MSM index ends lower

Al Sharqia Investments was the top gainer, up 1.82 per cent while Al Batinah Power was the top loser, down 4.14 per cent.

MUSCAT: Negativity in telecom and industrial stocks weighed on the MSM30 Index, which declined by 0.32 per cent to end at 5,314.19 points. The MSM Sharia Index closed at 781.49 points, down by 0.36 per cent. Bank Nizwa was the most active in terms of volume while Bank Muscat led in terms of turnover. Al Sharqia Investments was the top gainer, up 1.82 per cent while Al Batinah Power was the top loser, down 4.14 per cent.

A total number of 661 trades were executed on Monday, generating a turnover of OMR2.38 million with 12.42 million shares changing hands. Out of 39 traded securities, 7 advanced, 14 declined, and 18 remained unchanged. At the session close, GCC & Arab Investors were net buyers for OMR135,000 followed by Omani Investors for OMR59,000 while Foreign Investors remained net sellers for OMR194,000 worth of shares.

Financial Index had gain of 0.12 per cent to close at 7,957.04 points. Al Sharqia Investments, Al Madina Takaful, Al Madina Investments, Al Izz Bank and United Finance gained 1.82 per cent, 1.74 per cent, 1.45 per cent, 1.16 per cent and 0.73 per cent respectively. Takaful Oman and Bank Dhofar lost 1.15 per cent and 0.84 per cent respectively.

Industrial Index declined 0.55 per cent to finish at 7,145.79 points. Oman Cement, Al Anwar Ceramics, Galfar Engineering, Raysut Cement and Oman Fisheries decreased 1.75 per cent, 1.44 per cent, 1.27 per cent, 0.97 per cent and 0.69 per cent respectively.