Recovery continues on Muscat bourse

Muscat: Shares on the Muscat bourse continued its positive momentum on Tuesday, despite low volumes. The MSM30 Index ended at 5,896.97 points, up by 0.17 per cent. The MSM Sharia Index closed at 893.03 points, up by 0.11 per cent. Galfar Engineering was the most active stock in terms of volume, while Bank Muscat led in terms of turnover. Tuesday’s top gainer was Global Financial Investment, up by 3.66 per cent, while Oman Ceramics was the day’s top loser, down by 9.82 per cent.
As many as 810 trades were executed on Tuesday, generating turnover of OMR2.69 million with 13.7 million shares changing hands. Out of 43 traded securities, 15 advanced, six declined and 22 remained unchanged. GCC and Arab investors were net buyers for OMR356,000 followed by foreign investors for OMR45,000 while Omani investors remained net sellers for OMR401,000 worth of shares.
Financial Index advanced 0.16 per cent to close at 7,596.83 points. Global Financial Investment, Muscat Finance, Al Izz Bank, Al Madina Investments and Al Madina Takaful gained 3.66 per cent, 1.69 per cent, 1.59 per cent, 1.56 per cent and 1.35 per cent, respectively. Gulf Investment Services, Al Sharqia Investments and Oman & Emirates Holding declined by 0.80 per cent, 0.69 per cent and 0.69 per cent, respectively.
Industrial Index ended at 7,571.33 points, up by 0.24 per cent. Construction Materials, Gulf International Chemicals, Raysut Cement, Al Hassan Engineering and Galfar Engineering gained 3.13 per cent, 1.55 per cent, 1.41 per cent, 1.28 per cent and 0.94 per cent, respectively. Oman Ceramic lost 9.82 per cent to close at OMR0.404.
Services Index stayed flat at 3,208.54 points, up by 0.02 per cent. Port Services and Renaissance Services gained 0.43 per cent and 0.36 per cent, respectively. Oman National Engineering and Oman Telecommunications Company declined by 3.74 per cent and 0.30 per cent, respectively.