Shares on Muscat bourse firm up despite low volumes

Muscat: Weak sentiments continue to affect trading volumes with the MSM 30 Index closing at 5,853.29 points, up by 0.07 per cent. The MSM Sharia Index increased by 0.03 per cent to close at 895.62 points.
Bank Sohar was the most active stock in terms of volume, while Oman Telecommunications Company (Omantel)-led turnover-wise. Al Madina Takaful, up by 0.65 per cent was the day’s top gainer while Oman National Engineering was the top loser, down by 4.44 per cent.
As many as 514 trades were executed on Wednesday, generating turnover of OMR1.64 million with 6.4 million shares changing hands. Out of 40 traded securities, nine advanced, seven declined and 24 remained unchanged. Omani investors were net buyers to the tune of OMR233,000 worth of shares, followed by foreign investors at OMR43,000. Arab and GCC investors, who switched to be net sellers, sold shares amounting to OMR276,000.
Financial Index closed at 7,503.25 points, up by 0.09 per cent. Al Madina Takaful, Bank Sohar, Al Batinah Development and Gulf Investment Services declined by 1.39 per cent, 1.21 per cent, 1.09 per cent and 0.83 per cent, respectively. Al Madina Investments, down by 1.59 per cent, was the only loser.
Industrial Index declined by 0.10 per cent to close at 7,579.65 points. Al Hassan Engineering and Al Jazeera Steel gained by 1.35 per cent and 0.41 per cent, respectively. Oman Fisheries, Gulf International Chemicals and Raysut Cement fell by 1.59 per cent, 1.49 per cent and 0.32 per cent, respectively.
Services Index was stable at 3,167.99 points, up by 0.01 per cent. Ooredoo Oman, Port Services and OIFC increased by 1.10 per cent, 0.89 per cent and 0.51 per cent, respectively. Oman National Engineering, Phoenix Power and Oman Telecommunications Company declined by 4.44 per cent, 0.68 per cent and 0.31 per cent, respectively.