Muscat bourse dips below 5,000-mark

Sustained weakness in large caps weighed on the MSM30 Index, which closed below the 5,000 level at 4,978.60 points, down by 0.90 per cent. The MSM Sharia Index declined by 0.83 per cent to close at 710.59 points. Oman Fisheries was the most active in terms of volume while Ominvest was most active in terms of turnover. The top gainer was Alizz Islamic Bank, up by 4.23 per cent, while Al Hassan Engineering, down by 20 per cent remained the top loser.

A total number of 511 trades were executed on Sunday, generating a turnover of OMR1.25 million with 6.74 million shares changing hands. Out of 35 traded securities, four advanced, 19 declined, and 12 remained unchanged. Omani investors were net buyers for OMR191,000 while foreign investors remained net sellers for OMR136,000 followed by GCC and Arab investors for OMR55,000 worth of shares.

Financial Index had sharp loss of 0.98 per cent to close at 7,328.69 points. Alizz Islamic Bank and NBO gained 4.23 per cent and 1 per cent, respectively. Ominvest, Ahli Bank, Al Madina Takaful, Al Anwar Holding and Al Sharqia Investments declined by 3.64 per cent, 3.53 per cent, 2 per cent, 1.99 per cent and 0.90 per cent, respectively.

Industrial Index declined by 0.97 per cent to close at 6,662.20 points. Al Hassan Engineering, Oman Flour Mills, Oman Fisheries, Al Maha Ceramics and Galfar Engineering declined by 20 per cent, 5.58 per cent, 3.55 per cent, 1.75 per cent and 1.35 per cent, respectively.

Services Index closed at 2,613.15 points, down by 0.35 per cent. Renaissance Services and Al Jazeera Services gained 3.68 per cent and 0.63 per cent, respectively. Ooredoo, Phoenix Power, National Gas, OIFC and MCDC lost 3.92 per cent, 2.31 per cent, 1.02 per cent, 0.77 per cent and 0.61 per cent, respectively.

Source:Timesofoman