Recovery continues on Muscat bourse

Muscat: Recovery on the Muscat Securities Market continued on Wednesday with scattered support coming from institutional investors. The MSM 30 continued its bullish run to finish at 5,783.10 points, a gain of 0.24 per cent. The MSM Sharia Index declined by 0.07 per cent to close at 887 points.
Bank Sohar was the most active in terms of volume as well as turnover. Today’s top gainer was Bank Sohar, up by 1.70 per cent, while Taageer Finance was the top loser, with a loss of 2.46 per cent.
As many as 538 trades were executed on Wednesday, generating a turnover of OMR2.16 million with 9.15 million shares changing hands. Out of 40 traded securities, 12 advanced, five declined and 23 remained unchanged. Foreign investors remained net buyers to the tune of OMR345,000 worth of shares. Arab and GCC investors, who switched to be net sellers, sold shares amounting to OMR232,000 followed by Omani investors at OMR113,000.
Financial Index gained 0.10 per cent to close at 7,397.55 points. Bank Sohar, Al Izz Bank, Al Batinah Development, Gulf Investment Services and Bank Muscat gained 1.70 per cent, 1.56 per cent, 1.14 per cent, 0.85 per cent and 0.52 per cent, respectively. Taageer Finance, Bank Nizwa and National Bank of Oman declined by 2.46 per cent, 1.30 per cent and 0.41 per cent, respectively.
Industrial Index retreated by 0.18 per cent to end at 7,496.45 points. Oman Fisheries moved up by 1.67 per cent, was the only gainer. Oman Cement and Galfar Engineering declined by 1.26 per cent and 0.95 per cent, respectively.
Services Index ended at 3,143.04 points, up by 0.26 per cent. OIFC, Sembcorp Salalah, Phoenix Power, Oman Telecommunications Company and Ooredoo Oman increased by 1.03 per cent, 0.84 per cent, 0.68 per cent, 0.63 per cent and 0.56 per cent, respectively.