Marginal growth in index amid better volumes

Muscat: Banking stocks lifted the MSM30 Index to 5,894.05 points, up by 0.12 per cent. Higher than usual foreign participation lifted market turnover to OMR5 million. The MSM Sharia Index ended at 898.75 points, up by 0.21 per cent.
Bank Nizwa was the most active stock in terms of volume, while Bank Muscat was the most active turnover-wise. Raysut Cement was the top gainer, up by 1.69 per cent, while Al Jazeera Services was the top loser, down by 1.46 per cent.
As many as1,273 trades were executed on Wednesday, generating turnover of OMR5.04 million with 21.2 million shares changing hands. Out of 47 traded securities, 10 advanced, six declined and 31 remained unchanged. Arab and GCC investors were net buyers to the tune of OMR357,000 worth of shares followed by Omani investors at OMR173,000. Foreign investors, who switched to net sellers, sold shares amounting to OMR530,000.
Financial Index had marginal gains of 0.04 per cent and closed at 7,581.92 points. Takaful Oman, Al Sharqia Investments, Oman & Emirates Holding and Bank Muscat rose by 0.81 per cent, 0.71 per cent, 0.68 per cent and 0.51 per cent, respectively. Al Izz Bank declined by 1.45 per cent to close at OMR0.068.
Industrial Index rallied 0.34 per cent to close at 7,630.12 points. Raysut Cement, Oman Cement, National Aluminium and Voltamp Energy gained by 1.69 per cent, 1.66 per cent, 1.47 per cent and 1.44 per cent, respectively. Al Anwar Ceramics and Gulf International Chemicals declined by 0.45 per cent and 0.37 per cent, respectively.
Services Index closed at 3,186.20 points, down by 0.16 per cent. Al Batinah Power and Al Suwadi Power gained by 1.02 per cent and 0.51 per cent, respectively. Al Jazeera Services, Renaissance Services and Phoenix Power declined by 1.46 per cent, 1.46 per cent and 0.66 per cent, respectively.