Oman stock market continues to recover

Muscat: Early momentum from Sunday tailed off towards the end of trading session with the MSM30 Index settling at 5,212.07 points, up 0.63 per cent. The MSM Sharia Index declined 0.06 per cent to close at 815.90 points. Bank Nizwa was the most active in terms of volume while NBO led in turnover. The top gainer was Al Hassan Engineering, up 6.67 per cent while Port Services was the top loser with loss of 7.69 per cent.
As many as 1,354 trades were executed on Monday, generating turnover of OMR5.5 million with 32.1 million shares changing hands. Out of 47 traded securities, 16 advanced, 18 declined and 13 remained unchanged.Omani Investors remained net buyers for OMR1.14 million while foreign investors stayed net sellers for OMR935,000 followed by GCC and Arab investors for OMR204,000 worth of shares.
Financial Index stayed positive with gains of 1.54 per cent to close at 6,434.39 points. National Bank of Oman, Bank Sohar, BankDhofar, Global Financial Investment and Al Izz Bank gained by 5.79 per cent, 4.90 per cent, 4.18 per cent, 3.74 per cent and 3.33 per cent, respectively. Muscat Finance, Ahli Bank, United Finance, Oman Orix Leasing and Al Batinah Development declined by 3.85 per cent, 3.21 per cent, 1.63 per cent, 1.54 per cent and 1.39 per cent, respectively.
Industrial Index ended the session at 6,538.14 points, up 0.13 per cent. Al Hassan Engineering, Al Jazeera Steel and Al Maha Ceramics gained by 6.67 per cent, 6.37 per cent and 1.06 per cent, respectively. Oman Cables, Gulf International Chemicals and National Aluminium declined by 2.58 per cent, 1.82 per cent and 1.38 per cent, respectively.
Services Index retreated 0.54 per cent to close at 2,886.62 points. Phoenix Power, ACWA Power and National Gas gained by 2.14 per cent, 1.23 per cent and 0.66 per cent, respectively. Port Services, Oman Oil, Renaissance Services, OIFC and Oman Telecommunications Company declined by 7.69 per cent, 2.50 per cent, 2.36 per cent, 1.09 per cent and 1.03 per cent, respectively.