism, National Gas, Renaissance Services, Oman Telecommunications Company and Phoenix Power advanced by 9.81 per cent, 8.63 per cent, 8.40 per cent, 2.19 per cent and 2 per cent, respectively. OIFC and Port Services declined by 3.30 per cent and 3.09 per cent, respectively.