Local buying lifts Oman share index higher

Muscat: Local buying in telecom and power stocks lifted the MSM30 Index to 4,965.81 points, up 0.49 per cent. The MSM Sharia Index advanced 0.23 per cent to close at 806.19 points. Al Anwar Holding was the most active in terms of volume while SMN Power Holding led in terms of turnover. Monday’s top gainer was Gulf Investment Services, up 7.32 per cent while Al Hassan Engineering was the top loser, down 6.25 per cent.
As many as 877 trades were executed on Monday, generating turnover of OMR4.84 million with 19.4 million shares changing hands. Out of 47 traded securities, 21 advanced, 11 declined and 15 remained unchanged. Omani Investors were net buyers for OMR777,000 followed by GCC & Arab Investors for OMR188,000 while Foreign Investors remained net sellers for OMR965,000 worth of shares.
Financial Index closed on a positive note at 5,900.72 points, up 0.48 per cent. Gulf Investment Services, Oman & Emirates Holding, Al Anwar Holding, Al Sharqia Investments and Al Izz Bank gained 7.32 per cent, 3.75 per cent, 2.72 per cent, 2.35 per cent and 1.82 per cent respectively. Takaful Oman and Al Batinah Development declined 5.00 per cent and 2.74 per cent respectively.
Industrial Index retreated 0.43 per cent to close at 6,435.84 points. Construction Materials, Al Jazeera Steel, Al Anwar Ceramics and Al Maha Ceramics increased 3.57 per cent, 3.45 per cent, 1.07 per cent and 0.59 per cent respectively. Al Hassan Engineering, Oman Cables, Voltamp Energy, National Aluminium and Gulf International Chemicals declined 6.25 per cent, 4.06 per cent, 2.38 per cent, 1.91 per cent and 1.91 per cent respectively.
Services Index finished at 2,848.48 points with gain of 0.65 per cent. Omantel, Sembcorp Salalah, Ooredoo, Al Suwadi Power and Renaissance Services gained 2.85 per cent, 1.91 per cent, 1.29 per cent, 1.06 per cent and 0.86 per cent respectively. ACWA Power Barka, OIFC and Shell Oman Marketing decreased 1.21 per cent, 0.59 per cent and 0.25 per cent respectively.