Muscat bourse continues fall

Muscat: Share prices on the Muscat bourse further declined on Tuesday. The MSM30 Index continued its negative run to close at 5,771.30 points, down by 0.14 per cent. The MSM Sharia Index ended at 890.12 points, down by 0.12 per cent. Ominvest was the most active stock in terms of volume as well as turnover. The top gainer was Areej Vegetable Oils, up by 10.20 per cent, while the top loser was Sohar Power, down by 5.49 per cent.
As many as 590 trades were executed on Tuesday, generating turnover of OMR2.25 million with 8.6 million shares changing hands. Out of 45 traded securities, four advanced, 16 declined and 25 remained unchanged. GCC and Arab investors were net buyers for OMR68,000 followed by Omani investors for OMR32,000 while foreign investors were net sellers for OMR100,000 worth of shares.
Financial Index retreated by 0.32 per cent to close at 7,363.38 points. Ominvest and Al Batinah Development gained 1.45 per cent and 1.10 per cent, respectively. Oman & Emirates, Oman United Insurance, Muscat Finance, Al Sharqia Investments and Al Madina Takaful declined by 2.92 per cent, 1.69 per cent, 1.64 per cent, 1.53 per cent and 1.39 per cent, respectively.
Industrial Index closed at 7,511.60 points with a loss of 0.35 per cent. Areej Vegetable Oils, up by 10.20 per cent, was the sole sector gainer. Construction Materials, Al Jazeera Steel, Al Maha Ceramics and Galfar Engineering declined by 3.13 per cent, 2.09 per cent, 1.25 per cent and 0.96 per cent, respectively.
Services Index declined by 0.12 per cent to close at 3,138.09 points. Phoenix Power gained 0.69 per cent to close at OMR0.145. Sohar Power, Port Services, OoredooOman and Oman Telecommunications lost 5.49 per cent, 0.90 per cent, 0.56 per cent and 0.31 per cent, respectively.