MSM index ends lower

Voltamp Energy, up by 1.08 per cent, was the top gainer, while Gulf Investment Services was the top loser, down by 5.93 per cent.

MUSCAT: Pressured by sustained foreign selling, the MSM30 Index closed at 5,697.61 points, down by 0.32 per cent. The MSM Sharia Index declined by 0.15 per cent to end at 850.22 points. Bank Muscat was the most active in terms of volume as well as turnover. Up by 1.08 per cent, Voltamp Energy was the top gainer, while Gulf Investment Services was the top loser, down by 5.93 per cent.

As many as 867 trades were executed on Tuesday, generating a turnover of OMR6.21 million with 17.1 million shares changing hands. Out of 38 traded securities, 10 advanced, 15 declined and 13 remained unchanged. Omani investors were net buyers of OMR1.09 million followed by GCC and Arab investors for OMR186,000 while foreign investors were net sellers for OMR1.28 million worth of shares. Financial Index retreated 0.29 per cent to close at 8,025.08 points. National Bank of Oman, Oman & Emirates Holding and BankDhofar gained 0.82 per cent, 0.73 per cent and 0.41 per cent, respectively. Gulf Investment Services, Bank Muscat, Al Izz Bank, Bank Nizwa and Oman United Insurance declined by 5.93 per cent, 2.27 per cent, 1.41 per cent, 1.10 per cent and 0.98 per cent, respectively.

Industrial Index closed at 8,001.87 points, down by 0.14 per cent. Voltamp Energy, Oman Cement and Raysut Cement in- creased by 1.08 per cent, 0.40 per cent and 0.35 per cent, respectively. Galfar Engineering, Oman Fisheries and Gulf International Chemicals declined by 2.30 per cent, 2.22 per cent and 0.34 per cent, respectively.

Services Index declined by 0.34 per cent to finish at 2,992.93 points. ACWA Power, Al Jazeera Services and OIFC gained 0.55 per cent, 0.52 per cent and 0.45 per cent, respectively. Renaissance Services, Port Services, National Gas, Oman Telecommunications Company and Phoenix Power declined by 2.89 per cent, 1 per cent, 0.77 per cent, 0.73 per cent and 0.70 per cent, respectively.

European markets fall

Most European stocks retreated as signs of caution started to show in markets before this week’s packed schedule of events, which includes a US interest rate decision. The pound tumbled as the British Prime Minister won permission to trigger the country’s departure from the EU. India’s NSE Nifty 50 Index surged to a record and the rupee climbed to an 11-month high after Prime Minister Narendra Modi’s victory in state elections. The yield on 10-year Treasuries was little changed near the highest level of the year and oil rose after declining for six straight days.