Trading volumes surge ahead

Muscat: Trading volumes on the Muscat bourse were driven by special deals. However, the MSM30 Index remained stable at 5,487.68 points, up by 0.12 per cent. The MSM Sharia Index closed at 843.90 points, down by 0.20 per cent. Bank Sohar was the most active in terms of volume while Oman Telecommunications Company led in terms of turnover. Bank Dhofar, up by 1.85 per cent, was the top gainer, while Al Hassan Engineering was the top loser, down by 3.39 per cent.
As many as 628 trades were executed on Wednesday, generating a turnover of OMR19.7 million with 67.2 million shares changing hands. Out of 49 traded securities, 10 advanced, 12 declined and 27 remained unchanged. Omani investors remained net buyers for OMR3.45 million while foreign investors were net sellers for OMR3.44 million followed by GCC and Arab investors of OMR7,000 worth of shares.
Financial Index advanced by 0.34 per cent to close at 7,202.61 points. Bank Dhofar, Gulf Investment Services, National Bank of Oman, Ominvest and Oman United Insurance increased by 1.85 per cent, 0.91 per cent, 0.87 per cent, 0.83 per cent and 0.65 per cent, respectively. Al Madina Investments and Al Sharqia Investment declined by 1.85 per cent and 0.78 per cent, respectively.
Industrial Index declined by 0.13 per cent to end at 7,183.14 points. Al Anwar Ceramics, up by 1.21 per cent, was the sole gainer. Al Hassan Engineering, Construction Materials, Oman Chlorine, Oman Cables and Raysut Cement declined by 3.39 per cent, 3.13 per cent, 1.21 per cent, 0.66 per cent and 0.65 per cent, respectively.
Services Index ended at 2,991.38 points, down by 0.13 per cent. OIFC and Port Services gained 0.53 per cent and 0.43 per cent, respectively. Ooredoo Oman, Phoenix Power, Al Batinah Power and National Gas declined by 1.29 per cent, 0.72 per cent, 0.53 per cent and 0.33 per cent, respectively. - United Securities