Oman shares recover on better support from investors

Muscat: Shares on the Muscat bourse recovered on better support from retail and institutional investors. The MSM30 Index ended higher to close at 5,948.41 points, up by 0.29 per cent. The MSM Sharia Index increased by 0.13 per cent to close at 888.25 points. Galfar Engineering was most active in terms of volume as well as turnover. The top gainer was Renaissance Services, up by 4.83 per cent, while National Aluminium was the top loser, down by 1.58 per cent.
As many as 806 trades were executed on Monday, generating turnover of OMR3.13 million with 14.6 million shares changing hands. Out of 42 traded securities, 13 advanced, four declined and 25 remained unchanged. GCC and Arab investors were net buyers for OMR130,000 followed by foreign investors for OMR14,000 while Omani investors were net sellers for OMR274,000 worth of shares.
Financial Index closed at 7,641.56 points, up by 0.22 per cent. Al Madina Investment , Al Anwar Holding, Bank Sohar and Bank Muscat increased by 3.08 per cent, 0.89 per cent, 0.56 per cent and 0.50 per cent, respectively. National Bank of Oman was the only loser in the sector and was down by 0.38 per cent to close at OMR0.257.
Industrial Index declined by 0.46 per cent to close at 7,294.52 points. Galfar Engineering, Al Anwar Ceramics and Jazeera Steel Product increased by 3.77 per cent, 1.89 per cent and 0.97 per cent, respectively. National Aluminium and Oman Cables declined by 1.58 per cent and 0.27 per cent, respectively.
Services Index closed at 3,282.48 points, up by 0.54 per cent. Renaissance Services, Al Batinah Power, Oman Telecommunications Company and OIFC increased by 4.83 per cent, 0.94 per cent, 0.93 per cent and 0.50 per cent, respectively. Ooredoo Oman was the only sector loser and was down by 1.06 per cent to close at 0.748.