Muscat shares slip on profit-booking

Muscat: Profit taking and thin trading volumes weighed on the MSM 30 Index which closed at 5,735.15 points, down by 0.44 per cent. The MSM Sharia Index also declined 0.40 per cent to close at 863.39 points.
Galfar Engineering was the most active in terms of volume while Bank Sohar led in terms of turnover. National Gas was the day’s top gainer, up 8.67 per cent, while Al Madina Investment remained the top loser, with loss of 6.06 per cent,
As many as 1,258 trades were executed on Sunday, generating a turnover of OMR3.77 million with 23.3 million shares changing hands. Out of 42 traded securities, 9 advanced, 15 declined and 18 remained unchanged. Arab and GCC investors were net buyers to the tune of OMR171,000 worth of shres, followed by Omani investors at OMR144,000. Foreign investors, who were net sellers, sold shares amounting to OMR315,000.
Financial Index retreated 0.84 per cent to close at 7,326.31 points. Al Sharqia Investments, Takaful Oman and Oman United Insurance gained 2.59 per cent, 2.50 per cent and 1.12 per cent respectively. Al Madina Investment, Oman & Emirates Holding, Bank Nizwa, Al Izz Bank and Bank Sohar declined 6.06 per cent, 4.62 per cent, 3.85 per cent, 3.23 per cent and 3.07 per cent respectively.
Industrial Index ended negatively at 6,953.04 points, down 0.37 per cent. Al Jazeera Steel, Oman Fisheries, Oman Cables and Raysut Cement increased 3.01 per cent, 2.74 per cent, 0.59 per cent and 0.47 per cent respectively. Al Hassan Engineering, Voltamp Energy, Galfar Engineering and Gulf International Chemicals slid 5.95 per cent, 4.98 per cent, 3.13 per cent and 0.37 per cent respectively.
Services Index gained 0.29 per cent to close at 3,195.54 points. National Gas and Renaissance Services gained 8.67 per cent and 4.95 per cent respectively. Port Services, Al Jazeera Steel, OIFC and Omantel declined 3.42 per cent, 2.21 per cent, 1.41 per cent and 0.63 per cent respectively.