Oman stocks recover after long losing streak

18/12/2014 05:39 AST

MSM 30 Index closed with gains at 5,482.63 points, up by 1.35 per cent. MSM Shariah Index also increased by 1.23 per cent to close at 878.27 points.

Gulf Investment Services was the most active in terms of volume while Omantel was the most active in terms of turnover. The top gainer was ONIC Holding, up by 10 per cent, while Oman Flour Mills, down by 10 per cent, was the top loser.

Altogether 1,698 trades were executed in the session generating a turnover of OMR8.5 million with more than 24.3 million shares changing hands. Out of 49 traded stocks, 25 advanced, 13 declined and 11 remained unchanged. Omani investors were net buyers for OMR3.4 million followed by GCC & Arab investors for OMR662,000 while Foreign investors remained net sellers for RO 4.0 million worth of shares.

The financial Index reversed course and ended on a positive note at 6,602.23 points, up by 1.76 per cent. ONIC Holding, Al Madina Investments, Bank Nizwa, Ahli Bank and DBIH increased by 10 per cent, 7.55 per cent, 6.85 per cent, 6.56 per cent and 5.21 per cent respectively. Oman United Insurance, Al Anwar Holding, Al Izz Islamic Bank and Bank Dhofar decreased by 9.13 per cent, 3.25 per cent, 1.05 per cent and 0.34 per cent respectively.

Industrial Index declined by 0.28 per cent to close at 7,283.12 points. Al Anwar Ceramics, Oman Fisheries, Al Hassan Engineering, Galfar Engineering and Al Maha Ceramics increased by 9.58 per cent, 9.09 per cent, 7.06 per cent, 3.88 per cent and 3.63 per cent respectively. Oman Flour Mills, Majan Glass, Al Jazeera Steel, National Aluminium Products and Voltamp Energy decreased by 10 per cent, 9.92 per cent, 8.82 per cent, 4.68 per cent and 4.49 per cent respectively.

Services Sector Index gained 0.50% to close at 3,236.94 points. Ooredoo, OIFC, Port Services, Al Suwadi Power and Omantel increased by 5.71 per cent, 2.90 per cent, 2.41 per cent, 1.92 per cent and 1.02 per cent respectively. Al Jazeera Services and Renaissance Services declined by 6.81 per cent and 3.61 per cent respectively.

Times of Oman