Muscat bourse edges down despite better volumes

Muscat: Amid higher than usual volumes, the MSM 30 Index declined marginally by 0.05 per cent to close at 5,906.71 points. The MSM Sharia Index ended at 897.45 points, up by 0.14 per cent.
Bank Nizwa was the most active stock in terms of volume while Bank Muscat led in terms of turnover. Monday’s top gainer was Oman Orix Leasing, up by 3.45 per cent, while the top loser was Al Hassan Engineering with a loss of 2.50 per cent.
As many as 841 trades were executed on Monday, generating turnover of OMR3.69 million with 17 million shares changing hands. Out of 48 traded securities, eight advanced, 15 declined and 25 remained unchanged. GCC and Arab investors were net buyers to the tune of OMR162,000, followed by Omani investors at OMR157,000. Foreign investors, who were net sellers, sold shares amounting to OMR319,000.
Financial Index declined by 0.11 per cent to close at 7,640.02 points. Oman Orix Leasing, Al Izz Bank, Bank Muscat and Oman & Emirates Holding gained by 3.45 per cent, 2.94 per cent, 1.54 per cent and 0.69 per cent, respectively. Bank Sohar, Al Madina Takaful, Oman United Insurance, Global Financial Investment and Al Batinah Development declined by 2.25 per cent, 1.35 per cent, 1.31 per cent, 1.12 per cent and 1.01 per cent, respectively.
Industrial Index was stable at 7,595.27 points, down by 0.01 per cent. Construction Materials and Gulf International Chemicals gained 3.03 per cent and 1.50 per cent, respectively. Al Hassan Engineering, Oman Ceramics, National Aluminium and Al Jazeera Steel declined by 2.50 per cent, 0.99 per cent, 0.96 per cent and 0.37 per cent, respectively.
Services Index retreated 0.26 per cent to close at 3,201.17 points. Oman Education & Training and Oman Telecommunications Company gained 2.16 per cent and 0.30 per cent, respectively. Renaissance Services, OIFC, Al Batinah Power and Phoenix Power declined by 2.13 per cent, 1.48 per cent, 1 per cent and 0.65 per cent, respectively.