Muscat shares fall on local selling

Muscat: Local selling in industrials dropped the MSM30 Index by 0.16 per cent to close at 5,522.86 points. The MSM Sharia Index closed at 844.67 points, down by 0.46 per cent.
Galfar Engineering was the most active in terms of volume, while Oman Cables led in terms of turnover. Takaful Oman, up by 4.14 per cent, was the top gainer, while Oman Cables was the top loser, down by 6.23 per cent.
As many as 517 trades were executed on Tuesday, generating a turnover of OMR2.29 million with 9.46 million shares changing hands. Out of 38 traded securities, 8 advanced, 13 declined and 17 remained unchanged.
Omani investors remained net buyers to the tune of OMR274,000 followed by GCC and Arab investors at OMR21,000 while foreign investors, who continued to be net sellers, sold stocks amounting to OMR295,000.
Financial Index declined by 0.11 per cent to end at 7,188.87 points. Takaful Oman, Taageer Finance, Al Izz Islamic Bank and Oman United Insurance gained 4.14 per cent, 1.83 per cent, 1.61 per cent and 1.40 per cent, respectively. Muscat Finance, Gulf Investment Services, Al Anwar Holding, Al Batinah Investment Holding and HSBC Bank declined by 3.33 per cent, 2.70 per cent, 1.76 per cent, 1.12 per cent and 0.86 per cent, respectively.
Industrial Index lost 0.51 per cent to close at 7,099.14 points. Galfar Engineering and Raysut Cement advanced by 1.05 per cent and 0.33 per cent, respectively. Oman Cables and Voltamp Energy declined by 6.23 per cent and 0.89 per cent, respectively.
Services Index finished at 3,022.80 points, down by 0.18 per cent. OIFC and Oman Telecommunications Company increased by 1.67 per cent and 0.33 per cent, respectively. Oman Education & Training, Al Suwadi Power, Al Batinah Power, Port Services Corporation and OoredooOman declined by 3.05 per cent, 2.63 per cent, 1.05 per cent, 0.83 per cent and 0.61 per cent, respectively.