Oman shares index rallies sharply

Muscat: The MSM30 had a sharp rally of 0.61 per cent to end the session at 5,812.32 points. The MSM Sharia Index gained 0.64 per cent to finish at 892.03 points. Bank Nizwa was the most active in terms of volume while Renaissance Services was the most active turnover-wise. Oman Flour Mills was Sunday’s top gainer, up 8.30 per cent, while only loser was Al Sharqia Investment down 1.42 per cent.
A total number of 731 trades were executed on Sunday, generating turnover of OMR2.2 million with 13.8 million shares changing hands. Out of 31 traded securities, 18 advanced, one declined and 12 remained unchanged. At the session close, Omani investors were net buyers for OMR174,000 while foreign investors were net sellers for OMR149,000 followed by GCC & Arab Investors for OMR25,000 worth of shares.
Financial Index advanced 0.84 per cent to close at 7,327.64 points. Ahli Bank, Bank Nizwa, Al Anwar Holding, Al Izz Bank and Bank Sohar gained 3.89 per cent, 2.60 per cent, 1.72 per cent, 1.72 per cent and 0.58 per cent respectively. Al Shaqia Investments, down 1.42 per cent, was the only loser.
Industrial Index rallied strongly by 1.53 per cent to end at 7,420.79 points. Oman Flour Mills, Al Jazeera Steel, Galfar Engineering, Oman Fisheries and Al Maha Ceramic gained 8.30 per cent, 2.88 per cent, 1.83 per cent, 1.67 per cent and 1.29 per cent respectively.
Services Index closed at 3,248.81 points, up 0.40 per cent. Renaissance Services, Phoenix Power, National Gas, Omantel and OIFC increased 2.42 per cent, 1.25 per cent, 1.05 per cent, 0.62 per cent and 0.51 per cent respectively.