Profit booking pulls down Muscat bourse

Shares on the Muscat bourse edged down on profit booking. The MSM30 Index had marginal loss of 0.03 per cent to end the session at 5,166.62 points. The MSM Sharia Index closed at 748.92 points, down by 0.93 per cent. Bank Sohar was the most active in terms of volume while Omantel led in terms of turnover. The top gainer was Omantel, up by 1.82 per cent, while Oman Flour Mills was the top loser with loss of 9.44 per cent.

A total number of 639 trades were executed on Monday, generating turnover of OMR4.11 million with 13.23 million shares changing hands. Out of 38 traded securities, 7 advanced, 13 declined and 18 remained unchanged. Omani investors were net buyers for OMR823,000 while GCC and Arab investors were net sellers for OMR810,000 followed by foreign investors for OMR13,000 worth of shares.

Financial Index ended at 7,401.47 points, down by 0.36 per cent. Al Madina Investments, Oman & Emirates Holding and Al Sharqia Investments gained 1.64 per cent, 1.23 per cent and 0.93 per cent, respectively. Gulf Investment Services, Galfar Engineering, Al Izz Bank, Ahli Bank and Al Madina Takaful declined by 3.61 per cent, 3.41 per cent, 1.45 per cent, 1.20 per cent and 0.99 per cent, respectively.

Industrial Index had sharp loss of 1.65 per cent to close at 6,901.13 points. Oman Flour Mills, Al Anwar Ceramics and Gulf International Chemicals declined by 9.44 per cent, 2.90 per cent and 1.86 per cent, respectively.

Services Index gained 0.30 per cent to close at 2,590.52 points. Omantel, Port Services, Ooredoo and OIFC gained 1.82 per cent, 1.02 per cent, 0.80 per cent and 0.65 per cent, respectively. Al Batinah Power, down by 0.69 per cent, was the sole sector loser.

Source:Timesofoman