Recovery continues on Muscat bourse

27/08/2015 08:03 AST

As share prices on the Muscat bourse continued its recovery on Wednesday, MSM30 Index showed upward trend to close at 5,782.04 points, a gain of 0.38 per cent. The MSM Sharia Index remained unchanged at 908.16 points.

Bank Muscat was the most active in terms of volume as well as turnover. Al Madina Takaful gained 8.97 per cent to be the top gainer, while Al Anwar Ceramics, down by 6.88 per cent, was the top loser.

As many as 1,412 trades were executed during the trading session generating turnover of OMR4.7 million with more than 18.1 million shares changing hands. Out of 39 traded securities, 15 advanced, eight declined and 16 remained unchanged. Omani investors were net buyers to the tune of OMR1.62 million worth of shares followed by GCC and Arab investors at OMR97,000. Foreign investors, who were the net sellers, sold shares amounting to OMR1.71 million.

Financial Index led the indices with a gain of 0.73 per cent to close at 6,968.95 points. Al Madina Takaful, Al Madina Investments, Al Anwar Holding, National Bank of Oman and Bank Muscat increased by 8.97 per cent, 3.77 per cent, 3.55 per cent, 3.55 per centand 1.62 per cent, respectively. Dhofar Investment and Development, Al Batinah Investment, Al Sharqia Investments and HSBC Bank Oman declined by 2.33 per cent, 2.04 per cent, 0.92 per cent and 0.87 per cent, respectively.

Industrial Index closed on a negative note at 7,499.79 points, down by 0.18 per cent. Oman Fisheries, Al Maha Ceramics, Galfar Engineering, Voltamp Energy and Gulf International Chemicals increased by 8.89 per cent, 4.60 per cent, 3.19 per cent, 1.44 per cent and 1.21 per cent, respectively. Al Anwar Ceramics and Oman Cables declined by 6.88 per cent and 0.77 per cent, respectively.

Services Index remained stable at 3,209.70 points, down by 0.02 per cent. Ooredoo Oman, OIFC and Omantel increased nu 2.33 per cent, 1.83 per cent and 0.61 per cent, respectively. Both Al Suwadi Power and Al Batinah Power declined by 2.30 per cent, respectively.

Regional markets

Most Middle Eastern stock markets declined amid mounting concern the region’s largest economy will cut spending after oil prices slumped to the lowest since 2009. The Tadawul All Share Index in Saudi Arabia retreated as much as 2.4 per cent before trading 0.4 per cent.

Kuwait’s measure fell 0.4 per cent while Abu Dhabi’s ADX General Index retreated 0.1 per cent and Bahrain’s BB All Share Index lost less than 0.1 per cent.

Times of Oman