Muscat shares close in the red

Muscat: A decline in index heavyweights weighed on an otherwise stable MSM 30 Index which closed at 5,165.51 points, down 0.51 per cent. The MSM Shariah Index also declined 0.57 per cent to close at 807.75 points.
Bank Sohar was the most active in terms of volume as well as turnover. Wednesday’s top gainer was Oman Fisheries, up 4.26 per cent while HSBC Bank was top loser, down 6 per cent
As many as 840 trades were executed on Wednesday, generating a turnover of OMR3.4 million with 17.4 million shares changing hands. Out of 39 traded securities, 10 advanced, 9 declined and 20 remained unchanged. At the close of the session, Omani investors were net buyers to the tune of OMR1.11 million, while foreign investors stayed net sellers at OMR1.07 million followed by GCC and Arab investors, who sold shares amounting to OMR31,000.
Financial Index declined 0.54 per cent to close at 6,345.74 points. Al Izz Bank, Bank Dhofar, Al Anwar Holding and Oman United Insurance gained 1.67 per cent, 1.65 per cent, 0.63 per cent and 0.52 per cent respectively. HSBC Bank, Al Sharqia Investments, Bank Muscat, Global Financial Investment and NBO declined 6 per cent, 2.17 per cent, 1.87 per cent, 0.91 per cent and 0.37 per cent respectively.
Industrial Index ended negatively at 6,486.49 points, down 0.64 per cent. Oman Fisheries, Dhofar Cattlefeed and Gulf International Chemicals gained 4.26 per cent, 2.84 per cent and 1.87 per cent respectively. Raysut Cement, Oman Cement and Al Maha Ceramics declined 4.18 per cent, 1.78 per cent and 0.53 per cent respectively.
Services Index advanced 0.14 per cent to close at 2,900.74 points. Al Batinah Power, Al Suwadi Power and OIFC gained 1.03 per cent, 1.03 per cent and 0.56 per cent respectively. Omantel declined 0.70 per cent to close at OMR1.420