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Shares on the Muscat Securities Market recovered amid support from retail investors. Financials stocks drove the MSM30 Index higher to close 5,129.54 points, up 0.57 per cent. The MSM Sharia Index ended at 749.44 points, up 0.13 per cent. Galfar Engineering was the most active in terms of volume while Omantel led in terms of turnover. United Finance, up 5.65 per cent, was the top gainer while Al Sharqia Investment was the top loser, down 3.64 per cent.
A total number of 741 trades were executed on Monday, generating turnover of OMR2.64 million with 13.5 million shares changing hands. Out of 42 traded securities, 13 advanced, 13 declined and 16 remained unchanged. At the end of the trading session, Omani Investors were net buyers for OMR312,000 while GCC & Arab Investors switched to net sellers for OMR302,000 followed by Foreign Investors for OMR10,000 worth of shares.
Financial Index advanced 0.61 per cent to end at 7,483.38 points. United Finance, Ahli Bank, Bank Dhofar, Al Madina Investments and Gulf Investment Services increased 5.65 per cent, 3.55 per cent, 3.41 per cent, 1.59 per cent and 1.18 per cent respectively. Al Sharqia Investments, Vision Insurance, Al Madina Takaful, Al Izz Bank and Al Anwar Holding lost 3.64 per cent, 2.82 per cent, 1.92 per cent, 1.43 per cent and 1.3 per cent respectively.
Industrial Index retreated 0.16 per cent to finish at 6,934.76 points. Al Anwar Ceramics and Al Jazeera Steel gained 3.05 per cent and 2.00 per cent respectively. Voltamp Energy, Galfar Engineering, Gulf International Chemicals and Al Maha Ceramics decreased 3.51 per cent, 2.27 per cent, 2.22 per cent and 1.01 per cent respectively.
Services Index closed at 2,579.57 points, up 0.04 per cent. Al Jazeera Services and Omantel increased 5.30 per cent and 0.39 per cent respectively. National Gas, Sohar Power, Oman National Engineering and OIFC declined 3.04 per cent, 2.52 per cent, 0.66 per cent and 0.61 per cent respectively.
Times of Oman
The topic of sukuk standards is an important but sometimes divisive one in Islamic capital markets, and is a constant source of debate between the industry's many key stakeholders.
Qatar on Wednesday witnessed the launch of the world's largest single country Islamic exchange traded fund (ETF), which is increasingly seeking investors from Asia, Europe and the US.
The MSM30 Index recovered 0.30 per cent to close at 4,796.23 points. The MSM Sharia Index ended at 678.30 points, up 0.09 per cent. Galfar Engineering was the most active in terms of volume as well a
Times of Oman
The Dubai index moved higher on Wednesday, boosted by the announcement of a joint venture between Emaar Properties and Aldar Properties. The Dubai Financial Market (DFM) General Index closed 0.75 per
The Muscat Securities Market (MSM) declined 6.2 per cent YTD as the benchmark MSM 30 index plummeted to 4,781.9 points – a level last seen in April 2009. The decline effectively wiped out cumulativel
Oman Daily Observer