Oman share index rallies on local buying

Muscat: Amid high trading volumes and local buying, the MSM30 index rallied 1.88 per cent to 5,398.47 points. The MSM Sharia Index advanced 1.40 per cent to close at 833.35 points. Al Anwar Holding was the most active in terms of volume as well as turnover. United Power, up 9.88 per cent was the top gainer while DIDIC was the top loser, with loss of 3.54 per cent.
A total number of 2,122 trades were executed on Monday, generating turnover of OMR7.3 million with 41.6 million shares changing hands. Out of 47 traded securities, 38 advanced, four declined and five remained unchanged. At the session close, Omani Investors were net buyers for OMR1.22 million while Foreign Investors were net sellers for OMR834,000 followed by GCC & Arab Investors for OMR388,000 worth of shares.
Financial Index showed strong gains of 2.71 per cent to end at 6,750.89 points. Oman & Emirates Holding, Al Madina Investments, Al Batinah Development, Al Sharqia Investments and Gulf Investment Services gained 7.45 per cent, 7.02 per cent, 6.67 per cent, 6.32 per cent and 5.26 per cent respectively. DIDIC lost 3.54 per cent to close at OMR0.382.
Industrial Index ended positively at 6,646.88 points, up by 1.45 per cent. Al Maha Ceramics, Raysut Cement, Oman Fisheries, Construction Materials and Galfar Engineering gained 8.21 per cent, 3.90 per cent, 3.51 per cent, 3.45 per cent and 3.23 per cent respectively. Al Jazeera Steel, down 1.88 per cent was the only loser.
Services Index gained 1.03 per cent to close at 2,989.72 points. United Power, Renaissance Services, OIFC, National Gas and Port Services gained 9.88 per cent, 6.90 per cent, 3.65 per cent, 1.97 per cent and 1.54 per cent respectively. Sharqiyah Desalination and Al Jazeera Services lost 1.29 per cent and 0.38 per cent respectively.