Muscat bourse reacts on selling

Muscat: Dividend stripping on index heavyweights weighed on the MSM 30 Index which closed at 5,467.36 points, down by 1.33 per cent. The MSM Sharia Index declined by 0.27 per cent to close at 842.22 points.
Bank Sohar was the most active in terms of volume and turnover. Al Hassan Engineering, up 5.41 per cent, was the top gainer while BankDhofar was the day’s top loser, down by 7.98 per cent.
As many as 765 trades were executed on Wednesday, generating turnover of OMR2.4 million with 15.6 million shares changing hands. Out of 39 traded securities, nine advanced, 17 declined and 13 remained unchanged. Omani investors were net buyers for OMR418,000 while foreign investors were net sellers for OMR312,000 followed by GCC and Arab investors for OMR106,000 worth of shares.
Financial Index retreated by 1.28 per cent to end at 6,944.22 points. Global Financial Investment, Bank Nizwa, Al Izz Bank and Ominvest gained by 5.35 per cent, 2.74 per cent, 1.69 per cent and 0.77 per cent, respectively. BankDhofar, Oman & Emirates Holding, Bank Sohar, Muscat Finance and Al Sharqia Investment slid by 7.98 per cent, 3.81 per cent, 2.80 per cent, 2.54 per cent and 1.89 per cent, respectively.
Industrial Index remained stable at 6,691.61 points, down by 0.03 per cent. Al Hassan Engineering, Oman Flour Mills and Voltamp Energy increased by 5.41 per cent, 3.73 per cent and 1.39 per cent, respectively. Oman Fisheries, Gulf International Chemicals, Al Jazeera Steel and Galfar Engineering declined by 3.39 per cent, 2.48 per cent, 1.39 per cent and 1.23 per cent, respectively.
Services Index ended negatively at 3,089.02 points, down by 0.61 per cent. Ooredoo, National Gas and Phoenix Power declined by 5.26 per cent, 1.86 per cent and 0.69 per cent, respectively.